San Jose Municipal Code Part 3 Authorized Expenditures - Establishment of Funds

A. Any special tax imposed pursuant to this Chapter may finance the acquisition, construction, reconstruction, replacement, rehabilitation, upgrade and maintenance of any Convention Center Facility.

B. Revenues from any special tax imposed under this Chapter may be spent on the following: debt service; lease payments; cost of issuance of securities issued for the purpose of financing or refinancing Convention Center Facilities; administrative costs of the District; prepayment of such securities; direct costs of acquisition, design and construction of Convention Center Facilities; ongoing capital repairs and maintenance of Convention Center Facilities.

C. The proceeds of any special tax imposed pursuant to this Chapter shall be expended on the purposes set forth in this Section and shall be deposited in the special funds as set forth below.

(Ords. 28387, 30069.)

The proceeds of any special tax imposed under this Chapter shall be deposited in a special fund to be known as the "Convention Center Facility District Revenue Fund." Interest which accrues from moneys in the Convention Center Facility District Revenue Fund shall be credited to this fund.

(Ord. 30069.)

A. There is hereby created and established the "Convention Center Facility District Capital Fund."

B. There shall be deposited into this fund moneys transferred from the Convention Center Facility District Revenue Fund or from any other funds which may be expended on the capital purposes set forth in Section 14.32.300. Moneys deposited into this fund from the Convention Center Facility District Revenue Fund may be transferred back into the Convention Center Facility District Revenue Fund. Moneys in the Convention Center Facility District Capital Fund shall be expended on the capital purposes set forth in Section 14.32.300.

C. Interest which accrues from moneys in the Convention Center Facility District Capital Fund shall be credited to this fund.

(Ord. 30069.)