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<br />other. This Contract will terminate 30 days from the date of the written notice, or on any date <br />specified in tl1e notice after the 30 day period. <br /> <br />B. Any CVB Funds allocated to the Chamber by the City which are unencumbered or <br />unexpended on the date of the termination of this Contract shall be remitted to City within 30 days <br /> <br />from the date of the termination; provided, that if the parties execute a new contract to renew the <br />Chamber's tourism promotion services and activities, the Chamber may use the funds for its usual <br /> <br />and customary expenses until the date of its first allocation of funds under the new contract, when <br />it will remit the remaining funds under this Contract to the City. <br /> <br />6. CONSTRUCTION <br /> <br />This Contract shall be construed in accordance with the laws of the State of Texas, and in <br />particular Chapter 351 of the Texas Tax Code. <br /> <br />7. CVB ASSETS <br /> <br />The Chamber shall keep its equipment, supplies, vehicles and other assets separate from <br />those purchased with CVB Funds and to be used in the performance of this Contract. The latter shall <br />be inventoried and identified as property of the Convention and Visitors Bureau. Inventory lists shall <br /> <br />be provided by the Chamber to the CVB Board and the City. Subsequently acquired assets of this <br />nature shall be similarly separated from Chamber assets, inventoried and identified. <br /> <br />EXECUTED on September 23 <br /> <br />,2003. <br /> <br />THE CITY OF SAN MARCOS, TEXAS <br /> <br />By: ~, ~ <br />Dan O'Leary, City .' anager <br /> <br /> <br />:~~c ~ BUREAU BOARD <br />"í(..~" '\1...;.3, , Chair <br />) <br /> <br />4 <br />