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<br /> 89 <br /> CONTRACT FOR TOURISM PROMOTIONAL SERVICES <br /> STATE OF TEXAS <br /> COUNTY OF HAYS <br /> The City of San Marcos, Texas, a Texas municipal corporation ("City"), acting <br /> through its City Manager, Larry D. Gilley, and the San Marcos Area Chamber of Commerce <br /> ("Chamber"), acting through its President, Phil Neighbors, enter into this Contract under <br /> Chapter 351, Texas Tax Code. <br /> 1. ALLOCATION OF REVENUE <br /> A. The City has enacted a hotel occupancy tax on rooms furnished by hotels and <br /> motels within the City. The City agrees to allocate funds trom the revenue ofthis tax to the <br /> Chamber under Texas Tax Code §351.1O1(c). The allocation of funds to the Chamber is <br /> agreed to be 5/7 of the gross amount of all funds collected by the City trom the hotel <br /> occupancy tax <br /> B. The Chamber shall be entitled to administrative expenses incurred directly in <br /> fulfilling its responsibilities under this Contract. These administrative expenses shall not <br /> exceed 33.3% of the total allocation of hotel occupancy tax funds received by the Chamber <br /> from the City, and shall be used only when costs are incurred directly in the Chamber's <br /> tourism promotion activities. <br /> C. The Chamber shall maintain funds provided by the City under this Contract ("CVB <br /> funds") in a separate account established for that purpose, and the Chamber may not <br /> commingle that revenue with any other money or maintain it in any other account. <br /> D. The Chamber shall maintain complete and accurate financial records of each <br /> expenditure of CVB funds ànd, at the request of the City Manager or his designee, or of any <br /> other person, shall make the records available for inspection and review during normal <br /> business hours. <br /> 2. USE OF FUNDS <br />