§ 11-2-15. USE OF REVENUE.

(A)

The funds deposited in the Venue Project Fund may only be used for the following purposes:

(1)

to reimburse or pay the costs of planning, acquiring, establishing, developing, constructing, or renovating the Convention Center/Waller Creek Project;

(2)

to pay the principal, interest, reserves, and other cost relating to bonds or other obligations issued by the City for the Convention Center/Waller Creek Project, or bonds issued to refund the obligations; or

(3)

to pay the costs of operating or maintaining the project.

(B)

The collection of the tax shall be discontinued when the bonds or other obligations described in this section are paid in full, unless the tax is continued in accordance with state law.

Source: 1992 Code Section 5-3-16; Ord. 031204-10; Ord. 031211-11.