Ninety-five percent of the proceeds obtained from the collection of taxes pursuant to this chapter shall, in accordance with M.S. § 469.190 as the same may be amended from time to time, be used for the purpose if advancement of the city as a tourist and convention center. The city shall retain 5% of the proceeds obtained hereunder to either defray the costs and expenses of collection and administration of the tax or other use as may be designated from time to time by the Council consistent with the law.
(2003 Code, § 12.16) (Ord. 91, passed 11-24-2000)