(a) Calculation of Disposition of Funds:
(1) The Finance Director shall prepare a yearly estimate, used in the preparation of the annual budget, of three percent (3%) convention tax funds to be received by the City pursuant to Oxford Codified Ordinance Section 183.02.
(2) The City shall distribute one hundred percent (100%) of the convention tax funds received in a calendar year to Enjoy Oxford.
(b) Council may authorize the City Manager to enter into a written contract, on behalf of the City, with one or more convention and visitors' bureaus operating within Butler County, Ohio, that provides for the City's contribution of funds to such bureaus subject to the conditions contained within the contract.
(c) All interest earned on the convention tax funds collected pursuant to Section 183.02 shall be retained by the City and deposited in the general fund.
(d) Notwithstanding any other provision of this section, the City shall fully comply with the minimum State of Ohio convention tax requirements.
(Ord. 3626. Passed 8-3-21.)