(A) Restaurant taxes collected in the City of Shelbyville shall only be expended within the guidelines of KRS 91A.350. The Tourism Commission shall retain fifty percent (50%) of the tax receipts and the City of Shelbyville shall receive fifty percent (50%) of the tax receipts to be used for tourism-related "quality of life" initiatives in the City of Shelbyville. These initiatives shall be reviewed by the Tourism Board to ensure the activity falls within KRS 91A.350. Potential "quality of life" initiatives that directly impact the tourism industry include, but are not limited to, the following: Celebration of Lights, downtown development, and any activity or project that promotes tourism in Shelbyville.
(B) The Tourism Commission will remit a check each month to the City of Shelbyville for fifty percent (50%) of the restaurant taxes collected in Shelbyville along with a report, and the city will deposit those monies in a separate account entitled "Shelbyville Tourism Development Account". These monies will be used for tourism-related "quality of life" initiatives. The city will then submit a monthly accounting of those monies to the Tourism Commission.
(Ord. 2015-12-03(A), passed 12-3-15)