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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 />"A" <br /> <br />and <br /> <br />attacheò <br /> <br />to <br /> <br />this <br /> <br />Agreement for all intents anò 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 consisting <br /> <br />of nine voting <br /> <br />members <br /> <br />shall be <br /> <br />formed to <br /> <br />serve <br /> <br />as <br /> <br />an <br /> <br />advisory <br /> <br />committee <br /> <br />to <br /> <br />the <br /> <br />Chamber <br /> <br />and <br /> <br />no funds <br /> <br />allocated <br /> <br />from <br /> <br />said <br /> <br />tax <br /> <br />shall <br /> <br />be expended without the advice <br /> <br />and consent <br /> <br />of <br /> <br />said <br /> <br />Council. <br /> <br />The <br /> <br />members <br /> <br />of <br /> <br />said <br /> <br />Council shall be as follows: <br /> <br />two (2) <br /> <br />members <br /> <br />appointed by <br /> <br />the San Marcos Chamber <br /> <br />appointed <br /> <br />by <br /> <br />the <br /> <br />City <br /> <br />Council, <br /> <br /> of Commerce, two ( 2 ) <br />of Commerce, two ( 2 ) <br />one (1) member appointed <br /> <br />members <br /> <br />appointed by the Hispanic Chamber <br /> <br />members <br /> <br />by the <br /> <br />Hotel/Motel Association, <br /> <br />one <br /> <br />(1) <br /> <br />member <br /> <br />appointeò by <br /> <br />the <br /> <br />Heritage <br /> <br />Association <br /> <br />and one (1) member representative of the Arts community to <br /> <br />be selected by the City Council. <br /> <br />The <br /> <br />City <br /> <br />Manager of <br /> <br />City <br /> <br />and <br /> <br />the <br /> <br />Executive <br /> <br />Vice- Pres iden t <br /> <br />of <br /> <br />Chamber <br /> <br />or <br /> <br />their <br /> <br />designees <br /> <br />shall <br /> <br />be <br /> <br />non-voting, ex-officio members of the Committee. <br /> <br />IV. <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 reeme n t <br /> <br />from <br /> <br />the <br /> <br />hotel <br /> <br />room <br /> <br />ocçupancy 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 />au tin <br /> <br />Sec tion <br /> <br />26-21(d) of <br /> <br />the <br /> <br />ordinance. <br /> <br />However, under no circumstances will more than twenty-five <br /> <br />per <br /> <br />cent <br /> <br />(25%) <br /> <br />0 f the <br /> <br />funds <br /> <br />paid <br /> <br />to <br /> <br />Chamber <br /> <br />be <br /> <br />spent <br /> <br />for <br /> <br />the purposes set out in Section 26-21(d), nor will any funds be awarded <br /> <br />to <br /> <br />any <br /> <br />taxing <br /> <br />unit as that phrase is defined in Article 7345(b) <br /> <br />1, <br /> <br />V.A.T.S. <br /> <br />v. <br /> <br />The <br /> <br />term <br /> <br />of <br /> <br />this <br /> <br />Agreement <br /> <br />shall <br /> <br />be <br /> <br />from October 1,1987 to <br /> <br />and including September 30, 1988. <br /> <br />It is expressly agreed <br /> <br />that <br /> <br />either <br />