R95-44 AUTHORIZING AGREEMENT DECATUR AREA CONVENTION AND VISITORS BUREAU

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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 Apri130, 1996. The funds shall be used only to advance the purposes stated in the Articles of Incorporation of the Bureau. 5 Pa ent of Funds. The said sum of $187 500.00 shall be aid b the Ci to the ) � , P Y tY Bureau upon specific requests in writing by the Bureau and as approved by the Director of I Financial Management. 6 Bud et for 1996/97. The Bureau shall submit to the Cit on or before Februa 1 ) g Y rY , 1996, a projected budget of estimated expenditures, in accordance with the purposes of the Bureau, for the fiscal year beginning May 1, 1996, and ending April 30, 1997, provided, however, neither party hereto shall have any responsibility or obligation to the other party after the term of this Agreement has expired on April 30, 1996, unless and until a subsequent written agreement or written extension of this Agreement is entered into by such parties. �) 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) Pernut the City Auditor at a11 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.