(A) Money in the food and beverage tax receipts fund shall be used by the city:
(1) For park and recreation purposes limited to Eagle Park, including but not limited to, the purchase of land for park and recreation purposes, the purchase of playground and sporting equipment, and for construction and improvement of Eagle Park facilities; and
(2) For the pledge of money under I.C. 5-1-14-4 for bonds, leases, or other obligations for a purpose described in subdivision (A)(1).
(B) As further limitation to the purposes described in (A)(1), revenues may:
(1) Only be used for Eagle Park;
(2) May not be used for staffing; and
(3) May only be used where other funding sources are not available. Revenue derived from the imposition of the food and beverage tax may be treated by the city as additional revenue for the purpose of fixing its budget for the budget year during which the revenues are to be distributed to the city.
(Ord. 2023-12, passed 8-8-2023)