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<br />request for funding for the next fiscal year. Within 60 days after the expiration of the term <br />hereof, Chamber will provide City with a detailed report of the purposes for which the <br />funds paid hereunder were expended, which report shall be subject to the review and <br />approval of the City's Finance Director, who shall have the right to audit Chamber's <br />records and accounts. City shall have the further right to require a special report and <br />account of said funds at any time during the term hereof, which special report shall be made <br />by Chamber within 30 days from the date of the request therefor. The aforementioned <br />fiscal year report shall also set forth in detail the manner in which the activities described in <br />paragraph l(b) were accomplished and how the accomplishment of said activities materially <br />contributed to the promotion and development of commerce and industry in the City of <br />Redwood City. <br />3. Term. The term ofthis agreement is one year, commencing July I, 1996, <br />and terminating June 30, 1997. <br />IN WITNESS WHEREOF, the parties hereto have executed this agreement the day <br />and year first hereinabove written. <br /> CITY OF REDWOOD CITY, a municipal <br /> Corporation of the e of California <br /> 1 ' ,- <br /> By <br /> REDWOOD CITY - SAN MATEO <br /> COUNTY CHAMBER OF COMMERCE <br /> B~~t~ <br />ATTEST: Presl ent <br />C~R~'~ By .~~- <br /> ~ ~~ <br /> /-">v <br /> Executive Vice President <br /> 3 <br /> ~. <br />