Management of Funds. 5.1 The Chamber, on an annual basis, shall provide to the City, its budget for the upcoming year, said budget to be approved by the City Council in writing in advance of the release of any local hotel occupancy tax funds. It is understood and agreed by and between the parties that, upon budget approval by the municipality, a fiduciary duty is created in the Chamber with respect to the expenditure of occupancy tax revenue provided.
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Samples: Publicity and Tourism Agreement, aptx.gov, www.aransaspasstx.gov
