(A) (1) Ninety-five percent of the proceeds obtained from the collection of taxes pursuant to this program shall be used in accordance with M.S. § 469.190, as the same may be amended from time to time, to fund a local convention/tourism bureau for the purpose of marketing and promoting the city as a tourist/convention center.
(2) The city may retain a maximum of 5% for administrative costs.
(B) The city hereby designates the city’s CVB as the recipient of the tax proceeds collected hereunder.
(Prior Code, § 35.21) (Ord. 571, passed 6-6-1995; Ord. 584, passed 11-6-1996)