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<br /> Page 3 <br /> E. The Chamber shall obtain the advice of the Board as to the hiring and firing of <br /> management-level Chamber employees responsible for activities under this Contract. The <br /> Chamber President has day-to-day management responsibilities for Chamber employees <br /> involved in activities under this Agreement. <br /> G. The Board and the Chamber shall each designate two officers authorized to co- <br /> sign checks written on all accounts for CVB funds. The signature of at least one official of <br /> each organization is required on all checks over $250 in amount written on accounts for CVB <br /> funds. Checks in the amount of $250 or less written on these accounts require only one <br /> official signature. <br /> H. The Board and the Chamber shall give advance public notice of meetings of the <br /> Board, and shall allow members ofthe public to attend these meetings. The Board is subject <br /> to State laws and City ordinances which apply generally to City boards and commissions, <br /> including those requiring disclosure of conflicts of interest and abstention from participation <br /> in decisions involving conflicts of interest. <br /> 4. FUNDING FOR THE ARTS <br /> A. The City specifically stipulates and the Chamber hereby agrees that 15% of the <br /> amount of all funds collected by City and paid to Chamber under this Contract from the hotel <br /> occupancy tax will be allocated by the Chamber annually to funding for the arts as set out in <br /> Section 351. 10 1 (a)(4) ofthe Texas Tax Code. No funds under this Contract will be awarded <br /> to any taxing unit as that phrase is defined in Section 1.04 of the Texas Tax Code. <br /> B. The Board shall develop guidelines regarding the process for allocation of these <br /> funds to specific persons, organizations and events. A copy of the guidelines shall be <br /> provided to the City, and to any person applying for an allocation of arts funding. <br /> 5. TERM; TERMINATION <br /> A. The term of this Contract shall be from October 1, 1997 through September 30, <br /> 1998. It is expressly agreed that either party may cancel this Contract by tendering written <br /> notice to the other. This Contract will terminate 30 days from the date of the written notice, <br />