Laserfiche WebLink
of up to twenty thousand dollars ($20,000.00) from the City upon presentment of written <br />documentation indicating anticipated expenses in furtherance of the purposes identified in <br />Ordinance NS -1715. Such written documentation shall be approved by the Executive Director of <br />Community Development Agency or his or her designee. Any such advance shall be deducted <br />from BID assessment monies collected and deposited. SABC agrees that such advance shall only <br />apply to the first the $20,000.00 of available funds and before any subsequent reimbursements <br />can be made, SABC shall sufficiently document such advance by accompanying receipts, <br />purchase invoices, or other permanent evidences of expenditure as may be prudently required by <br />the City in accordance with Generally Accepted Accounting Principles and established City <br />accounting procedures. <br />(g) The City shall make all reasonable good -faith efforts to deposit BID assessment <br />monies collected each month by the 15`h day of the month following; provided that where the 15`h <br />day falls on a weekend, holiday, or other day in which City Hall is closed, then said deposit shall <br />be made the next day City Hall is open. <br />(h) The City shall also deposit monthly an interest payment equivalent to the average <br />amount of the daily balances for the period of the preceding month. <br />(i) The City upon depositing BID assessment monies shall notify SABC by electronic <br />mail of the net amount of monies available for reimbursement to SABC. Failure by SABC to <br />receive or acknowledge electronic mail notification shall not constitute a breach of this <br />Agreement. <br />0) The City upon receipt of a written request for reimbursement submitted by SABC for <br />documented expenses, shall inspect and examine each request to ensure that all expenses submitted <br />for reimbursement are for the purposes identified in Ordinance NS -1715 and that all expenses <br />submitted are sufficiently documented by accompanying receipts, purchase invoices, or other <br />permanent evidences of expenditure as may be prudently required by the City in accordance with <br />Generally Accepted Accounting Principles and established City accounting procedures. <br />Reimbursement requests shall be approved by the Executive Director of the Community <br />Development Agency or his or her designee. <br />(k) The amount of any approved reimbursement made by the City shall not exceed the net <br />finds available for such reimbursement. In the event that a reimbursement request submitted by <br />SABC exceeds the balance of available funds, the City shall prorate the reimbursement accordingly. <br />(1) The City shall make all reasonable good -faith efforts to process reimbursement <br />requests within 15 working days and to issue a reimbursement check for the approved amount or <br />make equivalent electronic payment to SABC. <br />(m) In the event questions arise relating to the balance of funds available to SABC, <br />SABC may within 15 days of notification request an accounting by the City of the amount of net <br />W1 <br />