(A) Pursuant to M.S. Chapter 469.190, Subd. 3, as it may be amended from time to time, 95% of the gross proceeds obtained from the collection of lodging taxes shall be used by the city to fund the local Convention or Tourism Bureau for the purpose of marketing and promotion of the city as a tourist or convention center.
(B) The city shall retain up to 5% of the proceeds obtained hereunder to defray the costs and expenses of collection and administration of the tax. The city shall disburse the balance collected to the local Convention and Tourism Bureau by the fifteenth day of the month following the city’s receipt of the funds.
(C) Commencing January 2015, the local Convention or Tourism Bureau shall, for its most recent calendar year, provide an annual year-end report of its operations and its use of the lodging tax proceeds to the City Commission in writing and by oral presentation at a City Commission meeting.
(Ord. 114, passed 3-11-2014)