Sec. 9. Money in the food and beverage tax receipts fund must be used by the town only for the following purposes: (1) Parks, trails, and sidewalk, street, and parking improvements to support tourism in the town. (2) For economic development purposes, including the pledge of money under IC 5-1-14-4 for bonds, leases, or other obligations for economic development purposes. Revenue derived from the imposition of a tax under this chapter may be treated by the town as additional revenue for the purpose of fixing its budget for the budget year during which the revenues are to be distributed to the town.
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