Res 1984-028 - Laserfiche WebLink

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-2- solicitation and operating program to attract conventions and visitors to the City. Chamber further agrees to submit an annual budget to City requesting funds available from the revenue of said tax. Chamber further agrees to submit a semi-annual report of activities and expenditures from previously allocated funds. III. It is hereby agreed that a Tourist Development Committee shall be formed to serve as an advisory committee to Chamber and no funds allocated from said tax shall be expended without the advice and consent of said committee. The membership of the committee shall be five (5) persons who shall serve for a term of one year. It is specifically agreed between the parties hereto that two (2) members shall be appointed by the Board of Directors of Chamber. The fifth (5th) member shall be selected by the four (4) appointees. The City Manager of City and Manager of Chamber shall be ex-officio members of the Committee. IV. It is hereby further agreed that a subcommittee of the Tourist Development Committee shall be formed to serve as an advisory committee to Chamber on the arts. Said subcommittee for the arts shall advise Chamber on the expenditure of funds under Section 26-21(a), 26-21 (f), and 26-21(g) of the ordinance. The membership of the subcommittee is agreed to be composed of three ( 3) persons who shall serve for a term of one year. Two (2) of said members shall be appointed by the City Council, and one (1) member shall be appointed by Board of Directors of Chamber. V. The City Council specifically stipulates and the Chamber hereby agrees that no less than Seven Thousand Dollars ($7,000) or one half (1/2) of one percent (1%) of the annual gross of all funds collected by City from the hotel,)êoomoccupancy tax whichever amount is greater, must be allocated to those uses set out in Section 26-2l(a), 26-21(f) and 26-2l(g) of the ordinance, but in no event shall the total amount allocated