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R-09-10-22-11D3 - 10/22/2009RESOLUTION NO. R -09-10-22-11D3 WHEREAS, §380.001 Texas Local Government Code provides that a municipality may establish a program to promote local economic development and to stimulate business and commercial activity in the municipality; and WHEREAS, §380.001 also provides that the municipality may administer such program by the use of municipal personnel and may contract with another entity for the administration of a program; and WHEREAS, the City of Round Rock ("City") and the Round Rock Chamber of Commerce ("Chamber") have developed a program to promote economic development and to stimulate business and commercial activity in the City; and WHEREAS, the City and the Chamber further wish to enter into an agreement for the joint administration and funding of said program, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the Mayor is hereby authorized and directed to execute on behalf of the City an Administration and Funding Agreement for the City of Round Rock Economic Development Program with the Chamber, a copy of said agreement being attached hereto as Exhibit "A" and incorporated herein for all purposes. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this 0:\wdox\SCC1ntS\0112\0905\MUNICIPAL\R91022D3. DOC/xmc Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended. RESOLVED this 22nd day of October, 2009. ATTEST: SARA L. WHITE, City Secretary 2 0 ein ALAN MCGRAW, Mayor City of Round Rock, Texas ADMINISTRATION AND FUNDING AGREEMENT FOR THE CITY OF ROUND ROCK ECONOMIC DEVELOPMENT PROGRAM by and between THE CITY OF ROUND ROCK, TEXAS and THE ROUND ROCK CHAMBER OF COMMERCE Dated: October 22, 2009 EXHIBIT ADMINISTRATION AND FUNDING AGREEMENT FOR THE CITY OF ROUND ROCK ECONOMIC DEVELOPMENT PROGRAM This Administration and Funding Agreement for the City of Round Rock Economic Development Program (the "Agreement") is made and entered into as of 2009 by and between the City of Round Rock (the "City"), a Texas home rule municipal corporation, and the Round Rock Chamber of Commerce (the "Chamber"), a corporation organized and existing under the laws of the State of Texas. WITNES SETH WHEREAS, §380.001 of the Texas Local Government Code provides that the governing body of a municipality may establish and provide for the administration of one or more programs to promote state or local economic development and to stimulate business and commercial activity in the municipality; and WHEREAS, said §380.001 also provides that the governing body may administer such programs by the use of municipal personnel and may contract with another entity for the administration of a program; and WHEREAS, the City and the Chamber wish to jointly develop a program to promote economic development and to stimulate business and commercial activity in the City of Round Rock; Now therefore: Premises considered, the City and the Chamber agree to enter into this Agreement as follows: ARTICLE I ECONOMIC DEVELOPMENT PROGRAM Section 1.01. Economic Development Program. The City and Chamber agree to work together to develop an economic development program (the "Program") to promote economic development and to stimulate business and commercial activity in the City of Round Rock. The City and the Chamber anticipate that the Program will include elements for (1) existing business retention and expansion, (2) recruitment of new business, (3) small business development, (4) planning for the expansion of necessary infrastructure, and (5) the development of appropriate criteria for government incentives. ARTICLE II ADMINISTRATION Section 2.01. Chamber's Administration Responsibilities. The Chamber agrees to provide a qualified and competent staff, including at least one full time professional, to be assigned to the promotion of economic development and the attraction of business and industry to the City. The Chamber agrees to provide the management and administrative services necessary to operate the 115628/0114.0373/ps 1 Chamber and the Program and to implement the Program. With respect to the retention and expansion of existing businesses, the Chamber agrees that its efforts will include the following: a) systematic visitation program; b) the support of small business; c) programs that promote business among local industry; and d) general support of existing Chamber members. With respect to recruitment of new business, the Chamber agrees that its efforts will include the following: a) the development of prospects; b) organizing and conducting recruitment trips and trade shows; c) the gathering and dissemination of information regarding available buildings and development sites; d) marketing and advertising; and e) maintaining adequate and pertinent community data such as demographics and economic information that supports the Program. Section 2.02. City's Administration Responsibilities. The City agrees to provide qualified and competent staff assigned to the promotion of economic development and the attraction of business and industry to the City. The City agrees to provide the management and administrative services necessary to implement the Program. The City agrees to continue its efforts to provide for the planning and construction