Drafter
Clerk 05/06/2004
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AN ORDINANCE relating to arts and culture in King County; amending the allocation of hotel-motel tax revenues in the King County arts and cultural development fund; making technical corrections; and amending Ordinance 14440, Section 3, as amended and K.C.C. 4.42.025.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 14440, Section 3, as amended, and K.C.C. 4.42.025 are each hereby amended to read as follows:
Hotel-motel revenue allocations for cultural programs.
A. Hotel-motel revenues deposited in the King County arts and cultural development fund, created under K.C.C. 4.08.190, shall be administered by the cultural development authority.
B. Hotel-motel revenues deposited in the King County arts and cultural development fund shall be used to support the cultural programs described in K.C.C. chapter 2.48: cultural facilities; cultural education; special projects; and sustained support. The hotel-motel revenues in the fund shall also support related administration of those programs by the cultural development authority.
C. Through December 31, 2012, at least forty percent of the hotel-motel revenues appropriated to the arts and cultural development fund and transferred to the cultural development authority shall be deposited in an account and used to establish cultural endowment. Principle and interest shall be managed by the cultural development authority in accordance with RCW 67.28.180(3)(a).
D. After allocating the hotel-motel portion of the arts and cultural development fund to administer cultural programs and to build the cultural endowment, the cultural development authority shall divide the hotel-motel revenues in the arts and cultural development fund between arts programs and heritage programs, but at least twenty percent of the revenue shall be allocated to heritage programs.
E. Beginning January 1, 2002, outstanding debt service obligations shall be financed from hotel...

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