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<br />Page 3 <br />herein. The Chamber acknowledges that the City's approval of this <br />budget creates a fiduciary duty in the Chamber with respect to the <br />revenue provided by the City to the Chamber under this Agreement. <br />C. The Chamber shall submit to the City a monthly report of <br />activities and expenditures resulting from previously allocated CVB <br />funds. <br /> <br />3. <br />CONVENTION AND VISITORS BUREAU COUNCIL <br />A. A Convention and Visitors Bureau Council (the "Council") <br />consisting of eleven (11) members, including a chairperson, is <br />constituted to advise and provide oversight for the Chamber's <br />performance under this Agreement. The chairperson of the Council <br />shall be a non-voting member of the Council except, if the <br />chairperson's vote is necessary to determine the outcome of a vote <br />among the quorum present at a meeting of the Council, the <br />chairperson may vote. <br />B. The Council shall be responsible for advising the Chamber <br />in the formulation of the budget for this Agreement. The Budget <br />shall contain an itemization of proposed expenditures for office <br />space, personnel, equipment, supplies, vehicles, and other expenses <br />to be incurred by the Chamber in performing this Agreement. <br />C. CVB funds allocated to the Chamber from this Ag~eement <br />shall be expended with the advice and counsel of this Council. <br />D. The members of this Council shall be selected as follows: <br />