HomeMy WebLinkAboutRES.2038.02-07-2005 BILL NO. 05-29 RESOLUTION NO. , 1 �_
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A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE
A CONTR.ACT FOR SERVICES WITH CAPE GIRARDEAU
AREA MAGNET FOR INDUSTRIAL RECRUITMENT
SERVICES
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU,
, MISSOURI, AS FOLLOWS :
ARTICLE 1 . The Mayor, for and on behalf of the City of Cape
Girardeau, Missouri, is hereby authorized to execute a Contract
for Services with Cape Girardeau Area Magnet for industrial
recruitment services . A copy of said Contract is attached to
this Resolution and made a part hereof.
PASSED AND ADOPTED THIS �� DAY OF � � � ,
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� �`r Ja . Knudtson, Mayor
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Gayle L. Co ad
City Clerk
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CONTRACT FOR SERVICES
THIS AGREEMENT is made and entered into this _ ,� _day of ,
2005,by and between the CAPE GIRARDEAU AREA MAGNET("MAGNET")and the TY OF
CAPE GIRARDEAU, MISSOURI ("Founder").
WHEREAS, Founder is one of a group of Founders which have established MAGNET to
provide services to Founder; and
WHEREAS,MAGNET has been constituted a general not-for-profit corporation in the State
of Missouri,whose corporate purpose is to actively solicit business,industry and commerce for the
greater Cape Girardeau, Missouri, area; and
WHEREAS,Founder is to receive the direct and indirect benefit of the activities and efforts
of MAGNET.
NOW, THEREFORE, the parties agree as follows:
L TERM The term of this agreement shall be for three (3) years beginning
January 1, 2005, and ending December 31, 2007.
2. PAYMENT In 2005, Founder shall pay to MAGNET the sum of Fifty Six
Thousand Three Hundred Seventy-Five Dollars($56,375). In 2006,Founder shall pay to MAGNET
the sum of Fifty Nine Thousand One Hundred Ninety-Four pollars ($59,194). And, in 2007,
Founder shall pay to MAGNET the sum of Sixty Thousand Six Hundred Seventy-Four pollars
($60,674). Each year during the term of this agreement, payments shall be made to MAGNET in
four quarterly installments payable January 1, April 1, July 1 and October 1 of each year.
3. SERVICES MAGNET will provide to Founder the direct and indirect benefit of
MAGNET carrying out the stated corporate purposes of MAGNET which is to solicit and recruit
business and commerce to the Cape Girardeau, Missouri, area through establishing an office and
hiring personnel to pursue industrial recruitment on a full-time basis as directed by the member of
the Board of Directors of MAGNET made up of individuals elected and appointed by the Founders
of MAGNET.
4. FOUNDER REPRESENTATION Founder shall have the right to select two(2)of
MAGNET's seven(7)member board of directors,which two directors shall serve staggered terms to
be determined in accordance with the bylaws of MAGNET.
5. ANNUAL REPORTS MAGNET will report, not less than annually, to
Founder on its recruitment and promotional activities and its financial transactions including details
of receipts and expenditures.
6. AREA PROMOTED MAGNET will promote the aggregate geographic area
represented by all Founders and shall not promote any activity outside said geographic area without
the express unanimous consent of the directors of MAGNET. The aggregate geographic area
represented by Founders is that area within the boundary of Cape Girardeau County,Missouri,and
within the cities of Cape Girardeau, Jackson and Scott City, Missouri.
7. BOOKS AND RECORDS All books and records of MAGNET prepared and
maintained in the course of its operation shall be the property of MAGNET and except for the
annual reporting above provided for the information contained therein shall be available to Founder
and only through Founder's duly elected or appointed representative(s)to the board of directors of
MAGNET.
8. NON-AGENCY Nothing contained herein shall be construed as an agency
agreement. MAGNET's only relationship with Founder is to provide the services set out herein and
has no authority to,and will not represent itself to have authority to,act on behalf of Founder in any
manner except as provided herein.
9. PUBLIC LIABILITY INSURANCE MAGNET agrees to maintain at all times
during the term of this agreement, comprehensive public liability insurance in a responsible
insurance company, licensed to do business in the State of Missouri, properly protecting and
indemnifying Founder in an amount of not less than$100,000 for injury or death to any one person;
$1,000,000 for injury or death to any two or more persons arising out of any one occurrence.
MAGNET shall have Founder designated as an additional insured on such policy of public liability
insurance.
10. TERMINATION Founder shall have the right to terminate this agreement for
any calendar year of the agreement (after the first calendar year) by giving written notice to
MAGNET of its intention to so terminate. The written notice of termination shall be provided
MAGNET on or before September 30 preceding the year Founder is to terminate its obligations
under this contract.
IN WITNESS WHEREOF,the parties have duly executed this agreement in duplicate the
day and year first above written.
CarE GiRaRnEau AREa MAGNET
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Chairman of the Board of Directors
xecutive Di ctor
CITY OF CAPE GIRARDEAU
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ATTEST:
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City C e k