(A) (1) The County Food and Beverage Tax is hereby imposed on Food and Beverage Transactions at the rate of 1% of the gross retail income of the Food and Beverage Transactions occurring anywhere in the county.
(2) The County Food and Beverage Tax shall apply to Food and Beverage Transactions occurring after the last day of the month succeeding the month in which this section is adopted.
(B) Pursuant to I.C. 6-9-35-11, the County Food and Beverage Tax shall be imposed, paid, and collected in the same manner that the state gross retail tax is imposed, paid, and collected under I.C. 6-2.5.
(C) (1) There is hereby established a County Food and Beverage Tax Fund into which the County Treasurer shall deposit all Tax Revenues from the County Food and Beverage Tax received monthly from the Treasurer of State.
(2) The County Council acknowledges that, pursuant to I.C. 6-9-35-12(a), so long as there are any existing project obligations, 50% of the County Tax Revenues received by the state from the County Food and Beverage Tax will be paid monthly by the Treasurer of State to the Capital Improvement Board or its designee upon warrants issued by the Auditor of State.
(3) The County Council further acknowledges that, in any state fiscal year, if the total amount of Tax Revenues from the imposition of the Food and Beverage Tax pursuant to I.C. 6-9-35 by all the counties and paid to the Treasurer of the Capital Improvement Board or its designee equals $5,000,000, the remainder of the County Tax Revenues shall be paid by the Treasurer of State to the County Auditor, upon warrants issued by the Auditor of State.
(4) It is the county’s intent that County Tax Revenues paid to the Treasurer of the Capital Improvement Board shall be used solely to pay or secure the payment of project obligations that are lease rentals.
(5) County Tax Revenues in the County Food and Beverage Tax Fund shall be used by the county for any purpose permitted under I.C. 6-9-35-14, including the pledge of County Tax Revenues to the payment of bonds, leases, or other obligations in accordance with I.C. 5-1-14-4.
(6) The County Auditor, as the Clerk of the Council, shall upon passage, immediately send a certified copy of Ord. 2005-6B to the Commissioner of the Department of State Revenue.
(7) The County Food and Beverage Tax terminates on January 1 of the year immediately following the year in which the last payment required of the Capital Improvement Board for project obligations is made, for any project obligations that existed on July 1, 2006.
(Ord. 2005-6B, passed 6-8-05)