of expansions and upgrades to the infrastructure necessary for the Program, including roads, water and wastewater, and related infrastructure needs. The City agrees to supply general support to the Chamber in fulfilling its responsibilities as set forth in Sec. 2.01 above. Section 2.03. Joint Chamber and City Responsibilities. The Chamber and City agree that from time to time it will be necessary for both parties to work closely together on special projects. An example of a previous special project is the Higher Education Center (the "HEC"), Because each special project will have unique needs, the parties agree that the division of responsibilities will be determined and agreed upon on a case-by-case basis. ARTICLE III FUNDING Section 3.01. Submission of Budget. On or before April I st of each year, the Chamber shall submit a proposed action plan and budget for the Program for the City's upcoming fiscal year. The budget submitted by the Chamber shall translate the Program action plans into financial terms, and shall contain comparative columns showing previous year actual, current year budget and requested budget for the upcoming year. Revenues should be categorized by major source and expenses categorized by purpose. 2 Section 3.02. Budget Review and Funding. The City agrees to review the proposed budget and to take action thereon prior to the beginning of its fiscal year. Subject to the consent and approval of the City Council, the City agrees that it will budget a sum of money each fiscal year to be paid to the Chamber in consideration of its responsibilities and services to be provided as described herein. The Chamber shall submit a monthly expense report as soon as possible after the conclusion of each month and shall be reimbursed by the City on a monthly basis for expenses incurred in accordance with the approved budget within thirty (30) days of receipt of the request. The Chamber agrees that it will continue to provide financial support for the Program on an annual basis as budgeted and approved by the Chamber's Board of Directors. Section 3.03. Quarterly Financial Statements and Progress Reports. On a monthly basis, the Chamber agrees to provide the City with a financial report detailing the revenues received and expenditures made in relation to the approved budget. A quarterly program progress report will also be developed and provided to the City. Section 3.04. Annual Audit. No later than six (6) months following the end of the Chamber's fiscal year, the Chamber agrees to provide the City with a copy of its annual audit which shall include the Program funds and expenditures. The annual audit shall be prepared by an independent public accountant in accordance with generally accepted accounting standards. The Chamber agrees to permit the audit of these funds and expenditures by the City or its designated auditor. ARTICLE IV ECONOMIC DEVELOPMENT PROGRAM OVERSIGHT COMMITTEE 4.01. Purpose. The City and Chamber hereby agree that it is in the best interest of each of them to create a committee for the purpose of providing ongoing and permanent oversight to ensure that the goals and objectives of the Program are being met and that taxpayer dollars are being spent in an efficient and cost effective manner. 4.02. Creation. The City and Chamber hereby agree to create a committee to be called the Economic Development Program Oversight Committee (the "Committee"). 4.03. Membership and Organization. (a) Number. The Committee will be composed of fifteen (15) members, six (6) of which shall be permanent members and nine (9) of which will be non -permanent members. The six (6) permanent members will appoint the nine (9) non -permanent members. (b) Qualifications. The City will have three (3) permanent members composed of the a City Council representative, the City Manager, and a member of the City staff designated by the City Manager. The Chamber will have three (3) permanent members composed of the Chair, the President, and the Momentum Chair. The nine (9) non -permanent members shall be (i) members of the Chamber and (ii) either be 3 residents of or employed within the City's corporate limits or its extraterritorial jurisdiction. The nine (9) non -permanent members shall have demonstrated a long- standing interest in the Chamber and in the economic development of the City. Where possible, the nine (9) non -permanent members shall represent a broad cross- section of the Chamber and the Round Rock community. (c) Terms for non -permanent members. The non -permanent members shall serve for three (3) years or until their successors are appointed; however, for the initial appointments, three (3) shall serve for one year, three (3) shall serve for two years, and three (3) shall serve for three years. Vacancies shall be filled for the remainder of any unexpired term. (d) Officers. The City Council representative shall be the chair and presiding officer of the Committee. The Chamber Chairman shall be the vice -chair of the Committee. Other officers and sub -committees shall be appointed at the discretion of the members of the Committee. 