O-1995-2067 - Laserfiche WebLink

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e e for approval. The budget submitted to Council will coincide with the City's fiscal year. For the first year of this agreement, the Chamber agrees to submit the budget to Council in October, 1995. For all future years, Chamber agrees to submit the budget on or before August 10th of each year. SECTION VIII. Thirty (30) days after September 30, the end of every fiscal year, the Chamber will furnish to City a performance report of its work under this contract, which shall reflect overall activity, meetings, conventions and conferences conducted, identity and amounts of advertising conducted, copies of literature produced as well as a description of direct mailings in the last year, and the expenditures during the year of the funds received pursuant to this contract. SECTION IX. The City reserves the right to audit, utilizing its staff or outside assistance, the annual financial activity of the Chamber that relates to the use of hotel/motel funds. SECTION X. It is understood and agreed that Chamber shall not in any sense be considered a partner or joint venturer with City, nor shall Chamber be considered nor in any manner hold itself out as an agent or official representative of City. Chamber shall be considered an independent contractor for the purposes of this agreement and shall in no manner incur any expenses or liability on behalf of City. SECTION XI. Chamber does further agree to hold City hannless from any and all claims by third parties for any injuries, damage or liability occasioned by Chamber in connection with this agreement. SECTION XII. It is understood and agreed that this contract shall be terminated upon occurrence of any of the following events: (a) The giving of written notice by either party to the other party at least ninety (90) days prior to the date of termination; (b) The termination of the corporate existence of Chamber; - 3 -