Laserfiche WebLink
<br />Page 5 <br />interest in any company from which any purchase is made with CVB <br />funds. <br />F. The Chamber shall obtain the advice and counsel of the <br />Council as to the hiring and firing of management-level Chamber <br />employees responsible for activities under this Agreement. <br />G. The Council and the Chamber shall each designate two (2) <br />officers authorized to co-sign checks written on all accounts for <br />CVB funds, and the signature of at least one official of each <br />organization shall be required on all checks written on accounts <br />for CVB funds. <br /> <br />4. <br />FUNDING FOR THE ARTS <br />A. The city specifically stipulates and the Chamber hereby <br />agrees that eight percent (8%) of the annual amount of all funds <br />collected by City and paid to Chamber under this Agreement from the <br />hotel occupancy tax will be allocated by the Chamber annually to <br />funding for the arts as set out in section 26-21(d) of the Code of <br />Ordinances of the City. No funds under this Agreement will be <br />awarded to any taxing unit as that phrase is defined in section <br />1.04 of the Texas Tax Code. <br />B. The Council shall adopt and implement a written policy <br />regarding the process for allocation of these funds to specific <br />persons, organizations and events. A copy of the policy shall be <br />provided to the city, and to any person applying for an allocation <br />of arts funding. <br />