1993 RES CITY COUNCIL IN RES NO 1839 AUTHORIZED CONTRACTING WITH CHAMBER OF COMMERCE

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liability that might occur as a result of actions by Chamber in connection with this contract. 6. That Chamber shall receive and deposit all funds provided herein in a separate banking account in such a manner as to preclude commingling of these funds with other funds of said Chamber. 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 the City under Article III of Chapter 28; Code of Ordinances of City of Paris, pursuant to the approved program of work. The City shall retain 5% of quarterly collections under Article III of Chapter 28, Code of Ordinances of City of Paris, to cover the costs of collection of said tax, provided, however, that the amount for collection of said tax may be changed by the City Council upon a showing that the actual cost of said collection is more than 5%. City shall pay over tax funds collected to Chamber within ten (10) days after the collection thereof as provided in Section 28-14 of the Code of Ordinances of the City of Paris. 8. That money paid to Chamber as a result of this contract shall be used only for the purposes enumerated in Section 28-12 of the Code of Ordinances of the City of Paris. Chamber agrees ta furnish an audit to City showing the manner and amount of expenditure of these funds within a reasonable period of time after the close of the Chamber's fiscal year. 9. That Chamber will at the same time of presentation of the above described audit 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.