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<br /> 82 <br /> CONTRACT FOR TOURISM PROMOTIONAL SERVICES <br /> STATE OF TEXAS <br /> COUNTY OF HAYS <br /> The Cìty of San Marcos, Texas, a Texas munìcìpal corporatìon ("Cìty"), actìng <br /> through ìts Cìty Manager, Larry D. Gìlley, and the San Marcos Area Chamber of Commerce <br /> ("Chamber"), actìng through ìts Presìdent, Phìl Neìghbors, enter ìnto thìs Contract under <br /> Chapter 351, Texas Tax Code. <br /> 1. ALLOCATION OF REVENUE <br /> A. The Cìty has enacted a hotel occupancy tax on rooms fumìshed by hotels and <br /> motels wìthìn the Cìty. The Cìty agrees to allocate funds from the revenue ofthìs tax to the <br /> Chamber under Texas Tax Code §351.101(c). The allocatìon of funds to the Chamber ìs <br /> agreed to be 60.714% of the gross amount of all funds collected by the Cìty from the hotel <br /> occupancy tax. <br /> B. The Chamber shall be entìtled to admìnìstratìve expenses ìncurred dìrectly ìn <br /> fulfillìng ìts responsìbìlìtìes under thìs Contract. These admìnìstratìve expenses shall not <br /> exceed 33.3 % of the total allocatìon of hotel occupancy tax funds receìved by the Chamber <br /> from the Cìty, and shall be used only when costs are ìncurred dìrectly ìn the Chamber's <br /> tourìsm promotìon actìvìtìes. <br /> C. The Chamber shall maìntaìn funds provìded by the Cìty under thìs Contract ("CVB <br /> funds") ìn a separate account establìshed for that purpose, and the Chamber may not <br /> commìngle that revenue wìth any other mon~y or maìntaìn ìt ìn any other account. <br /> D. The Chamber shall maìntaìn complete and accurate financìal records of each <br /> expendìture of CVB funds and, at the request of the Cìty Manager or hìs desìgnee, or of any <br /> other person, shall make the records avaìlable for ìnspectìon and revìew durìng normal <br /> busìness hours. <br />