(A) Except as provided in division (B) of this section, all proceeds resulting from the imposition of the tax under this subchapter, including interest and penalties, shall be paid into the treasury of the city and be credited to and deposited in the special hotel tax fund of the city.
(B) The city shall expend 90% of the proceeds of the tax imposed hereunder on tourism promotion as defined in division (D) of this section. Said expenditures may be made directly by the city or by an independent contractor or other organization subject to written agreement approved, from time to time, by City Council resolution.
(C) Ten percent of the proceeds resulting from the imposition of the tax shall be retained by the city and expenditure for the following purposes:
(1) Administrative expenses resulting from the collection of the tax or the expenditure of the tax, and/or
(2) Tourism promotion expenses as described in division (D) of this section.
(D) The amounts collected by the city pursuant to this chapter shall be expended by the municipality solely to promote tourism and conventions within that municipality or otherwise to attract nonresident overnight visitors to the municipality. No funds received pursuant to this chapter shall be used to advertise for or otherwise promote new competition in the hotel business.
(Ord. O-07-22, passed 8-13-07)