4.04. Duties. The purpose of the Committee is to provide for efficient, economical, and effective controls to ensure that the goals and objectives of the Program are being timely met. The duties of the Committee shall be strictly advisory in nature and it shall have no authority to obligate the City or the Chamber in any financial way, nor shall the Committee have the authority to make expenditures of City or Chamber funds. The Committee shall be advisory only and specifically shall have no rule- making or quasi-judicial power. The Committee is not a department, agency or political subdivision of the City. In addition, responsibilities of the Committee shall include: a) oversight of Round Rock Economic Development budget; b) oversight of monthly Round Rock Economic Development financial statements; c) oversight of strategic plan and program activities; and d) maintaining confidentiality of projects. 4.05. Reporting. The Committee shall make semi-annual reports to the City Council and the Chamber Board of the status of the goals and objectives of the Program, including the accomplishments since the last report, and describing ongoing efforts and future plans regarding the Program. ARTICLE V TERM Section 5.01. Term of Agreement. The term of this Agreement shall commence on the execution hereof and extend to September 30, 2010. Regardless of the foregoing, both parties anticipate this 4 Agreement to be a long-term multi-year relationship between the City and the Chamber, subject to annual renewals thereof. Section 5.02. Termination or Cancellation. Except as provided below, this Agreement may only be cancelled or terminated upon mutual consent of the parties. Upon termination as provided herein, all obligations shall cease herein, and the City shall only provide funding for expenses actually expended or incurred up to the date of termination; provided, however, that the City shall not have an obligation to fund such incurred expenses unless the City receives the benefit of such expenses. Any and all funds paid to the Chamber in accordance with Article III of this Agreement, which are not used to pay actual expenses prior to the date of termination, shall be returned to the City. If either party defaults in the performance of this Agreement, or materially breaches any of its provisions, the defaulting party shall have thirty (30) days after delivery to it of written notice of such default within which to cure such default. If the defaulting party fails to cure its default within such period of time, then the non -defaulting party shall have the right without further notice to terminate this Agreement. ARTICLE VI MISCELLANEOUS PROVISIONS Section 6.01. Relationship of Parties. Nothing contained herein shall be deemed or construed to make the City, the agent, servant, or employee of the Chamber, or to create any partnership, joint venture, or other association between City and the Chamber. Alternatively, nothing contained herein shall be deemed or construed to make the Chamber the agent, servant, or employee of the City, or to create any partnership, joint venture, or other association between the Chamber and the City. Section 6.02. Amendment. This Agreement may not be altered, waived, amended or extended except by an instrument in writing approved by the Round Rock City Council and the Board of Directors of the Chamber. Section 6.03. Notice. Any notice required by this Agreement shall be sent to the following: To the City: City of Round Rock James R. Nuse, P.E., City Manager 221 E. Main St. Round Rock, Texas 78664 With copy to: Stephan L. Sheets City Attorney 309 E. Main St. Round Rock, Texas 78664 5 To the Chamber: Round Rock Chamber of Commerce Tom Manskey, President 212 E. Main St. Round Rock, Texas 78664 With copy to: Round Rock Chamber of Commerce Chair 212 E. Main St. Round Rock, Texas 78664 Section 6.04. Applicable Law. This Agreement shall be governed exclusively by the provisions hereof and by the applicable laws of the State of Texas. Venue for any proceeding to enforce this Agreement shall be in Williamson County, Texas. Section 6.05. Successors and Assigns. The terms and provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Section 6.06. Non -Appropriation. The obligation of the City for payment and any other monetary obligations under this Agreement are each subject to an appropriation and, accordingly, (a) shall constitute a current expense of the City in the fiscal year to which an obligation applies and (b) shall not constitute an indebtedness of the City within the meaning of any applicable governmental rule. Nothing herein shall constitute a pledge by the City of any funds, other than fimds designated pursuant to lawful appropriations from time to time to pay any money or satisfy any other monetary obligation under any provision of this Agreement. IN WITNESS WHEREOF, this Agreement is entered into and effective as of the day of , 2009. Round Rock Chamber of Commerce City of Round Rock, Texas by: by: Tom Manskey, its President Alan McGraw, Mayor Attest: 6 Sara L. White, City Secretary For City, Approved as to Form: Stephan L. Sheets, City Attorney DATE: October 15, 2009 SUBJECT: City Council Meeting — October 22, 2009 ITEM: 11D3. Consider a resolution executing the Economic Development Program Administration Funding Agreement with the Round Rock Chamber of Commerce. Department: Staff Person: Justification: Finance Department