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<br />Page 9 <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 />1997, 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 /> <br />EXECUTED this 9th day of September-, 1997. <br />Attest: CITY OF SAN MARCOS <br />~â~'~{ r¡(~1 L <br /> <br />Jan K. Womack, CIty Secretary Manager <br /> <br />GREATER SAN MARCOS ECONOMIC <br />DEVELOPMENT COUNCIL <br />Attest: ~. /l~ ' . <br />Ilk/) { / u. F ...~ t4~~ <br />Ill! Neighbor¥ <br />Administrator <br />