Laserfiche WebLink
<br />4. Monthly and year-to-date revenues and expenditures. <br />5. Minutes ofEDC meetings. <br /> <br />C. The EDC and the Chamber shall provide a monthly briefmg to the City Council, through <br />the Economic Development Director and the Chamber President, in connection with each monthly <br /> <br />report provided under subsection B above, to elaborate on the written information, respond to <br />questions, seek City Council input on specific prospects, and facilitate participation by City officials <br /> <br />in specific initiatives. The report shall be presented to the City Council in executive session, to the <br />extent needed to protect the confidentiality of information from business prospects in accordance <br /> <br />with the Texas Open Meetings Law. <br />D. The EDC and the Chamber shall furnish to the City Council, on or before December 31, <br />2003 and March 31, 2004, a quarterly performance report, with a copy to the City Manager, <br /> <br />describing the extent to which each of the goals described in Section 1.A above has been met during <br />the preceding three-month period. On or before June 1, 2004, the EDC and the Chamber shall <br />provide an annual performance report to the City Council, with a copy to the City Manager, <br />describing the extent to which each of the goals described in Section 1.A above has been met since <br /> <br />the beginning of the term of this Agreement. <br />E. A chart depicting the organizational structure and reporting relationships of the EDC, the <br />Chamber and the City is attached to this Agreement as Exhibit A. <br />G. The EDC and the Chamber shall each designate two (2) offIcers authorized to co-sign <br /> <br />checks written on all EDC accounts. The signature of at least one offIcial of each organization shall <br />be required on all checks over $250 in amount written on EDC accounts. Checks in the amount of <br /> <br />$250 or less written on these accounts require only one official signature. <br />2. OBLIGATIONS OF EDC <br /> <br />Á. The EDC Board of Directors (the "EDC Board") shall govern the EDC and provide <br />oversight for the EDC and Chamber's performance under this Agreement. The EDC Board shall be <br /> <br />composed of the following: <br /> <br />Appointing Authority ! Number of Source of Appointments <br />, <br /> i Appts. <br />San Marcos City Council 1 Council of Neighborhood Associations <br />San Marcos City Council 1 San Marcos Board of Realtors <br />San Marcos City Council 1 San Marcos Industrial Foundation <br />San Marcos City Council 3 San Marcos City Residents <br /> <br />Page 4 <br />