1. (a) If a tax is imposed under section 3 of this chapter, the fiscal body of the municipality shall establish a food and beverage tax receipts fund.
2. (b) The fiscal officer of the municipality shall deposit in this fund all amounts received under this chapter.
3. (c) Any money earned from the investment of money in the fund becomes a part of the fund.

4. (d) Money in this fund shall be used by the municipality to:

   1. (1) finance, construct, improve, equip, operate, and maintain public parking and public restroom facilities;
   2. (2) renovate, equip, operate, and maintain any structure that may be used as a public parking or public restroom facility; or

   3. (3) finance, construct, improve, equip, operate, and maintain sidewalks and other streetscape improvements.

      The municipality may enter into lease or contractual arrangements, or both, with governmental, not-for-profit, or other private entities to operate and maintain these facilities and improvements.

As added by P.L.111-1987, SEC.1. Amended by P.L.65-2013, SEC.1.