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CONTRACT FOR TOURISM PROMOTIONAL SERVICES <br />This contract is effective October 1, 2008, and is between the City of San Marcos, Texas, a <br />Texas municipal corporation (the "City"), and the San Marcos Area Chamber of Commerce (the <br />"Chamber"). This Contract is entered into under Chapter 351, Texas Tax Code. <br />1. ALLOCATION OF FUNDS <br />A. The City has enacted a hotel occupancy tax on rooms furnished by hotels and motels <br />within the City. The City agrees to allocate funds from the revenue of this tax to the Chamber, <br />operating the San Marcos Convention and Visitor Bureau program, under Texas Tax Code <br />§351.101(c). The City will make quarterly payments of this allocation to the Chamber, with each <br />payment being made by the 15 1h of the month following each deadline for the City's receipt of <br />quarterly hotel tax payments. The City has budgeted $549,117.00 in its 2008-09 fiscal year to be <br />paid to the Chamber from hotel occupancy tax revenues, and the City and the Chamber agree that <br />the total of all payments made by the City to the Chamber under this Contract will not exceed this <br />amount. <br />B. The Chamber shall be entitled to administrative expenses incurred directly in fulfilling its <br />responsibilities under this Contract. These administrative expenses shall be used only when costs are <br />incurred directly in the Chamber's tourism promotion activities. The Chamber shall track all <br />administrative expenses related to this contract, including any allocation of personnel resources, and <br />report such expenses to the City as part of the reports required in Section 2.C, below. <br />D. The Chamber shall maintain the CVB Funds provided by the City under this Contract (the <br />"CVB Funds") in a separate account, and the Chamber shall not commingle the funds in that account <br />with any other money, or maintain them in any other account. <br />E. The Chamber shall maintain complete and accurate financial records of each expenditure <br />of the CVB Funds and, at the request of the City Manager or his designee, or of any other person, <br />shall make the records available for inspection and review during normal business hours. <br />2. USE OF CVB FUNDS <br />A. The Chamber shall expend CVB Funds for general promotional and tourist advertising for <br />1