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<br />("ED Funds") in conformity with the Minority Economic Development Budget approved by the City <br />Council and attached to this Agreement as Exhibit A (under the column titled "Proposed MED 2002- <br />2003"). <br />E. On or before June l, 2003, the Chamber shall provide a performance report to the City <br />describing the extent to which the mission described in Section 1.A. above has been accomplished. <br />F. The Chamber shall provide quarterly reports of its activities to the Mayor and City <br />Council, with a copy to the City Manager, including the following information: <br />1. List of new prospect contacts. <br />2. List of pending prospects with status of each. <br />3. Summary description of staff activity. <br />4. Monthly and year-to-date revenues and expenditures. <br />G. Purchases made with ED Funds which exceed $1000 in amount shall be made from the <br />low responsible bidder, and at least three bids shall be obtained for each such purchase. Purchases <br />with ED Funds shall not be restricted to Chamber members. Members of the Chamber's Board of <br />Directors (the "Chamber Board") shall not have an ownership interest in any company from which <br />a purchase or purchases of $7,500 or more annually are made with ED Funds. Chamber Board <br />members shall disclose any private interests they have in matters coming before the Chamber Board <br />for decision when action on the matter may have a special economic effect on those interests, and <br />they shall abstain from the discussions and votes on those matters. <br />H. The Chamber shall not discriminate against any person, firm or organization in <br />connection with this Agreement on the basis of ability to pay, age, sex, disability, race, nationality, <br />or religion. <br />I. The Chamber shall not assign any interest in this Agreement nor delegate the performance <br />of any of its duties without the prior written consent of the City. <br />J. The Chamber shall provide a copy ofthe minutes of each Chamber Board meeting to the <br />Mayor and City Council, with a copy to the City Manager. <br />K. The Chamber Board shall include in its composition one member of the San Marcos City <br />Council appointed by the City Council. This member of the Chamber Board will not be the same <br />City Council Member as the one appointed under the City's Contract for Tourism Promotional <br /> <br />C:\TEMP\Hisp Chamber EDC-2002.doc <br /> <br />2 <br />