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<br />3. Maintain a full-time staff to assist in coordination of activities with the San Marcos <br />Convention and Visitors Bureau. <br /> <br />4. Utilize the Texas Business Center and the Internet to promote the City of San Marcos <br />to the Hispanic market. <br /> <br />B. The Chamber shall make these expenditures in conformance with and in proportion to <br />the Chamber Tourism and Cultural Events budget for 2001-2002 which is marked Exhibit A (under <br />the column "Proposed TC&E 2001-2002") and attached to this Contract for all intents and purposes <br />as though fully set out herein. The Chamber acknowledges that the City's approval of this budget <br />creates a fiduciary duty in the Chamber with respect to the revenue provided by the City to the <br />Chamber under this Contract. <br /> <br />C. The Chamber shall submit a report at least quarterly to the Mayor and City Council, with <br />a copy to the City Manager, of activities and expenditures resulting from previously allocated CVB <br />funds. <br /> <br />3. EXPENDITURE RESTRICTIONS; BOARD MEETINGS <br />A. Purchases made with Tourism Funds which exceed $1000 in amount shall be made from <br />the low responsible bidder, and at least three bids shall be obtained for each such purchase. <br />Purchases made with Tourism Funds shall not be restricted to Chamber members. Members of the <br />Chamber's Board of Directors (the "Board") shall not have an ownership interest in any company <br />from which a purchase or purchases of $7,500 or more annually are made with Tourism Funds. <br />Chamber Board members shall disclose any private interests they have in matters coming before the <br />Chamber Board for decision when action on the matter may have a special economic effect on those <br />interests, and they shall abstain from the discussions and votes on those matters. <br />B. The Board shall include in its composition one member of the San Marcos City Council <br />appointed by the City Council. This member of the Board will not be the same City Council Member <br />as the one appointed under the City's Economic Development Agreement with the Chamber. The <br />Chamber shall give advance public notice of meetings of the Board, and shall allow members of the <br />public to attend these meetings. The Chamber shall provide a copy of the minutes of each Board <br />meeting to the Mayor and City Council, with a copy to the City Manager. <br />4. TERM; TERMINATION <br /> <br />C:\TEMP\Hisp Chamber CVB-l.doc <br /> <br />2 <br />