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Home My WebLink AboutR-1541-10-97RESOLUTION NO. 1541-10-97(R) ' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS, APPROVING THE TERMS AND CONDITIONS OF AN ADMINISTRATIVE SERVICES AGREEMENT BY AND BETWEEN THE CITY OF ALLEN, TEXAS AND ALLEN ECONOMIC DEVELOPMENT CORPORATION; AUTHORrMG ITS EXECUTION BY TBE MAYOR; AND PROVIDING AN EFFECTIVE DATE. L WHEREAS, the City Council has been presented with a proposed Administrative Services Agreement by and between the City of Allen, Texas and Allen Economic Development Corporation, a copy of which is attached hereto and incorporated herein by reference; and WHEREAS, upon full review and consideration of the Agreement, and all matters related thereto, the City Council is of the opinion and finds that the terms and conditions thereof should be approved, and that the Mayor should be authorized to execute the Agreement on behalf of the City of Allen, Texas; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN COUNTY, TEXAS, THAT: Section 1 The Agreement attached hereto having been reviewed by the City Council of the City of Allen, Texas, and found to be acceptable and in the best interest of the City and its citizens, be, and the same is hereby, in all things approved, and the Mayor is hereby authorized to execute the Agreement on behalf of the City of Allen, Texas. Section 2. This Resolution shall become effective immediately from and after its passage DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN COUNTY, TEXAS, ON THIS THE 2ND DAY OF OCTOBER , 1997, kx9Q:T44at Stephen Terrell, MAYOR AT1'ES'T: L rR� rIY SE /R J � y Mo ' on, CMC, CITY SECRETARY Resolution No. 1541-10-97 (R) Page 1 SS12 03 STATE OF TEXAS § § ADMINISTRATIVE SERVICES AGREEMENT COUNTY OF COLLIN § This Agreement ("AGREEMENT") is by and between the City of Allen, Texas, a Texas municipal corporation ("CITY"), and the Allen Economic Development Corporation, a Texas non-profit corporation ("AEDC"). WITNESSETH: WHEREAS, the AEDC requests the CITY, to provide certain administrative services; and WHEREAS, the AEDC staff and personnel are employees of the AEDC; and WHEREAS, the CITY agrees to provide the AEDC with administrative services as provided herein; and NOW THEREFORE, for and in consideration of the mutual covenants set forth herein, the parties hereto hereby agree as follows: Section 1: CITY's Obligations (a) CITY agrees to review the AEDC annual budget of expected revenues and proposed expenses and to incorporate the same into the CITY's annual budget. (b) CITY shall approve an outside, independent auditing and accounting firm to cause the books, records accounts, and financial statements of the AEDC to be audited once each year at the expense of the AEDC. (c) CITY shall provide AEDC with financial services to include an annual audit, payroll, investment of funds, accounts payable, and certain functions related to budget preparation and review. Section 2. AEDC's Obligations (a) AEDC shall use its best efforts to promote economic development within the CITY. (b) AEDC shall provide an annual report to the City Council on its activities and expenditures to promote economic development within the CITY. AEDC shall keep adequate Administrative Services Agreement - Page I Sa124% records of all its activities and expenditures incurred hereunder sufficient to satisfy the auditing firm that conducts the annual audit that the sales tax and funds provided under this AGREEMENT were expended in accordance with law. Including Articles of Incorporation, Bylaws, Minutes of Organizational Meetings and Agendas of AEDC Board of Directors meeting. (c) On or before July 31st of each year, the AEDC shall prepare or direct the preparation of. (1) an annual performance review and evaluation; (2) a projection of goals and programs for the coming year; and, (3) an annual budget of expected revenues and proposed expenses. The report shall be submitted to the City Council and the City Manager of the CM at either a regular or special meeting of the City Council. Section 3. AEDC Operating Procedures (a) AEDC shall operate in accordance with the policies and procedures approved by the CITY from time to time. Section 4. Compensation AEDC agrees to pay to the CITY an annual fee for the services provided herein, such fee to be established the CITY and AEDC on an annual basis. If additional services not covered by this AGREEMENT are required, the AEDC shall pay to the CITY the reasonable cost of such services. Section 5. Mutual Cooperation CITY and AEDC agree to cooperate fully with one another and to coordinate their efforts in order to ensure that the conditions of this contract are fulfilled and to ensure optimal economic development within the CITY. In order to expedite the conditions of the contract and to effect economies of scale, the parties agree to keep each other fully informed of thew plans, operations and activities and wherever possible to coordinate fully their efforts to promote and otherwise undertake economic development within the CITY. Section 6. No Obligation for Additional Funds Nothing in this AGREEMENT shall in any way place any obligation on any other funds or sources of revenue of the CITY and nothing herein shall create any lien or other obligation on any other sources of income, revenues or funds of the CITY. The obligations of the CITY provided by this AGREEMENT are payable from sales tax revenue received by the CITY. The Administrative Services Agreement - Page 2 WIN" CITY, at its sole option, may further subordinate the obligations of the CITY hereunder to other present and future obligations of the CITY. Section 7. Ability to Contract with Others Nothing in this AGREEMENT shall in any way limit either party to this AGREEMENT from contracting with other persons or organizations for administrative services. Section 8. Term The initial tens of this contract shall expire on September 30, 1999. This AGREEMENT shall automatically renew thereafter in two year increments unless either party gives written notice to the other party ninety (90) days prior to the expiration of the then current tens. Section 9. Termination Any party may terminate by giving ninety (90) days written notice to the other party of its intent to terminate. All cost of administrative services shall be paid up to the effective date of termination. Section 10. Assienment This AGREEMENT is not assignable by either party without the prior written consent of the governing body of the other party. Section 11. Notices All written notices must be made by certified mail, return receipt requested, addressed to the parties, or their successors in office, at the following addresses: City Manager City of Allen One Butler Circle Allen, Texas 75002 Section 12. Aoolicable Law President Allen Economic Development Corporation One Butler Circle Allen, Texas 75013 This AGREEMENT is governed by the laws of the State of Texas; and venue for any action shall be in Collin County, Texas. Administrative Services Agreement - Page 3 SSIN" Section 13. Severability In the event any section, subsection, paragraph, sentence, phrase or word herein is held invalid, illegal or unconstitutional, the balance of this AGREEMENT shall be enforceable and shall be read as if the parties intended at all times to delete said invalid section, subsection, paragraph, sentence, phrase or word. Section 14. Cancellation of Prior Agreement This AGREEMENT supersedes any prior written or oral Agreements by and between the CITY and the AEDC. This AGREEMENT constitutes the entire AGREEMENT and understanding between the parties and may not be amended without the prior written approval of the governing body of each entity. EXECUTED this day of _.1997, CITY OF ALLEN, TEXAS By: "� STEPHEN TERRELL, MAYOR ATTEST: ALLEN ECONOMIC DEVELOPMENT CORPORATION ATTEST: By: �StCRETARY Operational Agreement - Page 4 ssiu • U ATTEST: By: �StCRETARY Operational Agreement - Page 4 ssiu