2000-151-RES APPROVING THE CONTRACT WITH THE CHAMBER OF

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8. That money paid to CHAMBER as a result of this contract shall be used only for the purposes enumerated in Section 30-38 of the Code of Ordinances of the City of Paris. As part of those purposes, and pursuant to the provisions of Section 30-38 (4) of the Code of Ordinances of the City of Paris, the CHAMBER shall, during the term of this agreement, including any extensions thereof, fund the City of Paris Municipal Band in an amount of no less than $10,000 per annum. 9. That CHAMBER agrees to make periodic reports to the City Council at least quarterly, listing the expenditures made with revenue from the Municipal Hotel Occupancy Tax Fund. 10. That CHAMBER will, at the same time of presentation of the above-described quarterly reports, provide a report of its activities with regard to the use of the funds herein provided for in order that CITY may evaluate the results of the promotion and advertising campaign so conducted. 11. That CHAMBER may secure and pay for, out of funds herein provided, the services of individuals or corporations to promote tourism and the convention and hotel industry in the City of Paris. 12. That CHAMBER agrees to perform the services provided hereunder in full conformance with the provisions of the Code of Ordinances of the City of Paris, including specifically Article III of Chapter 30 of said Code, and in full conformance with the requirements of Chapter 351 of the Texas Tax Code. That CHAMBER further agrees that any and all meetings conducted by the Visitors and Convention Councilor otherwise to administer and disperse funds as grants for support of the arts shall be conducted in public in conformance with the Texas Open Meetings Law, Chapter 551 et seq. 13. That the term of this contract shall begin October 1, 2000, and shall end September 30, 2001, provided that said contract shall be automatically extended for four (4) additional one-year terms, ending September 30, 2005. Either party to this contract may provide notice to the other party of intention to terminate this contract effective the end of the then current term, provided notice of such intent to terminate is given to the other party thirty (30) days in advance of the automatic renewal of this contract as provided herein. Page 3 of 5