§ 8-34. Purpose.

Sixty-two and one-half (62.5) percent of the eight (8) percent excise tax activity collected shall be paid to the Cobb-Marietta Coliseum and Exhibit Hall Authority for the following purposes:

(a)

At least sixty-two and one-half (62.5) percent of the total eight (8) percent excise tax shall be expended for the purposes of:

(1)

Promoting tourism, conventions, and trade shows.

(2)

Funding, supporting, acquiring, constructing, renovating, improving, and equipping buildings, structures, and facilities, including, but not limited to, a coliseum, exhibit hall, conference center, performing arts center, or any combination thereof, for convention, trade show, athletic, musical, theatrical, cultural, civic, and performing arts purposes and other events and activities for similar and related purposes, acquiring the necessary property therefor, both real and personal, and funding all expenses incident thereto, and supporting, maintaining, and promoting such facilities owned, operated, or leased by or to the Cobb-Marietta Coliseum and Exhibit Hall Authority.

(3)

For some combination of such purposes.

(b)

At least fifty (50) percent of the total eight percent (8) excise tax shall be expended for the purpose of funding, supporting, acquiring, constructing, renovating, improving, and equipping buildings, structures, and facilities, including, but not limited to, a coliseum, exhibit hall, conference center, performing arts center, or any combination thereof, for convention, trade show, athletic, musical, theatrical, cultural, civic, and performing arts purposes and other events and activities for similar and related purposes, acquiring the necessary property therefor, both real and personal, and funding all expenses incident thereto, and supporting, maintaining, and promoting such facilities owned, operated, or leased by or to the Cobb-Marietta Coliseum and Exhibit Hall Authority.

(c)

Amounts so expended shall be expended only through a contract or contracts with the state, a department of state government, a state authority, a convention and visitors bureau authority created by local act of the General Assembly for a municipality, the Cobb-Marietta Coliseum and Exhibit Hall Authority or a private sector nonprofit organization or through a contract or contracts with some combination of such entities; and the city agrees to execute such a contract with the Cobb-Marietta Coliseum and Exhibit Hall Authority.

(Ord. No. 91-25, § 5, 10-7-91)

Editor's note

The operating agreement between the city and the Exhibit Hall Authority was ratified by Ord. No. 91-28, adopted Nov. 18, 1991.