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<br /> 14 <br /> CONTRACT FOR TOURISM PROMOTIONAL SERVICES <br /> STATE OF TEXAS <br /> KNOW ALL PERSONS BY THESE PRESENTS: <br /> COUNTY OF HAYS <br /> That the City of San Marcos, Texas, a Texas municipal <br /> corporation acting through authority conferred on its City Manager, <br /> Larry D. Gilley, by Resolution duly adopted on September 24,1990, <br /> hereinafter IfCitylf and the San Marcos Chamber of Commerce, <br /> hereinafter nChamber,1f acting by and through its President, Jim <br /> Gandy, enter into this Agreement pursuant to the terms and <br /> provisions of Chapter 26, Article II, of the Code of Ordinances of <br /> the City of San Marcos, Texas, and Chapter 351, Texas Tax Code. <br /> 1. <br /> ALLOCATION OF REVENUE <br /> That City has enacted by ordinance a hotel occupancy tax to be <br /> levied upon the occupancy of any room furnished by any hotel or <br /> motel within City. Pursuant to Section 26-21 of the Code of <br /> Ordinances of the City, City does hereby agree to allocate funds <br /> from the revenue of this tax to the Chamber. The allocation of <br /> funds to the Chamber is hereby agreed to be five-sevenths (5/7) of <br /> the gross amount of all funds collected and received by the City <br /> from the hotel room occupancy tax. Furthermore, it is expressly <br /> agreed that the Chamber shall be entitled to operating and <br /> administrative expenses incurred in fulfilling its responsibilities <br /> under this Agreement. These operating and administrative expenses <br /> shall not exceed fifteen percent (15%) of the total allocation of <br /> hotel occupancy tax funds received by the Chamber from the City, <br />