Res 1989-102 - Laserfiche WebLink

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-2- and in proportion to the proposed budget which is marked Appendix "A" and attached to this Agreement for all intents and purposes as though fully set out herein. Chamber further agrees to submit a semi-annual report of activities and expenditures resulting from previously allocated funds and the funds provided for herein. III. It is hereby agreed that a Tourist Development Council consisting of nine voting members shall be formed to serve as an advisory committee to the Chamber and no funds allocated from said tax shall be expended without the advice and consent of said Council. The members of said Council shall be as follows: two (2) members appointed by the San Marcos Chamber of Commerce, two ( 2) members appointed by the Hispanic Chamber of Commerce, two ( 2) members appointed by the City Council, one (1) member appointed by the Hotel/Motel Association, one (1) member appointed by the Heritage Association and one (1) member representative of the Arts community to be selected by the City Council. The City Hanager of City and the Executive Vice-President of Chamber or their designees shall be non-voting, ex-officio members of the Committee. IV. The City Council specifically stipulates and the Chamber hereby agrees that no less than Fifteen Thousand Dollars ($15,000) or one half (1/2) of one per cent (1 %) of the annual gross of all funds collected by City and paid to Chamber under this Agreement from the hotel room occupancy tax, whichever is greater, will be allocated annually to those uses set out in Section 26-21(d) of the ordinance. However, under no circumstances will more than fourteen per cent (14%) of the funds paid to Chamber be spent for the purposes set out in Section 26-21(d), nor will any funds be awarded to any taxing unit as that phrase is defined in Article 7345(b) 1, V.A.T.S. V. The term of this Agreement shall be from October 1, 1989 to and including September 30, 1990. It is expressly agreed that either