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<br /> / 2711 <br /> - Page 2 <br /> equipment and supplies for the administration and operation of its economic development <br /> program, in accordance with the budget approved by the City. <br /> C. The Chamber shall provide office facilities and utilities at the, San Marcos <br /> , Hispanic Chamber of Commerce office sufficient to carry out its economic development <br /> I <br /> program, in accordance with the budget approved by the City. <br /> D. The Chamber shall authorize and make expenditures of funds under this <br /> Agreement ("E~ funds") in conformity with the budget approved by the City Council and <br /> attached to this Agreement as Exhibit A. <br /> E. On or before June 1, 1997, the Chamber shall provide a performance report to <br /> the City describing the extent to which the mission described in Section 1.A. above has <br /> . <br /> been accomplished. <br /> F. The Chamber shall provide monthly reports of its activities to the City, <br /> including the following information: <br /> 1. List of new prospect contacts. <br /> 2. List of pending prospects with status of each. <br /> 3. Summary description of staff activity. <br /> 4. Monthly and year-to-date revenues and expenditures. <br /> G. Purchases made with ED funds which exceed $1000 in amount sh~1I be made <br /> from the low responsible bidder, and at least three bids shall be obtained for each such <br /> purchase. Purchases with ED funds shall not be restricted to Chamber members. ED <br /> members shall not have an ownership interest in any company from which a purchase or <br /> purchases of $7,500 or more annually are made with ED funds. <br />