There is hereby established a City Food and Beverage Tax Fund into which the City Clerk-Treasurer shall deposit all tax revenues from the city food and beverage tax received monthly from the Treasurer of the state. Further, revenues in the Tax Fund shall be used by the city for specific projects as specified by the Common Council. The Common Council shall at the end of each year approve an amount from the Food and Beverage Fund to be placed in a line item titled “Special Projects” in the Food and Beverage Fund. The Common Council shall also at the end of each year set a policy on the dispensing of those funds for projects and the policy and all projects will be approved by the Common Council for the following year. The Common Council shall also have the authority to approve any projects in the following year if all the funds appropriated at the end year for next year have not been budgeted for specific projects. The Council President shall appoint a committee of Council members every year to review all projects submitted to the Council to be funded out of the Fund. The Committee shall prepare a list of projects at the end of each year and submit that list to the Council for approval.
(Ord. 05-14, passed 9-29-2005; Ord. 08-06, passed - -)
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