HomeMy WebLinkAboutResolution - 2004-R0374 - Resolution Delineating Tax Disbursements Under Hotel Occupancy Tax - 08_16_2004Resolution No. 2004-RO374
August 16, 2004
Item No. 44
RESOLUTION
WHEREAS, the City Council of the City of Lubbock, by Ordinance No. 2002-
00049, amended Subsection 26-22(b)(2) to allow for allocation of Hotel Occupancy Tax
Revenues by Resolution; and
WHEREAS, the City Council of the City of Lubbock deems it to be in the
best interest of the citizens of Lubbock to adjust the current allocation of hotel occupancy
tax revenues; NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
1. THAT the funds received from the tax levied under Section 26-22(a) of the
Code of Ordinances of the City of Lubbock shall be distributed as follows:
Civic Services facility renovation & debt 17.58571 percent
• Historic Preservation & Restoration of
Ft Worth & Denver Depot
• Civic Center Renovation
Civic Center Operations/Marketing
Convention & Tourism Bureau
Lubbock Arts Alliance
Municipal Arts Administration
Visitor Information Center Depot
Inbound Tourist Travel- Airport
Visiting Participatory & Spectator Sports
Tourism Reserve Fund
8.18571 percent
42.85714 percent
5.71429 percent
5.71429 percent
2.87143 percent
1.07143 percent
14.42857 percent
1.57143 percent
Total 100.00 percent
2. THAT upon expiration of the Ft. Worth & Denver Depot debt, funds will be
used to pay debt on Civic Center Renovation; and
3. THAT to the extent revenue is collected, each of the above entities will
receive 100% of budgeted funds at the percentage indicated.
4. THAT revenue received in excess of the budgeted amounts attributed to
Convention & Tourism Bureau or Visiting Participatory & Spectator Sports
will be distributed to each of these funds. All other revenue received in
excess of the budgeted amounts will go into the Tourism Reserve Fund for
distribution by the City Council.
Passed by the City Council this 16th day of August 2004.
C OUGAL, MAYOR
ATTEST:
Reb&ca Garza, City Secretary
APPROVED AS TO CONTENT:
1
Assistant
APPROVED AS TO FORM:
Linda L. Chamales,
Senior Attorney / Office Practice
LC: /city att/Linda/RES- 2004 Hotel/Motel
August 2, 2004