Title
An Ordinance amending Section 2-172(c) of the Code of Ordinances to impose an additional transient room tax of two and one half percent (2.5%) of the rent for funding of the renovation, expansion, or improvement of the Lexington Convention Center by the Lexington Center Corp. and renumbering and relabeling the remaining subsections of Section 2-172 of the Code to be consistent with this change, all effective on September 1, 2016. [Div. of Revenue, Cook]
Summary
Authorization to Amend the Code of Ordinances to impose an additional transient room tax of two and one half percent (2.5%) for funding of the renovation, expansion, or improvement of the Lexington Convention Center. (L0511-16) (Cook/O’Mara)
Budgetary Implications [select]: N/A (Revenue will be generated)
Advance Document Review:
Law: {Yes, Completed by David Barberie, May 2016}
Risk Management: N/A
Fully Budgeted [select]: N/A (Revenue will be generated)
Account Number:
This Fiscal Year Impact: N/A
Annual Impact: N/A
Project:
Activity:
Budget Reference:
Current Balance:
Body
{COUNCIL CLERK’S OFFICE WILL COMPLETE - Body of Resolution or Ordinance}