The net proceeds of the tax collected and remitted to the taxing authority pursuant to this article shall be deposited into the general revenue fund of the city and, after appropriation thereof, shall be expended only as provided in divisions (A) and (B).
(A) (1) At least 50% of the net revenue receivable during the fiscal year by the city pursuant to this article shall be expended in the following manner for the promotion of conventions and tourism.
(2) If a convention and visitor’s bureau is located within the city, county or region, the governing body shall appropriate the percentage required by this division to that bureau. If a convention and visitor’s bureau is not located within such. municipality, county or region, then the percentage appropriation required by this division shall be appropriated as follows:
(a) Any hotel located within such municipality, county or region may apply to such municipality for an appropriation to such hotel of a portion of the tax authorized by this article and collected by such hotel and remitted to such municipality for uses directly related to the promotion of tourism and travel, including advertising, salaries, travel, office expenses, publications and similar expenses. The portion of such tax allocable to such hotel shall not exceed 75% of that portion of such tax collected and remitted by such hotel which is required to be expended pursuant to this division: Provided, that prior to appropriating any moneys to such hotel, such municipality shall require the submission of, and give approval to a budget setting forth the proposed uses of such moneys.
(b) If there is more than one convention and visitor’s bureau located within a municipality, county or region, the City Council may allocate the tax authorized by this article to one or more of such bureaus in such portion as the City Council in its sole discretion determines.
(c) The balance of net revenue required to be expended by this division shall be appropriate to the regional travel council serving the area in which the municipality is located.
(B) After making the appropriation required by division (A) of this section, the remaining portion of the net revenues receivable during the fiscal year by such municipality, pursuant to this article, may be expended for one or more of the purposes set forth in this division, but for no other purpose. The purposes for which expenditures may be made pursuant to this division are as follows:
(1) The planning, construction, reconstruction, establishment, acquisition, improvement renovation, extension, enlargement, equipment, maintenance, repair and operation of publicly owned convention facilities, including, but not limited to, arenas, auditoriums, civic centers and convention centers;
(2) The payment of principal or interest or both on revenue bonds issued to finance such convention facilities;
(3) The promotion of conventions;
(4) The construction, operation or maintenance of public parks, tourist information centers and recreation facilities (including land acquisition);
(5) The promotion of the arts;
(6) Historic sites;
(7) Beautification projects.
(Ord. 1334, passed 1-7-02)