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<br /> Page 7 <br /> working hours. <br /> B. EDC and Chamber agree to maintain financial portions of these records in <br /> accordance with generally accepted accounting principles. <br /> C. EDC and Chamber agree to retain the records for one year after termination of this <br /> contract. <br /> D. EDC and Chamber agree to submit to the City an annual financial report and an <br /> audit prepared by a certified public accountant. <br /> 6. TERM <br /> The term of this Agreement shall commence and become effective on October 1, <br /> 1998, and shall terminate one year after that date. <br /> 7. EDC ASSETS <br /> The Chamber shall keep its equipment, supplies, vehicles and other assets separate <br /> from those purchased with EDC funds and to be used in the performance of this Agreement. <br /> The latter shall be inventoried and identified as property of the EDC. Inventory lists shall <br /> be provided by the Chamber to the EDC and the City. Subsequently acquired assets of this <br /> nature shall be similarly separated from Chamber assets, inventoried and identified. <br /> EXECUTED this 15thday of September, 1998. <br /> Attest: CITY OF SAN MARCOS <br /> BY:~ /A~ <br /> <br /> La D. Glley, City anager <br /> GREATER SAN MARCOS ECONOMIC <br /> DEVELOPMENT COUNCIL <br /> Attest: ~:1~ <br /> ~~... H"""'I>'" <br /> <br /> Printed name, title Administrator <br />