Res 2015-065/agreement with the Greater San Marcos Economic Development Corporation (GSMP) for Economic Development Services

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acknowledges that all of its records both in the future and in the past are subject to the disclosure requirements and exceptions provided in the Texas Public Information Act, Chapter 552, Texas Government Code. The Corporation shall promptly respond to public information requests received by the City and shall immediately notify the City Clerk of any public information request the Corporation receives from any third party. Corporation shall provide monthly detailed expense reports to the City Clerk for distribution to Council, N. Financial Disclosure. Members of the Board of Directors will be subject to the provisions of Section 2.462 (d) of the San Marcos City Code, requiring annual financial disclosures by all city board members. O. Conflicts of Interest. Whenever the City's approval of an incentive request would confer a benefit upon or has an economic interest (as those terns are defined in Section 2.422 of the San Marcos City Code) on a member of the Corporation's Board of Directors, that member must recuse themselves from any Board action that would confer a benefit upon or have an economic effect on themselves. P. City Branding. Upon the City's submission of any official City brand, slogan or logo to the Corporation, the Corporation will include the brand, slogan or logo into advertising programs initiated after the receipt of the brand, slogan or logo. Q. Open Meetings. The Corporation hereby agrees to post notice of meetings of its Board of Directors and conduct such meetings in the spirit of openness and transparency. Notices and agendas for all meetings of the Board of the GSMP shall be posted on the website of the GSMP and provided to the City Clerk's Office at least 48 hours in advance of the meeting. Members of the public are invited to attend and listen to all non - executive portions of such meetings. The GSMP will post the minutes and agendas of the meeting within a reasonable time after the minutes are approved. R. Board Responsibilities. The Partnership Board of Directors, acting as a body, by virtue of their leadership position, shall maintain a neutral posture with regard to any political activity involving elected officials, current and future, representing the Partnership's public sector investors. A standard of respect and mutual support shall be upheld by all Partnership Board members, as well. Public sector investors and their elected officials shall be treated as collaborative, supportive partners. The President and members shall not oppose any third party analysis of financial incentives or development agreements requested by the city council. S. Press Releases and Promotion. All press releases and promotional materials produced by the corporation about incentives granted and projects landed in the City of San Marcos shall recognize the involvement of the San Marcos City Council and the City of San Marcos. The corporation shall cite the detennining factors for a business that commences operations or expands in the city such as educational, geographical, financial, or natural assets that influenced the decision. SECTION 2. OBLIGATIONS OF THE CITY A. Payments. In exchange for the services provided under this Agreement, City will pay to the Corporation 530,000 per month. 4