Money in the food and beverage tax receipts fund must be used by the city only for the following purposes:
- (1) Park and recreation purposes, including the purchase of land for park and recreation purposes.
- (2) Economic development and tourism related purposes or facilities, including the purchase of land for economic development or tourism related purposes.
- (3) The pledge of money under IC 5-1-14-4 for bonds, leases, or other obligations incurred for a purpose described in subdivisions
- (1) and (2).
As added by P.L.157-2026, SEC.198.