Laserfiche WebLink
<br />B. Prior to any continuation or renewal of this Agreement, the City shall have the right to <br />conduct a performance review of EDC and Chamber activity under this Agreement. <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 performance under this contract during reasonable working <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 termination 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 />6. TERM <br /> <br />The term of this Agreement shall commence and become effective on October 1, 2002, and <br />shall terminate one year after that date. <br /> <br />7. EDC ASSETS <br /> <br />The Chamber shall keep its equipment, supplies, vehicles and other assets separate from <br />those purchased with EDC funds and to be used in the performance of this Agreement. The latter <br />shall be inventoried and identified as property of the EDC. Inventory lists shall be provided by the <br />Chamber to the EDC and the City. Subsequently acquired assets of this nature shall be similarly <br />separated from Chamber assets, inventoried and identified. <br /> <br />EXECUTED on September 24, <br /> <br />,2002. <br /> <br />Attest: <br /> <br />CITY OF SAN MARCOS <br /> <br />By }J,~ <br />Dan O'Leary, Cit Manager <br /> <br /> <br />Page 6 <br />