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<br /> f ;11) <br /> - Page 5 <br /> Checks in the amount of $250 or less written on these accounts require only one official <br /> signature. <br /> 2. OBLIGATIONS OF EDC <br /> A. On or before June 1, 1997, the EDC shall provide a performance report to the <br /> City describing the extent to which each of the goals described in Section 1.A above has <br /> been met. <br /> B. The EDC shall provide monthly reports of its activity to the City, including the <br /> following information: <br /> 1. List of new prospect contacts. <br /> 2. List of pending prospects with status of each. <br /> . <br /> 3. Summary description of staff activity. <br /> 4. Monthly and year-to-date revenues and expenditures. <br /> C. Purchases made with EDC funds which exceed $1000 in amount shall be made <br /> from the low responsible bidder, and at least three bids shall be obtained for each such <br /> purchase. Purchases with EDC funds shall not be restricted to Chamber members. EDC <br /> Board members shall not have an ownership interest in any company from which a <br /> purchase or purchases of $7,500 or more annually are made with EDC funds. <br /> D. EDC shall not discriminate against any person, firm or organization in ,connection <br /> with this Agreement on the basis of ability to pay, age, sex, disability, race, nationality, or <br /> religion. <br /> E. EDC 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 and Chamber. <br />