The annual proceeds from the municipal gross receipts tax (Bed, Board, and Booze Tax) shall be earmarked, budgeted, appropriated and distributed as follows: 50% of the annual revenue from the tax shall be appropriated for marketing and advertising of the Town of Keystone including but not limited to its commercial businesses, hotel, motels, restaurants, and attractions. The portion so earmarked, budgeted, appropriated, and distributed to marketing and advertising shall be calculated upon a determination of the actual documented receipt of the municipal gross receipts tax (Bed, Board and Booze Tax) for the previous full calendar year. The Town shall retain 50% to be distributed under the guidelines of the Municipal Tax Guide for Municipal Officials (SDCL 10-52A-2). The tax shall be levied for the purpose of land acquisition, architectural fees, construction costs, payments for civic center, auditorium, or athletic facility buildings, including the maintenance, staffing and operations of such facilities and any additional promotion and advertising of the city, its facilities, attractions, and activities.
(Ord. 35.10, passed 9-21-2011; Am. Ord. passed 11-6-2019)