A. All contracts for services shall specify a contract dollar amount for services to be provided.

B. All contracts for services shall require and the contractor shall provide liability insurance and indemnification of the city insuring and indemnifying the city against any and all claims arising out of the selection of the contract and/or the contractor’s performance of the contract. Such insurance and indemnification shall be in a form, amount and coverage satisfactory to the city.

C. All contracts for services shall provide that the city may audit or cause an audit of the books, records and transactions of the contractor as to any use of contract funds.

D. All physical assets acquired by a non-profit contractor providing services for a service business improvement district with city contract funds or assets shall be held, maintained and delivered to possession of the city at the end of the contract as city assets. Such assets shall include all unencumbered cash or its equivalent including services, and other assets loaned or provided to the contractor by or through the city regardless of funding source. (Ord. 05-041 § 3, 2005)