Resolution 7536 - Laserfiche WebLink

Home Browse Search

3. Changes. Basic services provided pursuant to Paragraph 2 of this Agreement shall be without charge to the person or organization utilizing said services unless authorized by contractual agreement or action of the Bureau Board of Directors. 4. Budget_ The Bureau shall submit its annual budget for review by the City on or before the first day of October of the year preceding the effective date of the budget. Such budget shall detail specifically the uses to which monies received shall be spent to provide the services described in Paragraph 2 of this Agreement. It is understood between the parties that the actual revenues being generated under Paragraph 5 may vary from the amount anticipated in the budget. For this reason, it is agreed that the budget may be modified without prior consent of the City, providing that any adjustments shall be made by a two thirds (2/3) vote of the Bureau Board of Directors. Notwithstanding any other language to the contrary the Bureau shall not expend any sums beyond its revenues. 5. Funding. On the 15th day of each month, the City shall remit to the Bureau, for funding of the Bureau, 95% of the lodging tax payments received by the City, less refunds, in the preceding month during the term of this Agreement. 6. Verification of Expenditures. The Bureau will provide the City a copy of the Bureau's financial statements on a quarterly basis, showing monthly, year to date, and budget figures, properly itemized and verified by the Director of the Bureau. The Finance Officer of the city shall have the right of access to the books and records of the Bureau at any time during normal business hours to audit any time of revenue or expenditure. 7. Termination. Either party may terminate this Agreement by providing written notice to that effect by June 30th to the other party Such termination shall be effective on December 31St of the calendar year in which notice is given. 8. Composition of Bureau's Board of Directors. City and Bureau agree that the Bureau's Board of Directors shall be proportionately represented, based on the percentage of lodging fee contributions contributed by the Member City during the preceding year. The City of Mounds View shall have at least one Board Member. If the City's percentage of the total Bureau lodging fees collected exceeds 10%, for each additional 10% or portion thereof above the initial 10%, the City shall be entitled to one additional Board Member. The first Board Member appointed by the City shall be an elected or appointed municipal representative of the City. If applicable, the second Board Member selected by the City will be from that community's lodging industry. Any additional representatives shall be selected at the City's discretion. The term of any Board Member appointed by the City shall immediately cease, without further action,in the event the City terminates its membership in the Bureau: 9. Hold Harmless. Any and all employees of the Bureau or any other persons, while engaged in the performance of any service required by the Bureau under this Agreement, shall 2