Five percent of all taxes and revenues collected pursuant to this article shall be used by the city to defray administrative costs. Of the amounts remaining, two-thirds of the taxes collected pursuant to the provisions of this article shall be set aside and used for the purpose of encouraging, promoting, fostering and administrating the convention and tourism development of the city. One-third of the taxes collected pursuant to the provisions of this article shall be set aside and used exclusively for the purpose of the development, maintenance and operation of the public parks now belonging to, or hereafter acquired by, the city.
(Ord. 3034, passed 6-16-98)