There is hereby created in and for the city an Occupation Tax Oversight Committee (“the Committee”). The Committee will be responsible for reviewing the revenues and expenditures of the city’s occupation tax imposed upon persons and entities engaging in the business of providing food services, drinking places, or restaurants (hereinafter referred to as “Food and Beverage Tax”). The Committee shall advise the public and city officials with regard to the city’s Food and Beverage Tax, and shall confirm that the Food and Beverage Tax revenues are accounted for in the designated special revenue funds and are being expended on eligible projects as provided by city ordinances. The Committee shall be composed of five (5) members who shall be registered voters of the City of Grand Island. Three (3) members shall constitute a quorum. The members shall be appointed by the Mayor subject to the approval of the City Council.