Cheryl Delaney, Finance Director On September 22, 2005, the City approved an Economic Development Program Administration Agreement with the Round Rock Chamber of Commerce. This item enhances that agreement by extending the agreement time period until September 30, 2010. Funding: Cost: N/A Source of funds: N/A Outside Resources: N/A Background Information: Public Comment: N/A EXECUTED DOCUMENT FOLLOWS THE CHAMBER ROUND ROCK TEXAS ECONOMIC DEVELOPMENT PARTNERSHIP MEMO October 20, 2009 RE: City Funding and Incentive Reserves To: The City of Round Rock From: Joe Vining The City and the chamber have entered into an annual agreement to fund economic development since 2004. The City had committed to funding up to $480,000 per year prior to this year's budget. The amount has been reduced for FY'09-'10 to $450,000. The funds are transferred to the Chamber to reimburse actual eligible expenses on a monthly basis. The agreement requires the Chamber to carry out an economic development program. Professional staff is charged with creating a program of work concentrating on recruitment and marketing, business retention and expansion, and research. In addition, the Chamber is required to raise private funds to support the City funding effort though their Momentum program. The annual budget allocation from these funds is now set at $250,000 per year, down from $300,000 in previous years. This fiscal year both the City and the Chamber will set aside reserve funds to provide cash incentives to close deals for qualified target industries. These funds will allow, under certain circumstances, our community to compete with other cities as we all try to increase our tax bases, grow the number of jobs in our city and prepare ourselves for an ever changing global economy. Joe Vining ADMINISTRATION AND FUNDING AGREEMENT FOR THE CITY OF ROUND ROCK ECONOMIC DEVELOPMENT PROGRAM by and between THE CITY OF ROUND ROCK, TEXAS and THE ROUND ROCK CHAMBER OF COMMERCE Dated: October 22, 2009 ADMINISTRATION AND FUNDING AGREEMENT FOR THE CITY OF ROUND ROCK ECONOMIC DEVELOPMENT PROGRAM This Administration and Funding Agreement for the City of Round Rock Economic Development Program (the "Agreement") is made and entered into as of 2009 by and between the City of Round Rock (the "City"), a Texas home rule municipal corporation, and the Round Rock Chamber of Commerce (the "Chamber"), a corporation organized and existing under the laws of the State of Texas. WITNES SETH WHEREAS, §380.001 of the Texas Local Government Code provides that the governing body of a municipality may establish and provide for the administration of one or more programs to promote state or local economic development and to stimulate business and commercial activity in the municipality; and WHEREAS, said §380.001 also provides that the governing body may administer such programs by the use of municipal personnel and may contract with another entity for the administration of a program; and WHEREAS, the City and the Chamber wish to jointly develop a program to promote economic development and to stimulate business and commercial activity in the City of Round Rock; Now therefore: Premises considered, the City and the Chamber agree to enter into this Agreement as follows: ARTICLE 1 ECONOMIC DEVELOPMENT PROGRAM Section 1.01. Economic Development Program. The City and Chamber agree to work together to develop an economic development program (the "Program") to promote economic development and to stimulate business and commercial activity in the City of Round Rock. The City and the Chamber anticipate that the Program will include elements for (1) existing business retention and expansion, (2) recruitment of new business, (3) small business development, (4) planning for the expansion of necessary infrastructure, and (5) the development of appropriate criteria for government incentives. ARTICLE II ADMINISTRATION Section 2.01. Chamber's Administration Responsibilities. The Chamber agrees to provide a qualified and competent staff, including at least one full time professional, to be assigned to the promotion of economic development and the attraction of business and industry to the City. The Chamber agrees to provide the management and administrative services necessary to operate the 115628/0114.0373/ps 1 Chamber and the Program and to implement the Program. With respect to the retention and expansion of existing businesses, the Chamber agrees that its efforts will include the following: a) systematic visitation program; b) the support of small business; c) programs that promote business among local industry; and d) general support of existing Chamber members. With respect to recruitment of new business, the Chamber agrees that its efforts will include the following: a) the development of prospects; b) organizing and conducting recruitment trips and trade shows; c) the gathering and dissemination of information regarding available buildings and development sites; d) marketing and advertising; and e) maintaining adequate and pertinent community data such as demographics and economic information that supports the Program. Section 2.02. City's Administration Responsibilities. The City agrees to provide qualified and competent staff assigned to the promotion of