(A) For the purpose of operation of the Morehead-Rowan County Recreational, Tourist and Convention Commission and to finance the cost of the acquisition, construction, operation and maintenance on facilities useful in the attraction and promotion of tourist and convention business there is hereby imposed and levied a special tax of three percent (3%) of the gross retail sales of restaurants doing business within the city.
(Ord. 24:98, passed 10-22-98)
(B) The funds collected from this tax shall be maintained by the City Clerk in a special fund and disbursed to the Commission in accordance with its annual budget. All such money shall be used solely for the purpose of promoting recreational, convention and tourist activity, as set out in KRS 91A.390, and shall not be used to provide a subsidy in any form to any motel, hotel or restaurant. Any money not expended by the Commission during any fiscal year will be used to make up a part of the Commission's budget for the next fiscal year.
(C) The Commission must obtain approval from the City Council of the City of Morehead prior to using any revenues from the restaurant tax for the purpose of capital improvements including the purchase of acquisition of land. In obtaining the approval, the Commission must provide the City Council a complete copy of any and all plans, data, research, appraisals, blueprints, and the like regarding the capital improvement. This requirement is in addition to the requirement in § 34.42
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(Ord. 18-99, passed 5-10-99; Am. Ord. 35:2008, passed 10-13-08; Am. Ord. 33:2019, passed 12-9-19)