HomeMy WebLinkAboutORD 7209 AMEND ARC CODE SECTION 2-32 TO PROVUIDE FOR THE USE OF THE HOTEL MOTEL TAX ORDINANCE NO. 7 209
AN ORDINANCE TO AMEND AUGUSTA - RICHMOND COUNTY CODE SECTION 2-
2-32; TO PROVIDE FOR THE USE OF THE HOTEL AND MOTEL TAX; TO
PROVIDE AN EFFECTIVE DATE; TO REPEAL CONFLICTING ORDINANCES; AND
FOR OTHER PURPOSES.
BE IT ORDAINED BY THE AUGUSTA - RICHMOND COUNTY COMMISSION, AND
IT IS HEREBY ORDAINED BY AUTHORITY OF SAME AS FOLLOWS:
Section 1. Augusta- Richmond County Code §2 -2 -32 is hereby amended by striking said
section in its entirety, and substituting in lieu thereof the following, to wit:
Sec. 2 -2 -32. DISTRIBUTION OF PROCEEDS.
(a) For collections subsequent to February 1, 2010, sixteen and two thirds (16 2/3)
percent of the Hotel -Motel Excise Tax imposed by this section is hereby
appropriated to the Augusta - Richmond County Coliseum Authority for the
construction and expansion of the civic center or coliseum as provided in
O.C.G.A. §48- 13- 51(a)(4), and to satisfy Twenty and Eight Hundred Thirty Three
Thousandths (20.833) percent of the annual debt service requirements of the
$22,120,000 Augusta - Richmond County Coliseum Authority (Georgia) Revenue
Bonds (Coliseum and TEE Center Project), Series 2010 Bonds, with proceeds
from the Hotel -Motel Tax in excess of the amounts needed to fulfill the debt
service allocation provided above, to be delivered to such Authority each month.
(b) For collections subsequent to February 1, 2010 an additional thirty three and one
third (33 1/3) percent of the Hotel -Motel Excise Tax imposed by this section is
hereby appropriated to the Augusta - Richmond County Coliseum Authority for the
support, construction and expansion of the civic center or coliseum as provided in
O.C.G.A. §48- 13- 51(a)(4), and such proceeds from the Hotel -Motel Tax shall be
delivered as follows:
(1) Of said thirty three and one third (33 1/3) percent of the Hotel -Motel Excise Tax,
an amount necessary to satisfy Twenty and Eight Hundred Thirty Three
Thousandths (20.833) percent of the annual debt service requirements of the
$22,120,000 Augusta - Richmond County Coliseum Authority (Georgia) Revenue
Bonds (Coliseum and TEE Center Project), Series 2010 Bonds not otherwise
satisfied pursuant to paragraph (a) above.
(2) Of said thirty three and one third (33 1/3) percent of the Hotel -Motel Excise Tax,
one million ($1,000,000.00) dollars of such proceeds annually shall be used to
satisfy the debt service requirements of the $22,120,000 Augusta - Richmond
County Coliseum Authority (Georgia) Revenue Bonds (Coliseum and TEE Center
Project), Series 2010 Bonds.
(3) The balance of the proceeds of said thirty three and one third (33 1/3) percent of
the Hotel -Motel Excise Tax shall be delivered to such Authority each month.
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(c) For collections subsequent to January 1, 2010, fifty (50) percent of the Hotel -
Motel Excise Tax imposed by this section is hereby appropriated to the Augusta
Convention and Visitors Bureau, Inc.
(d) Amounts paid to the Augusta Convention and Visitors bureau, Inc. pursuant to
subsection (c) hereof shall be used solely as provided in the contract between the
Augusta Convention and Visitors Bureau, Inc. and Augusta, Georgia.
Section 2. This ordinance shall become effective on the first day of the second month
following its adoption.
Section 3. All ordinances or parts of ordinances in conflict herewith are hereby appealed.
Duly adopted by the Augusta — Richmond County Commission this — day of November '
2010.
Augusta — Richmond County Commission
By: Cfi `mob " 1'
Its: Mayor
Atte t:
4 /Ji L i
' ts. lerk t •mmission
First Reading: October Xq, 2010
Second Reading: November 4, 2010
Publish in the Augusta Chronicle November 18, 2010