(A) On a quarterly basis, the taxes collected shall be remitted in the net amount of the occupancy tax to the City Tourism Development Authority. The Authority shall make use of at least two-thirds of the funds remitted to it to promote travel and tourism in the city and shall use the remainder for tourism-related expenditures.
(B) For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
NET PROCEEDS. Gross proceeds less the cost to the city of administering and collecting the tax, as determined by the Finance Officer, not to exceed 3% of the first $500,000 of gross proceeds collected each year and 1% of the remaining gross receipts collected each year.
PROMOTE TRAVEL AND TOURISM. To advertise or market an area or activity, publish and distribute pamphlets and other materials, conduct market research or engage in similar promotional activities that attract tourists or business travelers to the area. The term includes administrative expenses incurred in engaging in the listed activities.
TOURISM-RELATED EXPENDITURES. Expenditures that, in the judgment of the Tourism Development Authority, are designed to increase the use of lodging facilities, meeting facilities or convention facilities in a the city or to attract tourists or business travelers to the city. The term includes TOURISM-RELATED CAPITAL EXPENDITURES.
(Ord. 02-01, passed 1-29-2002)