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<br />of its duties without the prior written consent of the City and Chamber. <br />3. OBLIGATIONS OF THE CHAMBER <br /> <br />A. Chamber shall provide necessary skilled and knowledgeable personnel, equipment, <br />supplies, and vehicles for the administration and operation of the economic development services <br /> <br />required herein, in accordance with the budget approved by the City. <br />B. Chamber shall provide office facilities and utilities to the EDC at the San Marcos Area <br />Chamber of Commerce building sufficÌt:nt to allow EDC to carry out the economic development <br /> <br />. services described herein, in accordance with the budget approved by the City. <br />C. Chamber shall obtain the advice and counsel of the EDC as to the hiring and firing of <br /> <br />management-level Chamber employees responsible for EDC activities. <br />D. Chamber shall not discriminate against any person, finn or organization in connection <br /> <br />with this Agreement on the basis of inability to pay, age, sex, disability, race, nationality, or religion. <br />4. OBLIGATIONS OF THE CITY <br /> <br />A. The City shall pay to the EDC and the Chamber, jointly, the sum of $160,510 in <br />installments of$40,127.50 each on October 31,2003, January 30, 2004, April 30, 2004 and July 30, <br />2004. <br /> <br />B. The City will conduct performance reviews of EDC and Chamber activity under this <br />Agret:ment upon receipt of the quarterly and annual perfoffilance reports described in Section I.D <br /> <br />above. The reviews will be conducted by persons designated by the City Council. <br />5. RECORDS <br /> <br />A. EDC and Chamber agree to provide access to an authorized representative of the City to <br />their financial records pertaining to perfonnance under this contract during reasonable working <br /> <br />hours. <br /> <br />B. EDC and Chamber agree to maintain financial portions of these records in accordance <br />with generally accepted accounting principles. <br />C. EDC and Chamber agree to retain the records for one year after temlination of this <br /> <br />contract. <br /> <br />D. EDC and Chamber agree to submit to the City an annual financial report and an audit <br />prepared by a certified public accountant. <br /> <br />Page 6 <br />