2007-039 RES-Approving Addendum No. 1 to the contract between the City & Chamber of Commerce regarding maintaining a Visitors & Convention Council / Managing the Municipal Hotel Occupancy Tax Fund

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ADDENDUM NUMBER ONE TO CONTRACT DATED DECEMBER 12, 2005, BETWEEN THE CHAMBER OF COMMERCE OF LAMAR COUNTY, INC. AND THE CITY OF PARIS, PARIS, TEXAS STATE OF TEXAS COUNTY OF LAMAR WHEREAS, the City of Paris, Texas (the "City") and the Chamber of Commerce of Lamar County, Inc. (the "Chamber") entered into a contract dated December 12, 2005 for the purpose of maintaining a Visitors and Convention Council to manage the City's Hotel Occupancy Tax Fund to promote tourism, convention and hotel industry business in the City of Paris (hereinafter the "Agreement"); and, WHEREAS, paragraph seven of the Agreement provides that the City shall retain five percent (5%) of the quarterly hotel occupancy tax collections for the purpose of funding special purpose grants to enhance tourism in the City of Paris; and, WHEREAS, Section 351.101 of the Texas Tax Code and Section 30-38 of the City Code of Ordinances provide that revenue from the hotel motel occupancy tax may be spent on other things including historical restoration and preservation projects located in the City that would be frequented by tourists or visitors to the City; WHEREAS, the Chamber and the City mutually desire to amend paragraph seven (7) of the Agreement to allow the City to spend its five-percent (5%) share of the quarterly hotel occupancy tax revenue to promote tourism and the and the convention and hotel industry in any of the ways enumerated under section 350.101 of the Texas Tax Code, as amended. NOW, THEREFORE, in consideration of the mutual promises, covenants, and agreements set out herein, the City and the Chamber hereby agree to amend paragraph 7 of the Agreement to read as follows: "7. That, in order to provide funds necessary to carry out the promotion and advertising of the City of Paris, CHAMBER shall be paid from money collected by CITY under Article III of Chapter 30, Code of Ordinances of the City of Paris, pursuant to the approved program of work. That CITY shall retain five percent (5%) of the quarterly collections under Article III of Chapter 30, Code of Ordinances of the City of Paris, for the purpose EXHIBIT.