The City Council is authorized, and the Mayor and City Administrator are hereby directed, to enter into contracts in conformity with the provisions of Tex. Tax Code § 351.101 with any qualifying entity for the management and supervision of activities to be funded with tax revenue designated for expenditure under this subchapter for the purposes authorized by Tex. Tax Code § 351.101(a)(3); provided that, the entity shall accept the duties then imposed upon it by law, and shall faithfully:
(A) Submit an annual budget for those expenditures to be approved by the City Council;
(B) Submit quarterly reports to the City Council listing expenditures; and
(C) Maintain the revenue provided from the tax authorized by this subchapter in a separate account established for that purpose.
(Ord. 131201, passed 12-10-2013)