For the purpose of providing an overall revenue plan for the immediate and long term expenditures that support capital improvement needs of the police or fire departments, expenditures that support capital improvement needs of parks and recreation facilities, expenditures that support capital improvement needs which will improve the safety and efficiency of traffic in the vicinity of local hotels, and expenditures to promote economic development, all funds collected by the levying of the transient guest tax shall be utilized as follows:
(A) Expenditures that support capital improvement needs of the Police or Fire Departments.
(B) Expenditures that support capital improvement needs of parks and recreation facilities.
(C) Expenditures that support capital improvement needs which will improve the safety and efficiency of traffic in the vicinity of local hotels.
(D) Expenditures that promote economic development.
(‘65 Code, § 732.08) (Ord. 07-088, passed 8-21-07)