(a)
There is hereby levied a tax upon the cost of occupancy of any sleeping room furnished by any hotel or short-term rental, as defined in section 40.06.001, article 40.06, chapter 40, where such cost of occupancy is at the rate of two dollars ($2.00) or more per day, such tax to be equal to seven (7) percent of the consideration paid by the occupant of such room to any hotel or short- term rental, exclusive of other occupancy taxes imposed by other governmental agencies.
(b)
Issuance of bonds; use of funds.
(1)
In the event the city council should in the future determine that revenue bonds should be issued for the purposes stated in the Texas Government Code, section 1504.002(a), all or any part of the tax levied under subsection (a) above may be pledged as security for revenue bonds issued pursuant to the aforesaid statute.
(c)
No tax shall be imposed under this article when state law provides an exemption from this tax.
(1959 Code, sec. 30-8; Ordinance 5972, sec. 1, adopted 11/19/1970; Ordinance 7533, sec. 1, adopted 9/8/1977; 1983 Code, sec. 26-22; Ordinance 8552, sec. 1, adopted 2/23/1984; Ordinance 9120, sec. 1, adopted 9/24/1987; Ordinance 9373, sec. 1, adopted 8/23/1990; Ordinance 9689, sec. 1, adopted 4/14/1994; Ordinance 9722, secs. 1, 2, adopted 10/13/1994; Ordinance 9801, sec. 1, adopted 5/11/1995; Ordinance 10021, sec. 1, adopted 10/9/1997; Ordinance 2002-O0049, sec. 1, adopted 5/9/2002; Ordinance 2012-O0071, sec. 1, adopted 7/26/2012; Ordinance 2019-O0128 adopted 9/10/2019)