(A) A fund or an account, to be known as the City of Camden Local Hospitality Fee Fund shall be established, and all revenues received from the Hospitality Fee shall be deposited into this account. The principal and any accrued interest from this account shall be expended only as permitted in § 38.26.
(B) In order to apply sound fiscal management and to insure appropriate use of hospitality fee revenue, the city staff has created a special fund designated to account for such revenues and expenditures. As a result, the hospitality fee will be restricted to a special fund and the fund balance shall be carried forward to be used in a future year.
(Ord. 09-016, passed 8-25-09; Am. Res. 10-011, passed 8-24-10)