HomeMy WebLinkAboutResolution - 2015-R0305 - Distribute Hotel Occupancy Tax Revenues - 09/10/2015Resolution No. 2015-RO305
Item No. 7.4
September 10, 2015 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 45.10808 percent
Civic Center Operations/Marketing 25.27496 percent
Visiting Participatory & Spectator Sports Marketing 12.10454 percent
North Overton TIF Conference Center Debt Service 8.73668 percent
Transfer to CIP — Buddy Holly Center 1.47059 percent
Civic Lubbock, Inc. 5.92120 percent
Buddy & Maria Elena Holly Plaza Debt Service 1.38395 percent
Total 100.00000 percent
2. THAT to the extent revenue is collected, each of the above entities will
receive 100% of actual revenue at the percentage indicated.
GLEN C. ROBERTSON, MAYOR
ATTEST:
Reb tca Garza, City Secret
APPROVED AS TO CONTENT:
01Aj( &GCc
Cheryl brock,
Executive Director of Budget
APPROVED AS TO FORM:
Amyk Sim
Depdty-City Attorney
RES.Hotel-Motel 15-16 (7.07.15)