Res 2006-168 - Laserfiche WebLink

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I I I B. It is expressly agreed that either party may cancel this Contract by tendering written notice to the other. This Contract will terminate 30 days from the date ofthe written notice, or on any date specified in the notice after the 30 day period. If this Contract is so terminated, the City will compensate the Chamber for services to the date of termination on a pro rata basis. C. Any CVB Funds allocated to the Chamber by the City which are unencumbered or unexpended on the date of the termination of this Contract shall be remitted to City within 30 days from the date of the termination; provided, that if the parties execute a new contract to renew the Chamber's tourism promotion services and activities, the Chamber may use the funds for its usual and customary expenses until the date of its first allocation of funds under the new contract, when it will remit the remaining funds under this Contract to the City. 6. CONSTRUCTION This Contract shall be construed in accordance with the laws ofthe State of Texas, and in particular Chapter 351 of the Texas Tax Code. 7. CVB ASSETS The Chamber shall keep its equipment, supplies, vehicles and other assets separate from those purchased with CVB Funds and to be used in the performance ofthis Contract. The latter shall be inventoried and identified as property of the City. Inventory lists shall be provided by the Chamber to the CVB Advisory Board and the City upon request. Subsequently acquired assets of this nature shall be similarly separated from Chamber assets, inventoried and identified. EXECUTED on October 18, 2006. THE CITY OF SAN MARCOS, TEXAS J.J1/ By: Dan O'Leary, City Manager SAN MARCOS AREA CHAMBER OF COMMERCE By: o<r~) dt.lt Donna Hill, Chair, Board of Directors AND VISITOR BUREAU ADVISORY BOARD --- 5