1737 RES CITY COUNCIL ESTABLISHED ASSESSMENT AND COLLECTION OF HOTEL OCCUPANCY TAX

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5. That Chamber agrees to hold City harmless from any and all claims by third parties for injuries, damages or 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 pro-- vided herein in a separate banking account in such a manner as to preclude co-mingling 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 pro- gram of work. Ihe 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 570. 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 to furnish an audit to City showing the manner and amount of expendi- ture 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