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<br />6.5 Funds and Properties <br /> <br />The Board shall appoint an entity to receive and have the custody of, and <br />disburse OCCOG funds and property and make disbursements as agreed to by its <br />members. The appointed entity shall invest OCCOG funds in accordance with the <br />general law. All interest collected on OCCOG funds shall be accounted for and <br />posted to the account of said funds. <br /> <br />6.6 Accounts and Reports <br /> <br />The OCCOG shall establish and maintain such records and accounts which <br />are deemed necessary to account for and report on the various sources of funds, <br />expenditures, grants, programs and projects and, as may be required by good <br />accounting practice, the State Controller or the United States Government. The <br />books and records of the OCCOG shall be open to inspection by representatives of <br />the member agencies at all reasonable times. <br /> <br />SECTION 7 <br />INDEMNITY <br /> <br />Each party hereto agrees to indemnify and hold the other parties harmless <br />from all liability for damage, actual or alleged, to persons or property arising out of <br />or resulting from negligent acts or omissions of the indemnifying party of its <br />employees. <br /> <br />The member agencies, and their employees, officers, members and directors <br />will not be liable to OCCOG (or anyone who may claim any right because of a <br />relationship with OCCOG) for any acts or omissions related to the service to <br />OCCOG. OCCOG and its members will indemnify and hold the members harmless <br />from any obligations, costs, claims, judgments, attorney's fees, and/ or attachments in <br />any way connected with the services provided to OCCOG under this agreement. <br /> <br />11 <br />