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<br />I <br /> <br />I <br /> <br />I <br /> <br />98. <br /> <br />CONTRACT FOR TOURISM PROMOTIONAL SERVICES <br /> <br />The City of San Marcos, Texas, a Texas mumcIpal corporation (the "City") and the San <br />Marcos Hispanic Chamber of Commerce (the "Chamber"), enter into this Contract under Chapter <br />351, Texas Tax Code. <br /> <br />1. ALLOCATION OF REVENUE <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 under <br />Texas Tax Code S351.101(c). The allocation ofthese funds to the Chamber (the "Tourism Funds") is <br />agreed to be 7% of the gross amount of all funds collected by the City from the hotel occupancy tax. <br />B. The Chamber acknowledges and that Tourism Funds provided by the City to the Chamber <br />are restricted under Texas State law and this Contract. The Chamber agrees to use the Tourism Funds <br />only "to promote tourism and the convention and hotel industry," by "advertising and conducting <br />solicitations and promotional programs to attract tourists and convention delegates or registrants to <br />the [City and] its vicinity," and for no other purpose. <br />C. The Chamber shall be entitled to administrative expenses incurred directly in fulfilling its <br />responsibilities under this Contract. These administrative expenses shall not exceed 55% of the <br />Tourism Funds received by the Chamber from the City, and shall be used only when costs are <br />incurred directly in the Chamber's tourism promotion activities. <br />D. The Chamber shall maintain funds provided by the City under this Contract in a separate <br />account established for that purpose, and the Chamber may not commingle that revenue with any <br />other money or maintain it in any other account. <br />E. The Chamber shall maintam complete and accurate financial records of each expenditure <br />of Tourism 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 FUNDS <br />A. The Chamber shall use the Tourism Funds for the promotion of Hispanic tourism and <br />cultural events in San Marcos. The Chamber will ensure that the mission of the Hispanic Chamber <br />under this contract is to serve as a connection to local, national, and international Hispanic markets <br />to promote the City of San Marcos as a prime tourist destination. The Chamber will accomplish this <br /> <br />1 <br />