(A) The City Clerk shall maintain a separate account for the receipts and expenditure of amounts received by the city from the tax imposed hereunder.
(B) At least 50% of the revenues derived from the tax imposed under this subchapter shall be used by the city for the acquisition of sites for, or constructing, improving, enlarging, equipping, repairing, operating or maintaining of recreation, convention, cultural or entertainment facilities, including, but not limited to, memorial buildings, halls and monuments, civic center, convention buildings, auditoriums, coliseums and parking areas or facilities located at those recreation, convention, cultural or entertainment facilities, or for the promotion and encouragement of tourist and convention business in the city.
(C) The receipts from the tax imposed under this subchapter not utilized in as provided in division (B) above shall be credited to and become part of the General Fund of the city and shall be expended thereunder.
(Prior Code, § 3-7-7) (Ord. 558, passed 9-17-2001)