Food and beverage tax receipts fund
Sec. 8. (a) If a tax is imposed under section 3 of this chapter, the
fiscal body of the municipality shall establish a food and beverage
tax receipts fund.
(b) The fiscal officer of the municipality shall deposit in this fund
all amounts received under this chapter.
(c) Any money earned from the investment of money in the fund
becomes a part of the fund.
(d) Money in this fund shall be used by the municipality solely to
finance, construct, improve, equip, operate, and maintain public
parking and public restroom facilities or to renovate, equip, operate,
and maintain any structure that may be used as a public parking or
public restroom facility. The municipality may enter into lease or
contractual arrangements, or both, with governmental, not-for-profit,
or other private entities to operate and maintain these facilities.
As added by P.L.111-1987, SEC.1.
Last modified: May 28, 2006