HomeMy WebLinkAboutRES.2681.03-19-2012BILL NO. 12-28
RESOLUTION NO. L)2 "y /
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE A CONTRACT FOR SERVICES WITH CAPE
GIRARDEAU AREA MAGNET
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS:
ARTICLE 1. The City Manager, 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. A copy of
the Contract is attached hereto and made a part ereo
PASSED AND ADOPTED THIS 19 DAY OF 2012.
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CONTRACT FOR SERVICES
THIS AGREEMENT is made and entered into this Q04 day of rV 2012,
by and between the CAPE GIRARDEAU AREA MAGNET ("MAGNET") and the CITY 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:
1. The contract for services between the parties hereto dated December 28, 2010, is
hereby terminated, and this contract for services is hereby entered into in lieu thereof.
2. TERM The term of this agreement shall be for four (4) years beginning
January 1, 2012, and ending December 31, 2015.
3. PAYMENT In 2012, Founder shall pay to MAGNET the sum of Sixty -Six
Thousand Three Hundred Fifteen Dollars ($66,315). And, in 2013, 2014 and 2015, Founder shall
pay to MAGNET the sum of Sixty -Six Thousand Nine Hundred Seventy -Eight Dollars ($66,978)
per year. Each year, during the term of this agreement, payments shall be made to MAGNET in
four equal quarterly installments payable January 1, April 1, July 1 and October 1 of each year.
4. 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.
5. FOUNDER REPRESENTATIVE 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.
6. 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.
7. 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.
8. BOOKS AND RECORDS All books and records of MAGNET prepared and
maintained in the course of its operations 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.
9. NON -AGENCY Nothing contained herein shall be construed as an agency
agreement. MAGENT'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.
10. 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.
11. 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.
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IN WITNESS WHEREOF, the parties have duly executed this agreement in duplicate
the day and year first above written.
CAPE GIRARDEAU AREA MAGNET
Chairman o he Board of Directors
xecutive Director
CITY OF"CAIPE GIRARDEAU
ATTEST:
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Gayle . Conrad, City Clerk