economic development and the attraction of business and industry to the City. The City agrees to provide the management and administrative services necessary to implement the Program. The City agrees to continue its efforts to provide for the planning and construction of expansions and upgrades to the infrastructure necessary for the Program, including roads, water and wastewater, and related infrastructure needs. The City agrees to supply general support to the Chamber in fulfilling its responsibilities as set forth in Sec. 2.01 above. Section 2.03. Joint Chamber and City Responsibilities. The Chamber and City agree that from time to time it will be necessary for both parties to work closely together on special projects. An example of a previous special project is the Higher Education Center (the "HEC"). Because each special project will have unique needs, the parties agree that the division of responsibilities will be determined and agreed upon on a case-by-case basis. ARTICLE III FUNDING Section 3.01. Submission of Budget. On or before April 1st of each year, the Chamber shall submit a proposed action plan and budget for the Program for the City's upcoming fiscal year. The budget submitted by the Chamber shall translate the Program action plans into financial terms, and shall contain comparative columns showing previous year actual, current year budget and requested budget for the upcoming year. Revenues should be categorized by major source and expenses categorized by purpose. 2 Section 3.02. Budget Review and Funding. The City agrees to review the proposed budget and to take action thereon prior to the beginning of its fiscal year. Subject to the consent and approval of the City Council, the City agrees that it will budget a sum of money each fiscal year to be paid to the Chamber in consideration of its responsibilities and services to be provided as described herein. The Chamber shall submit a monthly expense report as soon as possible after the conclusion of each month and shall be reimbursed by the City on a monthly basis for expenses incurred in accordance with the approved budget within thirty (30) days of receipt of the request. The Chamber agrees that it will continue to provide financial support for the Program on an annual basis as budgeted and approved by the Chamber's Board of Directors. Section 3.03. Quarterly Financial Statements and Progress Reports. On a monthly basis, the Chamber agrees to provide the City with a financial report detailing the revenues received and expenditures made in relation to the approved budget. A quarterly program progress report will also be developed and provided to the City. Section 3.04. Annual Audit. No later than six (6) months following the end of the Chamber's fiscal year, the Chamber agrees to provide the City with a copy of its annual audit which shall include the Program funds and expenditures. The annual audit shall be prepared by an independent public accountant in accordance with generally accepted accounting standards. The Chamber agrees to permit the audit of these funds and expenditures by the City or its designated auditor. ARTICLE IV ECONOMIC DEVELOPMENT PROGRAM OVERSIGHT COMMITTEE 4.01. Purpose. The City and Chamber hereby agree that it is in the best interest of each of them to create a committee for the purpose of providing ongoing and permanent oversight to ensure that the goals and objectives of the Program are being met and that taxpayer dollars are being spent in an efficient and cost effective manner. 4.02. Creation. The City and Chamber hereby agree to create a committee to be called the Economic Development Program Oversight Committee (the "Committee"). 4.03. Membership and Organization. (a) Number. The Committee will be composed of fifteen (15) members, six (6) of which shall be permanent members and nine (9) of which will be non -permanent members. The six (6) permanent members will appoint the nine (9) non -permanent members. (b) Qualifications. The City will have three (3) permanent members composed of the a City Council representative, the City Manager, and a member of the City staff designated by the City Manager. The Chamber will have three (3) permanent members composed of the Chair, the President, and the Momentum Chair. The nine (9) non -permanent members shall be (i) members of the Chamber and (ii) either be 3 residents of or employed within the City's corporate limits or its extraterritorial jurisdiction. The nine (9) non -permanent members shall have demonstrated a long- standing interest in the Chamber and in the economic development of the City. Where possible, the nine (9) non -permanent members shall represent a broad cross- section of the Chamber and the Round Rock community. (c) Terms for non -permanent members. The non -permanent members shall serve for three (3) years or until their successors are appointed; however, for the initial appointments, three (3) shall serve for one year, three (3) shall serve for two years, and three (3) shall serve for three years. Vacancies shall be filled for the remainder of any unexpired term. (d) Officers. The City Council representative shall be the chair and presiding officer of the Committee. The Chamber Chairman shall be the vice -chair of the Committee. Other officers and sub -committees shall be appointed at the discretion of the members of the Committee. 