Laserfiche WebLink
II. DSABC'S OBLIGATIONS <br />A. DSABC agrees to use the Funds to operate a promotional program, as set forth in <br />"Exhibit A attached hereto and incorporated herein by this reference . The Executive <br />Director, in his/her sole discretion, may approve reallocation of funds among approved <br />categories so long the expenditures comply with the 2008 Annual Report. <br />B. The Funds, and any interest earned by DSABC on the Funds, shall be separately <br />accounted for apart from any other funds of DSABC, or of any principal or member of <br />DSABC. DSABC shall, on July 1, 2008 and January 1, 2009 provide City with an <br />accounting of the use of the Funds that shall, at a minimum, incorporate copies of all <br />invoices, canceled checks, chart of accounts and bank statements detailing how the Funds <br />have been used and maintained by DSABC. These dates may be modified in the sole <br />discretion of the Executive Director of the Community Development Agency. DSABC <br />agrees that, at the Executive Director's sole discretion, City may require an audit of <br />DSABC conducted by a City designated accountant. DSABC shall keep records of all <br />funds received from City under the terms and conditions of this Agreement. City and/or <br />their representatives shall have access for purposes of monitoring, auditing, and examining <br />DSABC's activities and performance, to books, documents and papers, and the right to <br />examine records of DSABC's subcontractors, bookkeepers and accountants, employees and <br />participants in regard to said promotions program. <br />C. DSABC acknowledges and warrants that it shall at all times comply with the <br />laws, regulations and policies governing the use of BID funds, including but not limited <br />to, the limitations on use of BID funds set forth in California Streets and Highways Code <br />sections 36000 et. al, as well as the Downtown Santa Ana BID implementation <br />ordinance, resolution(s) and/or budget(s). DSABC agrees to and shall indemnify and <br />hold harmless the City, its officers, agents, employees from any violation of BID law that <br />occurs as result of failure to comply with the terms of this agreement or BID law. <br />D. DSABC agrees that the performance of obligations hereunder are rendered in its <br />capacity as an independent contractor and that it is in no way an agency of City. <br />E. DSABC agrees that if DSABC violates any of the terms and conditions of this <br />Agreement whereby BID funds were received by DSABC, or if DSABC reports <br />inaccurately, or if on audit there is a disallowance of certain expenditures, DSABC agrees to <br />remedy the acts or omissions causing the disallowance or repay City all amounts spent in <br />violation thereof. <br />F. DSABC agrees to provide City, within sixty (60) days of the effective date of this <br />Agreement, with its current articles or incorporation and bylaws. <br />2 <br />