Laserfiche WebLink
D. In the course of its business the Authority, <br />from time to time, receives remuneration for its business <br />activities, including the payment to the Authority of fees <br />and charges for the processing of development projects and <br />the sale of bonds for the financing thereof pursuant to the <br />abovesaid Act. <br />E. The parties do now desire to provide for the <br />payment of such remuneration by the Authority to the City as <br />compensation for the administrative staff services performed <br />for the Authority by the City. <br />WHEREFORE, for and in consideration of their mutual <br />and respective covenants and promises hereinafter set forth, <br />and subject to the terms and conditions of this Agreement, <br />the parties hereto do hereby agree as follows: <br />1. The officers, agents, and employees of the <br />City shall perform services for the Authority in accordance <br />with the directions of City's City Manager or his designated <br />representative. <br />2. The Authority shall pay to the City, as compen- <br />sation for such services, any and all amounts received by the <br />Authority as remuneration for its business activities, including <br />fees and charges received for the procuring'of development pro- <br />jects and the sale of bonds for the financing thereof. <br />3. All payments received by the City pursuant to <br />this Agreement shall be credited to budgetary accounts in the <br />same manner as similar payments received by the City in the <br />:wz <br />