(A) This tax is levied exclusively for the purpose of financing a committee, administered as herein before detailed, for the purpose of the tourism and convention development of the city, and the term of this tax shall be directly and totally dependent upon the existence of this committee. If, for any reason, the agreements from which the committee derives its existence are nullified or revoked, or for any reason are held to be no longer the governing principles of the committee, the collection and/or disbursement of the revenues from this tax shall cease immediately, and this article shall be caused to become void by its own terms.
(B) By provision of this article, the revenues of the tax created by this act are for the sole and singular source of funding for the committee created herein. If, for any reason or act of any party, the funding of the committee shall be either partially or totally reduced whether it is a temporary or permanent state, all parties charged with responsibilities relating to the administration of the committee shall be and are hereby discharged from any and all responsibilities, whether they be creations of ordinance or contract.
(Prior Code, § 20-171) (Ord. 2000-835, passed 8-21-2000)