(A) Ninety-five percent of the proceeds obtained from the collection of taxes pursuant to this subchapter shall be used in accordance with M.S. § 469.190, as it may be amended from time to time. The Wabasha/Kellogg Convention and Visitors Bureau (CVB) shall receive the proceeds for the purpose of marketing and promoting the area as a tourist region and providing fulfillment duties as necessary. The CVB shall present the City Council with an annual operating budget and quarterly reports of expenditures. In an effort to promote the Wabasha area as a tourist region, the CVB shall be appointed by City Council and shall consist of the following representatives:
(1) Two lodgers;
(2) One Chamber of Commerce member;
(3) One City Hall;
(4) One restaurant; and
(5) Two attractions/retail.
(B) Three appointees will serve a term of two years, and four appointees will serve a term of three years. All other and subsequent appointments shall be for a term of three years.
(C) (1) The city shall forward 95% of the collected proceeds to the CVB by the tenth of the month following the collection of the lodging tax.
(2) The city shall retain 5% of the proceeds obtained hereunder to defray the costs and expenses of collection and administration.
(Prior Code, § 819.14) (Ord. passed 2- -2002)