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<br />Page 3 <br />city's approval of this budget creates a fiduciary duty in the <br />Chamber with respect to the revenue provided by the city to the <br />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 />consti tuted to manage 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 formulation of the <br />budget for this Agreement and for any continuation or renewal of <br />this Agreement. The Budget shall contain an itemization of <br />proposed expenditures for office space, personnel, equipment, <br />supplies, vehicles, and other expenses to be incurred by the <br />Chamber in performing this Agreement. <br />C. CVB funds allocated to the Chamber from this Agreement <br />shall be expended only with the advice and counsel of this Council. <br />D. The members of this Council shall be selected as follows: <br />