4.04. Duties. The purpose of the Committee is to provide for efficient, economical, and effective controls to ensure that the goals and objectives of the Program are being timely met. The duties of the Committee shall be strictly advisory in nature and it shall have no authority to obligate the City or the Chamber in any financial way, nor shall the Committee have the authority to make expenditures of City or Chamber funds. The Committee shall be advisory only and specifically shall have no rule- making or quasi-judicial power. The Committee is not a department, agency or political subdivision of the City. hr addition, responsibilities of the Committee shall include: a) oversight of Round Rock Economic Development budget; b) oversight of monthly Round Rock Economic Development financial statements; c) oversight of strategic plan and program activities; and d) maintaining confidentiality of projects. 4.05. Reporting. The Committee shall make semi-annual reports to the City Council and the Chamber Board of the status of the goals and objectives of the Program, including the accomplishments since the last report, and describing ongoing efforts and future plans regarding the Program. ARTICLE V TERM Section 5.01. Term of Agreement. The term of this Agreement shall commence on the execution hereof and extend to September 30, 2010. Regardless of the foregoing, both parties anticipate this 4 Agreement to be a long-term multi-year relationship between the City and the Chamber, subject to annual renewals thereof. Section 5.02. Termination or Cancellation. Except as provided below, this Agreement may only be cancelled or terminated upon mutual consent of the parties. Upon termination as provided herein, all obligations shall cease herein, and the City shall only provide funding for expenses actually expended or incurred up to the date of termination; provided, however, that the City shall not have an obligation to fund such incurred expenses unless the City receives the benefit of such expenses. Any and all funds paid to the Chamber in accordance with Article III of this Agreement, which are not used to pay actual expenses prior to the date of termination, shall be returned to the City. If either party defaults in the performance of this Agreement, or materially breaches any of its provisions, the defaulting party shall have thirty (30) days after delivery to it of written notice of such default within which to cure such default. If the defaulting party fails to cure its default within such period of time, then the non -defaulting party shall have the right without further notice to terminate this Agreement. ARTICLE VI MISCELLANEOUS PROVISIONS Section 6.01. Relationship of Parties. Nothing contained herein shall be deemed or construed to make the City, the agent, servant, or employee of the Chamber, or to create any partnership, joint venture, or other association between City and the Chamber. Alternatively, nothing contained herein shall be deemed or construed to make the Chamber the agent, servant, or employee of the City, or to create any partnership, joint venture, or other association between the Chamber and the City. Section 6.02. Amendment. This Agreement may not be altered, waived, amended or extended except by an instrument in writing approved by the Round Rock City Council and the Board of Directors of the Chamber. Section 6.03. Notice. Any notice required by this Agreement shall be sent to the following: To the City: City of Round Rock James R. Nuse, P.E., City Manager 221 E. Main St. Round Rock, Texas 78664 With copy to: Stephan L. Sheets City Attorney 309 E. Main St. Round Rock, Texas 78664 5 To the Chamber: Round Rock Chamber of Commerce Tom Manskey, President 212 E. Main St. Round Rock, Texas 78664 With copy to: Round Rock Chamber of Commerce Chair 212 E. Main St. Round Rock, Texas 78664 Section 6.04. Applicable Law. This Agreement shall be governed exclusively by the provisions hereof and by the applicable laws of the State of Texas. Venue for any proceeding to enforce this Agreement shall be in Williamson County, Texas. Section 6.05. Successors and Assigns. The terms and provisions ofthis Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Section 6.06. Non -Appropriation. The obligation of the City for payment and any other monetary obligations under this Agreement are each subject to an appropriation and, accordingly, (a) shall constitute a current expense of the City in the fiscal year to which an obligation applies and (b) shall not constitute an indebtedness of the City within the meaning of any applicable governmental rule. Nothing herein shall constitute a pledge by the City of any funds, other than funds designated pursuant to lawful appropriations from time to time to pay any money or satisfy any other monetary obligation under any provision of this Agreement. YM IN WITNESS WHEREOF, this Agreement is entered into and effective as of the day of , 2009. Round Rock Chamber o by: /�"i ,,cam, Toni Manskey, its Pres' ent Commerce City of Round Rock, Texas 6 by: Th Alan McGraw, Mayor Sara L. White, City Secretary For it , Approved s to Form: L. Sheets, City Attorney