(1) Fifty percent of the revenue shall be used for the acquisition of sites for, or constructing, improving, enlarging, equipping, repairing, operating, or maintaining of recreation, convention, cultural, or entertainment facilities including, but not limited to, memorial buildings, halls and monuments, civic center, convention buildings, auditoriums, coliseums, and parking areas or facilities located at those recreation, convention, cultural or entertainment facilities or the payment of principal interest, when due, on bonds or other evidence of indebtedness issued by the county or city for those recreation, convention, cultural, or entertainment facilities; or for the promotion and encouragement of tourist and convention business in the city or county and surrounding areas.

(2) The remaining revenues may be spent by the city for any city operation authorized by law as a proper purpose for the expenditures within statutory limitations of city revenues derived from ad valorem taxes. [Ord. 503 § 1, 2005; Code 1975 § 7-6.06.]