Res 2012-118 - Laserfiche WebLink

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expenses to be incurred by the Chamber in performing this Contract. C. The CVB Board shall monitor expenditures of CVB Funds allocated to the Chamber under this Contract for conformity to the applicable fiscal year budget. The Chamber shall provide to the CVB Board an itemized monthly report of the Chamber's expenditures of Tourism Funds to facilitate review by the CVB Board. D. Purchases made with CVB Funds which exceed $3,000.00 in amount shall be made from the low responsible bidder, and at least three bids shall be obtained for each such purchase. Purchases made with CVB Funds shall not be restricted to Chamber members. E. The Chamber shall obtain the advice and counsel of the CVB Advisory Board as to the hiring and firing of management -level Chamber employees responsible for activities under this Contract. The Chamber President has day -to -day management responsibilities for Chamber employees involved in activities under this Agreement. F. The CVB Advisory Board and the Chamber shall give advance public notice of meetings of the CVB Advisory Board, and shall allow members of the public to attend these meetings. The CVB Advisory Board is subject to State laws and City ordinances which apply generally to City boards and commissions, including those requiring disclosure of conflicts of interest and abstention from participation in decisions involving conflicts of interest. The Chamber shall provide a copy of the minutes of each CVB Advisory Board meeting to the City. V. TERM; TERMINATION A. The term of this Contract shall be effective from October 1, 2012 through September 30, 2015. The City's obligation to make the final quarterly payment to the Chamber from hotel taxes collected from July 1 through September 30 of the last year of the contract term and the Chamber's obligation to submit a report to