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<br />I <br /> <br />I <br /> <br />I <br /> <br />mission through the following activities: <br />1. Coordination and support of special cultural events that target the Hispanic market. <br /> <br />2. Provide the Hispanic market access to information on all community events. <br /> <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 United States Hispanic Chamber of Commerce, the Texas Association of <br />Mexican American Chambers of Commerce, and the Internet to promote the City of <br />San Marcos to the Hispanic market. <br /> <br />B. The Chamber shall make these expenditures in conformance with and in proportion to the <br />Chamber Tourism and Cultural Events budget for 2004-2005 which is marked Exhibit A attached to <br />this Contract for all intents and purposes as though fully set out herein. The Chamber acknowledges <br />that the City's approval of this budget creates a fiduciary duty in the Chamber with respect to the <br />revenue provided by the City to the Chamber under this Contract. All expenditures of Tourism <br />Funds shall be subject to monitoring by the City's Minority Economic and Tourism Development <br />Board (the "Board") under Section 3.C. below. <br />C. The Chamber shall submit a report to the Mayor and City Council and the Board, with a <br />copy to the City Manager, on or before December 31, 2004, March 31, 2005, June 30, 2005 and <br />September 30, 2005 describing the activities and expenditures related to Tourism Funds during the <br />preceding three-month period. <br /> <br />3. MINORITY ECONOMIC AND TOURISM DEVELOPMENT BOARD; <br />EXPENDITURE RESTRICTIONS <br /> <br />A. The Board will advise and provide oversight for the Chamber's performance under this <br />Contract. <br /> <br />B. The Board shall be responsible for developing and making a recommendation to the City <br />Council on approval of the budget for this Contract and for any extension or renewal of this Contract. <br />The budget shall contain an itemization of proposed expenditures for office space, personnel, <br />equipment, supplies, vehicles, and other expenses to be incurred by the Chamber in performing this <br />Contract. <br /> <br />C. The Board shall monitor expenditures of Tourism Funds provided to the Chamber by the <br />City under this Contract for conformity to the budget. The Chamber shall provide to the Board an <br /> <br />2 <br />