(A) Rate. Pursuant to R.C. § 5739.02, there is hereby levied an excise tax on all transactions by which lodging by a hotel or motel is furnished to transient guests in the village, in the sum of 3% of the total charges for such lodging transaction, and that the tax to be collected by such hotels or motels to be paid to the village shall be paid quarterly by the hotels or motels to the village on March 31, June 30, September 30, and December 31 of each and every year beginning with the year 2004.
(B) Purpose. Fifty percent of the revenue from the tax levied pursuant to this section and the state statute shall be deposited into a separate fund kept by the Village Auditor, which shall be spent solely to make contributions to a convention and/or visitors bureau operating within the county, and the balance of the revenue generated by the tax shall be deposited in the Village General Fund, to be used for the promotion of industrial growth within the village.
(Ord. 232, passed 7-6-2004)