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collaborative, supportive partners. The President and members shall not oppose any third party <br /> analysis of financial incentives or development agreements requested by the city council. <br /> S. Press Releases and Promotion. All press releases and promotional materials <br /> produced by the corporation about incentives granted and projects landed in the City of San <br /> Marcos shall recognize the involvement of the San Marcos City Council and the City of San <br /> Marcos. The corporation shall cite the determining factors for a business that commences <br /> operations or expands in the city such as educational, geographical, financial, or natural assets <br /> that influenced the decision. <br /> SECTION 2. OBLIGATIONS OF THE CITY <br /> A. Payments. In exchange for the services provided under this Agreement, City will <br /> pay to the Corporation $31,250 per month. <br /> B. Assets and Liabilities. As of October 1, 2010, the Corporation acknowledges <br /> that the City contributed furniture, fixtures and equipment to the Corporation with a value of <br /> $31,302.00. <br /> C. Board Appointments. The City shall appoint six (6) members to the <br /> Corporation's Board of Directors. These appointees shall include the City Manager, the Mayor, <br /> the Economic Development San Marcos Chair, San Marcos Regional Airport representative and <br /> at least two elected officials. At least one elected city representative shall serve on the <br /> Nominating Committee. Per the Corporation bylaws, the Nominating Committee meets annually <br /> and includes the Chair, Vice Chair, one Board member, two Lead members not on the Board <br /> and one General member not on the Board <br /> SECTION 3. TERM <br /> A. The term of this Agreement shall be from October 1, 2016 through September 30, <br /> 2018. <br /> B. Pursuant to the city's rights and obligations under this contract, both parties agree <br /> and acknowledge that a review of these Terms & Conditions shall be conducted annually in <br /> March, in order to assure alignment with the city's visioning process. <br /> SECTION 4. MISCELLANEOUS <br /> A. Notices. Notices required by this Agreement will be provided by the parties to one <br /> another by certified mail, return receipt requested, or by confirmed facsimile or email <br /> transmission, to the following addresses: <br /> To the City: <br /> City Manager <br /> City of San Marcos <br /> 630 E. Hopkins <br /> 5 <br />