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<br /> (1JF <br /> - Page 7 <br /> reasonable 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 <br /> this contract. <br /> D. EDC and Chamber agree to submit to the City an annual financial report and an <br /> audit prepared ~~ a certified public accountant. <br /> 6. TERM <br /> A. The term of this Agreement shall commence and become effective on October <br /> 1, 1996, and shall terminate one year after that date. <br /> . <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 <br /> Agreement. The latter shall be inventoried and identified as property of the EDC. <br /> Inventory lists shall be provided by the Chamber- to the EDC and the City. Subsequently <br /> acquired assets of this nature shall be similarly separated from Chamber assets, <br /> inventoried and identified. <br /> CITY OF SAN MARCOS <br /> Attest: )%". /.Á fiÅ~~ <br /> ~k,~)~~ Date: ~ - } L:-'~ (p <br /> Larry/D. Gilley <br /> Ja . K. Womack' L~~) City Manager <br /> City Secretary <br />