R97-54 AUTHORIZING AGREEMENT - Laserfiche WebLink

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4) Use of Funds. The Budget (E�ibit A) is hereby approved by the parties hereto and the Bureau agrees to expend funds received from the City pursuant to the terms of this ', Agreement generally in accordance with the item specification contained in the budget for the fiscal year ending April 30, 1998. The funds shall be used only to advance the purposes stated in the Articles of Incorporation of the Bureau. 5) Payment of Funds. The said sum of$187,500.00 shall be paid by the City to the Bureau upon specific requests in writing by the Bureau and as approved by the Director of Financial Management. 6) Bud�et for 1998/99. The Bureau shall submit to the City on or before February 1, 1998, a projected budget of estimated expenditures, in accordance with the purposes of the Bureau, for the fiscal year beginning May 1, 1998, and ending April 30, 1999, provided, however, neither party hereto shall have any responsibility or obligation to the other party after the term of this Agreement has expired on Apri130, 1998, unless and until a subsequent written agreement or written extension of this Agreement is entered into by such parties. 7) Independent Status. Neither the City nor the Bureau shall be considered the agent of the other, and, each party shall be considered independent of the other except as to the obligations each undertakes to the other in this Agreement. 8) Additional Agreements of Bureau. The Bureau shall: (a) Keep accurate books and records of all expenditures and application of funds; (b) Permit the City Auditor at all reasonable times to audit the books of the Bureau; and, (c) Furnish the City copies of all financial reports and audits which are provided to members of the Bureau.