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Page 14 of '- � <br /> PART VII <br /> FUNDS MANAGEMENT <br /> 1. Transactions. The Grantee shall conduct all Loan and Investment <br /> transactions involving Program Proceeds, regardless of dollar amount or <br /> method of procurement, in a manner consistent with the provisions in <br /> State law and regulations. Further, the Grantee shall follow the <br /> Financial Assistance Standards outlined in Part XII . <br /> In carrying out the project, the Grantee shall not discriminate against <br /> any third party applicant because of race, color, religion, sex, national <br /> origin, ancestry, age, physical or mental handicap unrelated to ability, <br /> marital status, or unfavorable discharge from military service. <br /> The Grantee shall refrain from unlawful discrimination in employment and <br /> will undertake affirmative action to assure equality of employment <br /> opportunity and eliminate the effects of past discrimination in <br /> accordance with the Illinois Human Rights Act (I11 . Rev. Stat. 1989, ch. <br /> 68, par. 1-101 et. seq. ) ; Section 504 and the Equal Opportunity Clause <br /> promulgated thereto of the Rehabilitation Act of 1973 (29 U.S.C. 794) ; <br /> the Age Discrimination Act of 1975 (42 U.S.C. 6106-6107) ; and Title VI <br /> of the Civil Rights Act of 1964 (24 CFR Part I) . <br /> 2. Interest of Public and Other Officials. Grantee agrees to comply with <br /> the provisions of the Illinois Purchasing Act prohibiting conflict of <br /> interest (I11 . Rev. Stat. , 1989, ch. 127 , par. 132.11-1 through 132. 11-5) <br /> and all the terms, conditions and provisions of those Sections apply to <br /> this Agreement and are made a part of this Agreement the same as though <br /> they were incorporated and included herein. <br /> 3. Conflict of Interest. No officer or employee of the Grantee and no <br /> member of its governing body and no other public official of the locality <br /> in which the project objectives will be carried out who exercises any <br /> functions or responsibilities in the review or approval of the <br /> undertaking or carrying out of sucF objectives shall participate in any <br /> decision relating to any Loan or Investment negotiated by the Grantee <br /> using Department funds which affects his or her personal interest of any <br /> third party beneficiary in which he or she is, directly or indirectly, <br /> interested. <br /> 4. Funds Management. The Grantee shall maintain prudent standards in <br /> managing all Program Proceeds. The Grantee agrees to maintain Program <br /> Proceeds separate from other property and assets of the Grantee and, as <br /> needed, insure such funds. The Grantee shall maintain effective control <br /> and accountability over all Program Proceeds under this Grant Agreement. <br /> The Grantee shall keep and maintain inventory records of such funds and <br /> shall report such information to the Department in the form of a Project <br /> Aging Report. Such funds must be used for the benefit of the original <br /> project as long as needed. <br /> - 14 - <br />� <br />