R97-54 AUTHORIZING AGREEMENT - Laserfiche WebLink

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AGREEMENT THIS AGREEMENT made and entered into this 21 st day of April, 1997, between THE ', CITY OF DECATUR, a municipal corporation organized under the laws of the State of Illinois, ("CITY") and the DECATUR AREA CONVENTION AND VISITORS BUREAU, a corporation organized under the Illinois Not-For-Profit Corporation Act, of Decatur, Illinois ("BUREAU"). WHEREAS, the Bureau is a corporation organized to encourage, foster, promote and stimulate conventions and tourism in the Decatur, Illinois, area and to acquaint and inform the public as to these objectives by providing information and other civic and educational features as will foster, encourage and stimulate these purposes; and, WHEREAS, the City desires to promote conventions and tourism in Decatur, Illinois, and to improve businesses in such area; and, WHEREAS, the Bureau is in need of funds to advance its purposes; and, WHEREAS, the City is willing to supply certain funds for such purposes. NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto agree as follows: 1) Term. The term of this Agreement shall be from the date hereof through April 30, 1998. 2). Amount of Funds. The City agrees, subject to the conditions contained in this Agreement, to furnish the Bureau the sum of $187,500.00 over the term of this Agreement; provided that, the City will furnish the Bureau an additional $12,500.00 over the term of this Agreement if such sum is matched by or from other sources. 3) Bud�et. Attached to this Agreement as E�ibit A is a document entitled Projected Budget ("Budget") which said budget contains estimated expenditures by the Bureau from May 1, 1997 through April 30, 1998 in an amount equal to $187,500.00, as modified by Paragraph 2 above.