Laserfiche WebLink
<br /> Page 3 <br /> 1. The Chamber shall not assign any interest in this Agreement nor delegate the <br /> performance of any of its duties without the prior written consent of the City. <br /> 2. OBLIGATIONS OF THE CITY <br /> A. The City shall pay to the Chamber the sum of$30,000 in installments of$15,000 <br /> each on October 31, 1997 and April 30, 1998. <br /> B. Prior to any continuation or renewal of this Agreement, the City shall have the <br /> right to conduct a performance audit of Chamber activity under this Agreement. <br /> 3. RECORDS <br /> A. The Chamber agrees to provide access to an authorized representative of the <br /> Chamber's financial records pertaining to performance under this Agreement during <br /> reasonable working hours. <br /> B. The Chamber agrees to maintain financial portions of these records in accordance <br /> with generally accepted accounting principles. <br /> C. The Chamber agrees to retain the records for one year after termination of this <br /> Agreement. <br /> D. The Chamber agrees to submit to the City an annual financial report and an audit <br /> prepared by a certified public accountant. <br /> 4. 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 /> EXECUTED this 9th day of September, 1997. <br /> CITY OF SAN MARCOS <br /> Attest: ~£t~ <br /> Larry... . ley, City anager <br /> ~#.fi~~ <br /> Ja is K. Womack, City Secretary <br />