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<br />Page 2 <br /> <br />Hispanic Chamber under the contract is to serve as a connection to local, national, and <br />international Hispanic markets to promote the City of San Marcos as a prime tourist <br />destination. The Chamber will accomplish this mission through the following activities: <br />1. Coordination and support of special cultural events that target the Hispanic <br />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 <br />Marcos Convention and Visitors Bureau. <br /> <br />4. Utilize the Texas Business Center and the Internet to promote the City of San <br />Marcos to the Hispanic market. <br /> <br />B. The Chamber shall make these expenditures in conformance with and in <br />proportion to the Chamber Tourism and Cultural Events budget for 1999-2000 which is <br />marked Exhibit "A" and attached to this Contract for all intents and purposes as though fully <br />set out herein. The Chamber acknowledges that the City's approval of this budget creates <br />a fiduciary duty in the Chamber with respect to the revenue provided by the City to the <br />Chamber under this Contract. <br />C. The Chamber shall submit to the City a report at least quarterly of activities and <br />expenditures resulting from previously allocated CVB funds. <br />3. EXPENDITURE RESTRICTIONS; BOARD MEETINGS <br />A. Purchases made with Tourism Funds which exceed $1000 in amount shall be <br />made from the low responsible bidder, and at least three bids shall be obtained for each such <br />purchase. Purchases made with Tourism Funds shall not be restricted to Chamber members. <br />Members of the Chamber's Board of Directors (the "Board") shall not have an ownership <br />interest in any company from which a purchase or purchases of$7,500 or more annually are <br />made with Tourism Funds. Chamber Board members shall disclose any private interests <br />they have in matters coming before the Chamber Board for decision when action on the <br />matter may have a special economic effect on those interests, and they shall abstain from the <br />