(A) Application of proceeds. The net proceeds of the tax collected and remitted to the taxing authority pursuant to this subchapter shall be deposited into the General Revenue Fund of the city, and after appropriation thereof shall be expended only as provided in divisions (B) and (C) below.
(B) Required expenditures. At least 50% of the net revenue receivable during the fiscal year by the city, pursuant to this subchapter shall be transmitted to the county’s Convention and Visitors Bureau.
(C) Permissible expenditures. After making the appropriation required by division (B) above, the remaining portion of the net revenues receivable during the fiscal year by the city, pursuant to this subchapter, may be expended for one or more of the purposes set forth in this division (C), but for no other purpose. The purposes for which expenditures may be made pursuant to this division (C) 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 or maintenance of public parks, tourist information centers and recreation facilities (including land acquisition); or
(5) The promotion of the arts.
(D) Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
CONVENTION AND VISITORS BUREAU and VISITORS AND CONVENTION BUREAU. Are interchangeable, and mean the city’s Convention and Visitors Bureau.
CONVENTION CENTER. A convention facility owned by the city or other public entity or instrumentality and shall include all facilities, including armories, commercial, office, community service and parking facilities, and publicly owned facilities constructed or used for the accommodation and entertainment of tourist and visitors, constructed in conjunction with the convention center and forming reasonable appurtenances thereto.
FISCAL YEAR. The year beginning July 1, and ending June 30, of the next calendar year.
NET PROCEEDS. The gross amount of tax collection less the amount of tax lawfully refunded.
PROMOTION OF THE ARTS. Activity to promote public appreciation and interest in one or more of the arts. It includes the promotion of music for all types, the dramatic arts, dancing, painting and the creative arts through shows, exhibits, festivals, concerts, musicals and plays.
RECREATIONAL FACILITIES. Includes any public park, parkway, playground, public recreation center, athletic field, sports arena, stadium, skating rink or arena, golf course, tennis courts and other park and recreation facilities, whether of a like or different nature, that are owned by the city.
(Ord. 209, passed 10-15-1985; Ord. passed 1-8-2001)