The proceeds from the tax hereby imposed shall be placed in a separate account by the Lake County Treasurer. Sixty percent, 80%, and 100% of the proceeds collected from the tax hereby imposed shall be allocated by the county to the Lake County Convention and Visitor’s Bureau for the county fiscal years 2002, 2003, and 2004 and subsequent fiscal years, respectively, and 40%, 20%, and 0% of the proceeds shall be allocated by the county to the Lake County Partnership for Economic Development, Inc. for the corresponding years, respectively. This allocation process shall be in accordance with the county budget policies and the Financial and Administrative Policies and Procedures Manual. All expenditures of the proceeds shall be made solely to promote tourism; conventions; expositions; theatrical, sports, and cultural activities within the county; or otherwise to attract non-resident overnight visitors to the county.
(1977 Code, § 1:9-2) (Ord. passed 11-13-2001)