3.16.050 Use of funds limited.

All taxes levied and collected under the provisions of this chapter shall be credited to a special fund in the treasury of the county or city imposing such tax. Such taxes shall be levied only for the purpose of paying all or any part of the cost of tourism promotion, acquisition of tourism-related facilities, or operation of tourism-related facilities or to pay or secure the payment of all or any portion of general obligation bonds or revenue bonds issued for such purpose or purposes under this chapter. (Sec. 5 of Ord. 1977-04-39; amended by Sec. 1 of Res. 1982-10-19; amended by Sec. 3 of Ord. 1999-01-22)