HomeMy WebLinkAboutResolution - 2019-R0325 - Allocation Of Hotel Occupancy Tax - 09/10/2019 Resolution No. 2019-RO325
Item No. 7.6
September 10, 2019 RESOLUTION
WHEREAS,the City Council of the City of Lubbock, by Ordinance No. 2002-
00049,amended Subsection 18.03.001(b)(2)of the Code of Ordinances of the City of
Lubbock 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 18.03.001(a)
of the Code of Ordinances of the City of Lubbock, net of collection
expenses, shall be distributed as follows:
Convention& Tourism Bureau 42.38340
percent
Civic Center Operations/Marketing 22.00270
percent
Visiting Participatory & Spectator Sports Marketing 13.81600
percent
Transfer to CIP—Civic Center 8.44084
percent
North Overton TIF Conference Center Debt Service 6.30620
percent
Civic Lubbock, Inc. 5.92120
percent
Buddy & Maria Elena Holly Plaza Debt Service 1.12966
ep rcent
Total 100.00000
percent
2. THAT to the extent revenue is collected, each of the above entities will
receive 100 percent of actual revenue at the percentage indicated.
Passed by the City Council this 10th _day of_September , 2019.
DANIEL M. POPE, MAYOR
ATTEST:
Reb kcca Garza, 'ity Secre ry
1
APPROVED AS TO CONTENT:
D. Blu Ko telich,
Chief Financial Officer
APPROVED AS TO FORM:
Amy >m
Dep y City Attorney
RES.Holel-Motel 19-20
2