§ 24-46. Use of funds.

Latest version.

It is the intent of the town council that any tax revenue collected under the terms of this chapter be used to further tourism within and draw visitors to the town. To that end:
(1)

Funds collected under this article shall be held in an interest bearing account and shall be considered to be separate from the general fund.

(2)

The Economic Development and Revitalization Committee (EDARC) shall be responsible for annually drafting a plan for use of such funds and may cooperate with local tourism authorities and Gate City Main Street to further tourism within the town, subject to approval by the council. Such plan shall be presented along with and included in the town's annual budget.

(3)

Funds collected under this article are dedicated to this use and should not be considered to be a part of, and shall have no effect on, the budgeted funds allocated to the EDARC.

(Comp. Ords., § 27.6; Ord. of 10-14-2009)

(Comp. Ords., § 27.6; Ord. of 10-14-2009)

                    
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