(A) Revenue from the surcharge shall be held in a separate Arena Surcharge fund to be established and maintained by the Treasurer.
(B) Revenue from the surcharge will be used for any of the following purposes:
(1) Payments of principal, interest, premiums, charges, expenses or other obligations required to be paid to the New Mexico Finance Authority or other lender for the loan to the Non-Profit;
(2) The direct or indirect costs of designing, constructing, renovating, equipping, furnishing, operating, maintaining or otherwise improving the Arena or related parking facilities in the city;
(3) The costs of collecting or administering the surcharge;
(4) Payment of debts or other obligations related to the Arena; or
(5) Establishing a fund for construction, renovation, operation, maintenance and improvement of an Arena.
(Ord. 39-2004)