Res 2012-156 - Laserfiche WebLink

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have family or business ties, during their tenure or for one year thereafter. These conflict of interest provisions apply to any person who is an employee, agent, consultant, officer or elected official of the City or of any designated public agencies. Contracts - The contract between the City of San Marcos and the business ensures a complete understanding of the planned project, the expected number of jobs to be created or retained, the sources and uses of all funds committed to the project, the financial and other reporting requirements of the business and the City, and all other obligations of the business, to the City. The contract period for project completion shall be one year unless otherwise specified. Eligible Uses of Funds - Revolving Loan Funds may be awarded for the following purposes: loans for the purchase of machinery and equipment or for working capital.. Environmental Clearance- ALL executed RLF contracts require environmental clearance before ANY funds and costs, as outlined on the Sources and Uses of Funds Form, may be spent or incurred. The City will perform the required environmental review. Equity Requirement- A minimum of ten percent (10 %) equity injection (of the total project costs) in the form of cash, land, buildings, equipment, furniture or fixtures by the business is required. A thirty percent (30 %) equity injection is required for start -ups. A firm financial commitment and a verification of deposit for all cash equity injections will be required upon submission of the application. False Information - In those instances where it is determined that an applicant provided false information for the purpose of improving its scoring, the following actions may be taken on a case -by -case basis: (1) Even if an award has been made, he business may be liable for RLF funds released if the false information resulted in the project being funded. (2) The business will be ineligible to apply for San Marcos Revolving Loan Program funding for a period of two program years or until any issue of restitution is resolved, whichever is longer. (3) Additionally, a person commits an offense if he: (A) Knowingly makes a false entry in, or false alteration of, a government record; (B) Makes, presents, or uses any record, document, or thing with knowledge of its falsity and with intent that it be taken as a genuine governmental record; or (C) Intentionally destroys, conceals, removes, or otherwise impairs the verity, legibility, or availability of a government record. A governmental record is defined as anything belonging to, received by, or kept by government for information, or that government is required by law to be kept by others for information of government. An offense under Section 3, above is a Class A misdemeanor unless the actor's intent is to defraud or harm another, in which event the offense is a felony of the third degree. Funding Cycle - The Revolving Loan Fund will be available to eligible businesses on a first come, first served basis. Please contact the City's Development Services- Planning office to verify the availability of funds before preparing an application. Gap Financing - The RLF program is intended to be a gap financing tool. Since the applicant will be documenting the "gap" or the need for funds, the applicant must provide documentation pertaining to other funding sources that it has tried to access and its inability to complete this project. Additionally, the business m