Res 2024-152 approving a one-year extension of the city’s contract with the Greater San Marcos Partnership (“GSMP”) in the amount of

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N. Records and Expense Reports. The Partnership shall maintain complete and accurate financial records of each expenditure of funds in accordance with generally accepted accounting principles prescribed for the Partnership and,at the request of the City Manager or his or her designee, shall make the records available for inspection and review during normal business hours. The Partnership, as a recipient of public funds under this Agreement, hereby 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 Partnership shall promptly respond to public information requests received by the City and shall immediately notify the City Clerk of any public information request the Partnership receives from any third party. O. Financial Disclosures. Members of the Partnership Board 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. P. Conflicts of Interest. Whenever the City's approval of an incentive request would confer a benefit upon or has an economic interest(as those terms are defined in Section 2.422 of the San Marcos City Code) on a member of the Partnership Board, such board member must recuse themselves from any action of the Partnership Board that would confer a benefit upon or have an economic effect on such board member. Q. City Branding.Upon the City's submission of any official City brand, slogan or logo to the Partnership, the Partnership will include the brand, slogan or logo into advertising programs initiated after the receipt of the brand, slogan or logo. R. Open Meetings. The Partnership hereby agrees to post notice of meetings of its Board of Directors and to conduct such meetings in the spirit of openness and transparency. Notices and agendas for all meetings of the Partnership Board shall be posted on the website of the Partnership and provided to the City Clerk's Office at least 48 hours in advance of the meeting. Members of the public shall be invited to attend and listen to all non-executive portions of such meetings.The Partnership will post the minutes and agendas of the meeting within a reasonable time after the minutes are approved. S. Board Responsibilities. The Partnership Board, 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. T. Press Releases and Promotion. All press releases and promotional materials produced by the Partnership about incentives granted and projects landed in the City shall recognize the involvement of the City Council and the City. The Partnership shall cite the determining 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,the City will pay to the Partnership $80,000 per quarter throughout the term of this Agreement. The City shall also reimburse the Partnership for any expenses authorized by this Agreement within thirty (30) Page 7 of 12