Sec. 764.104. - Purpose of tax.

(a) All tax revenues and any interest accrued thereon received pursuant to this Chapter shall be used as follows: (1) To extend, enlarge, and improve existing publicly-owned convention centers in the County. (2) To construct a multipurpose convention/coliseum/exhibition center or the maximum components thereof as funds permit in the County. (3) To acquire, construct, extend, enlarge, remodel, repair, improve or maintain one or more convention centers, stadiums, exhibition halls, arenas, coliseums, or auditoriums. (b) For the purposes of completion of any project pursuant to this Chapter, tax revenues and interest accrued may be used: (1) As collateral, pledged or hypothecated, for projects authorized by this Section, including bonds issued in connection therewith. (2) As a pledge or capital contribution in conjunction with a partnership, joint venture, or other business arrangement between the City and one or more business entities for projects authorized by this Chapter. (Ord. 83-762-402, § 1)