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Section 4: <br /> (a) The commissioners hereunder appointed in addition to their other powers <br /> enumerated by state law, shall have the exclusive right and power to make <br /> purchases of all supplies necessary for the management and operation of the <br /> commission. <br /> (b) The commissioners shall have authority to employ the necessary personnel to <br /> assist in the administration and operation of the advertising and tourist <br /> promotion fund and shall have the authority to fix the salary or salaries for <br /> such personnel. Any employee who shall handle funds for the commission <br /> shall be required to furnish the city a surety bond in an amount to be <br /> determined by the commission to insure the city against misappropriation of <br /> funds. <br /> (c) The commissioners shall make quarterly reports to the mayor and city council <br /> beginning three (3) months after their oath of office, reporting in full on the <br /> operations of the commission, including and accounting of receipts and <br /> disbursements and shall upon request of the city council furnish such other <br /> reports and data as may be required. The city shall select a recognized <br /> auditing firm to submit an annual audit of the operations of the commission to <br /> the mayor and city council. <br /> Section 5: <br /> (a) Hotel/Motel accommodations; Meeting or party-room facilities: A tax of <br /> three percent (3%) is hereby levied upon activities defined in Arkansas Code <br /> Annotated §26-75-602(c)(1), as may be amended from time to time, on the <br /> gross receipts or gross proceeds received from the renting, leasing, or <br /> otherwise furnishing hotel, motel, house, cabin, bed and breakfast, <br /> campground, condominium, or other similar rental accommodations for <br /> sleeping, meeting, or party-room facilities for profit to the to the extent <br /> taxable under state law in the city of Batesville. Arkansas, but such <br /> accommodations shall not include the rental or lease of such accommodations <br /> for periods of thirty (30) days or more; <br /> (b) (1) Collection by commission. The three percent (3%) tax described in <br /> this section hereof shall be paid by the persons, firms, and corporations liable <br /> therefore and shall be collected by the advertising and promotion commission <br /> of the city (hereinafter the "commission") or by a designated agent of the <br /> commission in the same manner and at the same time as the tax levied by the <br /> Arkansas Gross Receipts Act, A.C.A §26-52-101 et seq. The effective date <br /> for the collection of said tax shall be March 1, 2017. <br />