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public purpose of the production of this in-person event. The failure of the Nonprofit to use <br /> the funds provided under this Contract for this sole public purpose shall be considered a <br /> breach of this Contract and will result in the automatic termination of this Contract. <br /> SECTION 4. Use of Funds: Funds provided under this Contract are generated by the <br /> City's Hotel Occupancy Tax to be used only in furtherance of the activities identified in <br /> Section 3. <br /> The City's Hotel Occupancy Tax must be used to produce an impactful event that will <br /> directly enhance and promote tourism and the convention and hotel industry. At least 15 <br /> percent of the total grant awarded must be used to purchase advertising to attract overnight <br /> stays to San Marcos hotel; proof of paid marketing is required. INITIALS <br /> The City of San Marcos requires that no more than 50% of the annual budget of the <br /> event budget shall be derived from City funds. In the event that such funds do exceed 50% <br /> of the annual budget of the Nonprofit event at any time during which this Contract is in effect, <br /> the Nonprofit agrees to notify the City immediately so that appropriate monetary adjustments <br /> to this Contract can be made to assure compliance with this section. Under no <br /> circumstances shall any of the funds be used to pay Board of Director salaries or benefits. <br /> SECTION 5. Accounting: The Nonprofit shall maintain complete and accurate <br /> financial records and at the request of the City Manager or his designee, shall make the <br /> records available for inspection and review during normal business hours. <br /> SECTION 6. Unspent Funds: Any funds allocated to the Nonprofit by the City, which <br /> are unencumbered or unexpended at the end of the Contract Period, or other date of the <br /> termination of this Agreement, shall be remitted to the City within 30 days from the date <br /> thereof. <br /> SECTION 7. Hours of Operation: Events dates are Saturday, November 1 and <br /> Sunday, November 2, 2025. Gates open at 9:30am; close at 4:30pm <br /> SECTION 8. Reports: The Nonprofit agrees to provide an event evaluation report as <br /> required by the City relating to its performance and expenditures of funds under the terms of <br /> this Contract. Report is due on or before January 3, 2026, which is 60 days from the day <br /> following the event. The City of San Marcos requires that detailed records be kept related to <br /> production and operation along with attendance data. The evaluation report will be submitted <br /> online through the City's grant management software. <br /> Documents required: <br /> 1. List of activities with schedule, summary of how this event directly enhanced and <br /> promoted tourism and the convention and hotel industry, and attendance data <br /> 2. Proof and samples of paid advertising (as identified in Section 4) <br /> 3. Income statement (profit-and-loss statement)—event's revenue, expenses and <br /> profitability— budget vs actual <br /> 2 <br />