§ 34-59. Expenditure of tax revenues.

(a)

The city shall expend (in the fiscal year during which the tax is first collected at a rate in excess of three percent and at all times thereafter) an amount equal to the amount by which the total taxes collected under O.C.G.A. § 48-13-51 exceed the taxes which would be collected at a rate of three percent for the purpose of promoting tourism, conventions and trade shows and for the purposes set forth in O.C.G.A. § 48-13-51(a)(3).

(b)

The rest of the revenues collected pursuant to said excise tax shall be budgeted and applied for the promotion of the city, and in accordance with applicable provisions of state law.

(c)

Amounts so expended under subsection (a) of this section shall be expended only through a contract or contracts with the state, a department of state government, a state authority, or a private sector nonprofit organization, or through a contract or contracts with some combinations of such entities, except that amount expended for the purposes listed in O.C.G.A. § 48-13-51(a)(3)(C) and (D) may be so expended in any otherwise lawful manner.

(Code 1977, § 34-55; Ord. No. 89-06, § 5, 5-2-1989)