(A) The City Council may by contract delegate to a person, including another governmental entity or a private organization, the management or supervision of programs and activities funded with revenue from the tax imposed by this chapter. The City Council may not delegate to any person the management or supervision of the city's convention and visitors programs and activities funded with revenue from the tax imposed by this chapter other than by contract as provided by this section.
(B) The City Council in writing shall approve in advance the annual budget of the person to whom it delegates the management or supervision of programs and activities funded with revenue from the tax imposed by this chapter. The approval by the City Council of the annual budget of the person creates a fiduciary duty in the person with respect to the revenue provided from the tax imposed by this chapter.
(C) The person to whom the City Council delegates the management or supervision of programs and activities funded with revenue from the tax imposed by this chapter must maintain such revenue in a separate account established for that purpose and may not commingle that revenue with any other money.
(D) A person with whom the City Council contracts under this section shall make reports to the City Council upon request, and no less often than quarterly, listing the expenditures made by the person with the revenue provided from the tax imposed by this chapter. In addition, the person shall maintain complete and accurate financial records of each expenditure of hotel occupancy tax revenue made by the person and, on request of the City Council or other person, shall make the records available for inspection and review to the City Council or other person.
(Ord. 98-46, passed 11-24-98)