Sec. 111.600. - Tourist Development Tax Special Revenue Fund; Development, Contingency, Convention Grants, Sponsorships and Promotions, and Equestrian Center Grants Accounts.

(a) Creation . There is created the Tourist Development Tax Special Revenue Fund, a permanent special revenue fund of the City, into which shall be paid all moneys received from the Tax Collector as proceeds of the tourist development tax levied by the City Council and approved by the people. The funds in the Tourist Development Tax Special Revenue Fund shall be expended in accordance with the Tourist Development Plan in Section 666.108 , Ordinance Code, as approved by the people, and thereafter as may be amended by the City Council. The Director of Finance and Administration is authorized and directed to make disbursements from this fund upon the requisition of the Executive Director and/or the Chairman of the Duval County Tourist Development Council; provided, that payments of the debt service requirements of any revenue bonds issued pursuant to the Tourist Development Plan shall be made from this fund as required by the revenue bonds. All revenues and funds deposited into this fund shall not lapse to the General Fund. (b) Development account, expenditures. There is hereby established, in addition to the Tourist Development Tax Special Revenue Fund, a separate development account ("Development Account"). The Executive Director and/or Administrator of the Tourist Council shall keep a record of the balances, and these funds shall be available for withdrawal as provided in this Section. The Development Account funds shall be for the purpose of acquiring, constructing, extending, enlarging, remodeling, or improving publicly owned convention centers, coliseums (e.g., arena) or auditoriums (e.g., performing arts center) and aquariums or museums that are publicly owned and operated or owned and operated by a not for profit organization and open to the public. In acquiring, constructing, extending, enlarging, remodeling, or improving such facilities, the usual City procedures shall be followed. No funds in the Development Account shall be used for the general or routine maintenance, operating or promotion of such facilities. It is not required that the funds in the Development Account be expended on an activity or project in each fiscal year, and any such funds transferred or appropriated to the Development Account be expended on an activity or project in each fiscal year, and any such funds transferred or appropriated to the Development Account pursuant to Section 666.108 (c), Ordinance Code, shall accumulate from year to year until sufficient funds are available to adequately fund an acquisition, construction, extension, enlargement, remodeling, or improvement project for such facilities. All revenues and funds deposited into the Development Account shall not lapse to the General Fund. Any projects and activities funded from the Development Account shall be approved by the City Council. (c) Contingency Account; expenditures. There is hereby established, in addition to the Tourist Development Tax Special Revenue Fund, a separate contingency account ("Contingency Account") to receive the funding allocations and appropriations to the Tourist Development Plan component described in subsection 666.108 (b)(5), Ordinance Code, to be used for unforeseen opportunities of major significance to tourism in the City. All revenues and funds deposited into the Contingency Account shall not lapse to the General Fund. (d) Convention Grants, Sponsorships, and Promotions Account; expenditures. There is hereby established, in addition to the Tourist Development Tax special Revenue Fund, a separate account ("Convention Grants, Sponsorship and Promotions Account") to receive funding allocations and appropriations to the Tourist Development Plan subcomponent for convention grant awards, sponsorship and promotions as described in 666.108 (b)(1)(iv), Ordinance code. Monies in this account shall only be used for convention grant awards, sponsorship and promotions. Monies and interest appropriated into this account shall be for the purpose set forth herein and shall not lapse to the General Fund at the close of any fiscal year, but instead shall carry over into subsequent fiscal years. Subject to the availability of appropriated funds in this account, the Director of Finance and Administration, or his designee, is authorized and directed to make disbursements from this account upon receipt of the Tourist Development Council Executive Director's disbursement request. (e) Equestrian Center Grants Account; expenditures. There is hereby established, in addition to the Tourist Development Tax special Revenue Fund, a separate account ("Equestrian Center Grants Account") to receive funding allocations and appropriations to the Tourist Development Plan component for equestrian center grant awards described in 666.108 (b)(6), Ordinance Code. Monies in this account shall only be used to award equestrian center grants. Monies and interest appropriated into this account shall be for the purpose set forth herein and shall not lapse to the General Fund at the close of any fiscal year, but instead shall carry over into subsequent fiscal years. Subject to the availability of appropriated funds in this account, the Director of Finance and Administration, or his designee, is authorized and directed to make disbursements from this account upon receipt of the Tourist Development Council Executive Director's disbursement request. (Ord. 78-559-277, § 2; Ord. 83-591-400, § 1; Ord. 90-656-410, § 1; Ord. 2006-422-E, § 11; Ord. 2016-140-E , § 16; Ord. 2016-599-E , § 5; Ord. 2019-152-E , § 4; Ord. 2019-769-E , § 5; Ord. 2020-356-E , § 2; Ord. 2022-515-E , § 3) Editor's note— Ordinance 2007-839-E, § 18, authorized updated department/division names pursuant to reorganization. Note— Former § 128.210 and 110.310.