2003 - 10-06-03 Regular Meeting - Laserfiche WebLink

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FISCAL YEAR AMOUNT PAYMENT DATE 2004-2005 $6,308.00 July 30, 2004 2005-2006 $6,308.00 July 30, 2005 2006-2007 $6,308.00 July 30, 2006 2007-2008 $6,308.00 July 30, 2007 2008-2009 $6,309.00 July 30, 2008 NOW, THEREFORE, in consideration of the above, the parties do hereby agree as follows: (1) The LCEDC covenants and agrees to expend the funds which are the subject of this Agreement and perform services in consideration of the receipt of funds in accordance with the purposes and/or under the restrictions and conditions as attached to this Agreement and incorporated herein by reference. The LCEDC further agrees to expend the County funds in accordance with the Budget for said fiords attached hereto which is incorporated herein by reference. Funds made available to the LCEDC pursuant to this Agreement shall be expended only in accordance with the applicable federal, state, and local laws. No change or alteration in the County amount of the total Budget attached maybe made without the express approval of the Board of Commissioners. The Budget detail or total Budget may be amended with the approval of the County Manager, within the County funds made available by this Agreement. (2) Terniination of this Agreement may occur for reasons described herein or in attachments hereto. The County may execute an extension of this Agreement in its discretion and in accordance with such additional conditions as it may require. (3) The LCEDC agrees that it will supply such records, information and verification relating to expenditures of the funds or the operations of the LCEDC as may be reasonably requested by the County. The LCEDC agrees that the County shall have access to the records and premises of the LCEDC at all reasonable times, and the LCEDC agrees to submit such reports as the County shall request pertaining to the funds granted herein or the operations of the LCEDC. The LCEDC shall maintain a written accounting and documentation of all of its receipts and disbursements relating to the grant funds which are the subject of this Agreement. The County reserves the right to require a certified audit pertaining to the use of grant funds, or may perform the audit through the use of its staff. The LCEDC agrees to subject itself to the provisions of Article 33C of Chapter 143 of the North Carolina General Statutes, entitled "Meetings of Public Bodies" to the same extent as the County. (4) The LCEDC shall furnish to the County a copy of its audit report perfomrcd by a certified public accountant as soon as such becomes available to the LCEDC, but not later than six (6) months following the LCEDC'S fiscal year end. 2