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13-Contract with Chamber of Commerce to maintain the V&CC
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13-Contract with Chamber of Commerce to maintain the V&CC
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CITY CLERK
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Approval by the City Council of the City of Paris of the annual budget for the Visitors and <br />Convention Council creates a fiduciary duty in the CHAMBER with respect to the revenue <br />received by the Municipal Hotel Occupancy Tax. <br />3. That CHAMBER's established Visitors and Convention Council shall meet at least <br />quarterly and, within thirty (30) days after the end of each quarter, shall submit minutes of the <br />Visitors and Convention Council meeting and a financial report to the City Manager of the City of <br />Paris. <br />4. That CHAMBER shall receive and deposit all funds provided herein in a separate <br />banking account in such a manner as to preclude co-mingling of these funds with other funds of <br />said CHAMBER. <br />5. That CHAMBER shall maintain complete and accurate financial records of all <br />expenditures of hotel occupancy tax revenue and on request by the City Manager or City Council <br />of the City of Paris shall make the records available for inspection and/or audit to the CITY or its <br />designated representative. <br />6. The CITY shall make quarterly distributions to the CHAMBER of the Hotel <br />Occupancy Taxes collected pursuant to Article III, Chapter 30 of the City Code of Ordinances and <br />Chapter 351 of the Texas Tax Code for the CHAMBER'S use in operating the Visitors and <br />Convention Council and promoting tourism and the convention and hotel industry in the City of <br />Paris, Lamar County, Texas. <br />That CITY shall retain five percent (5%) of the quarterly collections under Article III of <br />Chapter 30, Code of Ordinances of the City of Paris, for the purposes of funding special purpose <br />grants to enhance tourism as determined by the City Council in accordance with Chapter 351 of the <br />Texas Tax Code. CITY shall pay over the remainder of tax funds collected to CHAMBER within <br />thirty (30) days after the end of the collection period thereof as provided in Section 30-40 of the <br />Code of Ordinances of the City of Paris. <br />7. That money paid to CHAMBER as a result of this Agreement shall be used only for the <br />purposes enumerated in Section 30-38 of the Code of Ordinances of the City of Paris. As part of <br />those purposes, and pursuant to the provisions of Section 30-38 (4) of the Code of Ordinances of <br />the City of Paris, the CHAMBER shall, during the term of this agreement, including any <br />extensions thereof, fund the City of Paris Municipal Band in an amount of no less than $10,000 per <br />annum. <br />8. That CHAMBER agrees to make periodic reports to the City Council at least quarterly, <br />-2- <br />~ . 86 <br />
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