HomeMy WebLinkAboutResolution - 2014-R0322 - Set Distribution Amounts For Hotel Occupancy Tax Revenues - 09/11/2014RESOLUTION
WHEREAS, the City Council of the City of Lubbock, by Ordinance No. 2002-
00049,
0020004'9, 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 CI'T'Y 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 chi Tourism Bureau 38.63691 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 6.56732 percent
Civic Lubbock, Inc. 5.92120 percent
Transfer to CIP - Coliseum 1.39787 percent
Buddy & Muria Elena I lolly Plaza Debt Service 1.36052 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.
Passed by the City Council on September 11, 2014
GLE ", ROBL TSON, MAYOR
ATTEST:
Reb tca Garza, City Secretary
APPROVED AS TO CONTEN"i:
Cheryl Brock -
I:xecutive Director of Budget
APPROVED AS TO FORM:
Amy Ims
Dep ty Attomey-Transaction
Res. Hotel -Mote 114-15
7.9.14