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<br />-2- <br /> <br />and <br /> <br />in proportion <br /> <br />to <br /> <br />the <br /> <br />proposed <br /> <br />budget <br /> <br />which is marked Appendix <br /> <br />II A" <br /> <br />and <br /> <br />attached <br /> <br />to <br /> <br />this <br /> <br />Agreement for all intents and purposes as <br /> <br />though fully set <br /> <br />out <br /> <br />herein. <br /> <br />Chamber <br /> <br />further <br /> <br />agrees to <br /> <br />submit <br /> <br />a <br /> <br />semi-annual <br /> <br />report of <br /> <br />activities <br /> <br />and <br /> <br />expenditures <br /> <br />resulting <br /> <br />from <br /> <br />previously allocated <br /> <br />funds. <br /> <br />III. <br /> <br />It is hereby agreed that a Tourist Development <br /> <br />Council <br /> <br />shall <br /> <br />be <br /> <br />formed to serve as an advisory committee to the Chamber and no <br />funds allocated from said tax shall be expended without the <br />advice and consent of said Council. The members of said Council <br /> <br />shall be as follows: two (2) members appointed by the San Marcos <br />Chamber of Commerce, two ( 2) members appointed by the Hispanic <br />Chamber of Commerce, two ( 2) members appointed by the Ci ty Council, <br /> <br />and one (I) member appointed by the Hotel/Motel Association. <br /> <br />The <br /> <br />City <br /> <br />~1anager <br /> <br />of <br /> <br />City <br /> <br />and <br /> <br />the <br /> <br />Executive Vice-President of Chamber shall <br /> <br />be ex-officio members of the Committee. <br /> <br />IV. <br /> <br />It <br /> <br />is <br /> <br />hereby <br /> <br />further agreed <br /> <br />that an advisory committee to <br /> <br />the <br /> <br />Tourist Development <br /> <br />Council shall be <br /> <br />formed to <br /> <br />give <br /> <br />recommendations <br /> <br />and advice to the Chamber and Tourist Development Council regarding the <br /> <br />arts. <br /> <br />Said <br /> <br />advisory committee for the arts shall <br /> <br />advise the Chamber <br /> <br />and the Tourist Development Council specifically on the expenditure <br /> <br />of <br /> <br />funds <br /> <br />under <br /> <br />Section 26-2l(d) of the ordinance. <br /> <br />The membership of the <br /> <br />advisory committee is agreed to be composed of <br /> <br />five <br /> <br />( 5 ) <br /> <br />persons <br /> <br />who <br /> <br />shall serve for a term of one year. <br /> <br />Three <br /> <br />(3) of <br /> <br />said members <br /> <br />shall <br /> <br />be <br /> <br />appointed <br /> <br />by <br /> <br />the <br /> <br />Ci ty <br /> <br />Council, <br /> <br />and <br /> <br />two <br /> <br />(2) members shall <br /> <br />be <br /> <br />appointed by <br /> <br />the President of <br /> <br />the Chamber. <br /> <br />v. <br /> <br />The <br /> <br />City <br /> <br />Council <br /> <br />specifically stipulates and the Chamber hereby <br /> <br />agrees that no less than Fifteen Thousand Dollars <br /> <br />($15,000) <br /> <br />or <br /> <br />one <br /> <br />half <br /> <br />( 1/2 ) <br /> <br />of <br /> <br />one <br /> <br />per <br /> <br />cent (1%) of the annual gross of all funds <br /> <br />collected by City and paid to Chamber under this <br /> <br />Ag reemen t <br /> <br />from <br /> <br />the <br /> <br />hote 1 <br /> <br />room <br /> <br />occupancy tax, whichever is <br /> <br />greater, <br /> <br />will be <br /> <br />allocated <br /> <br />annually <br /> <br />to <br /> <br />those <br /> <br />uses <br /> <br />set <br /> <br />ou t in <br /> <br />Sec tion <br /> <br />26-2l(d) of <br /> <br />the <br /> <br />ordinance. <br /> <br />However, under no circumstances will more than twenty-five <br />