§201B-8  Convention center enterprisespecial fund.  (a)  There is established the convention center enterprisespecial fund, into which shall be deposited:

(1)  A portion of the revenues from the transientaccommodations tax, as provided by section 237D-6.5;

(2)  All revenues or moneys derived from theoperations of the convention center to include all revenues from the food andbeverage service, all revenues from the parking facilities or from anyconcession, and all revenues from the sale of souvenirs, logo items, or anyother items offered for purchase at the convention center;

(3)  Private contributions, interest, compensation,gross or net revenues, proceeds, or other moneys derived from any source or forany purpose arising from the use of the convention center facility; and

(4)  Appropriations by the legislature, including anytransfers from the tourism special fund established under section 201B-11 formarketing the facility pursuant to section 201B-7(a)(7).

(b)  Moneys in the convention center enterprisespecial fund shall be used by the authority for the payment of any and all debtservice relating to the convention center, any expense arising from any and alluse, operation, maintenance, alteration, improvement, or any unforeseen orunplanned repairs of the convention center, including without limitation thefood and beverage service and parking service provided at the convention centerfacility, the sale of souvenirs, logo items, or other items, for any futuremajor repair, maintenance, and improvement of the convention center facility asa commercial enterprise or as a world class facility for conventions,entertainment, or public events, and for marketing the facility pursuant tosection 201B-7(a)(7).

(c)  Moneys in the convention center enterprisespecial fund may be:

(1)  Placed in interest-bearing accounts;provided that the depository in which the money is deposited furnishes securityas provided in section 38-3; or

(2)  Otherwise invested by the authorityuntil such time as the moneys may be needed; provided that the authority shalllimit its investments to those listed in section 36-21.

All interest accruing from investment of the moneysshall be credited to the convention center enterprise special fund. [L 2002, c253, §2; am L 2005, c 235, §6]