Section 26-77 Tourism fund established.

There is hereby established a convention and tourism fund. All taxes levied and collected pursuant to this article shall be deposited to the credit of such fund as hereinafter provided. Seventy-five percent of the taxes collected under this article shall be placed in a separate account to be used and expended by the city only for promoting conventions and tourism in the city. Twenty-five percent of the taxes collected under this article shall be placed in a separate account to be used and expended by the city only for planning, promoting, operating and constructing tourist attractions and planning and promoting tourist events which have substantial potential to generate overnight visitation.