The proceeds of the tax shall be deposited into a separate account established and maintained by the treasurer within the city's general fund. The funds retained in this account shall be expended in such manner as the city council may from time to time determine necessary and expedient in order to accomplish the goals of promotion of tourism and conventions within the city and attraction of nonresident overnight visitors to the city. For that purpose, the city council may from time to time enter into contracts or agreements with other persons, organizations or agencies to provide services or products intended and designed to accomplish such goals; provided, however, that every such contract or agreement so authorized shall include a prohibition against use of any of the funds generated from the tax imposed by this chapter for advertisement for or otherwise promotion of new competition in the hotel business. (Ord. 3374, 10-16-2023)