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34 <br />(3) Tourism-related expenditures. -Expenditures that; in the judgment of <br />the Tourism Development Authority, -are designed to increase the use of <br />lodging facilities, meeting facilities, and-convention facilities in a town <br />by attracting tourists or business travelers to the town. The term <br />includes tourism-related capital expenditures. <br />SECTION 14.2. Carrbor-o Tourism Development Authority. - (a) <br />Appointment and Member-ship. -When the governing -body of the Town of Carrboro <br />adopts _a resolution levying a room occupancy tax under this Part, it shall -also adopt a <br />resolution creating a Tourism Development Authority, which shall ~be a public authority <br />under tl-re Local Government Budget and Fiscal Control Act. The resolution shall provide <br />-for the -membership of the Authority, including the members' terms of office, and for the <br />filling of vacancies- on the. Authority. At least one-third of the members must be <br />individuals who are affiliated with businesses that collect the tax in the town, .and at least <br />three-fourths of the members must be individuals who are currently active in the <br />promotion of travel and tourism in the town. The-governing--body -of the Town of <br />Carrboro shall designate one member of the Authority as chair and shall determine the <br />compensation, if any, to be paid to members of the Authority. <br />The Authority shall meet at the call of the chair and shall adopt rules of <br />procedure to govern its meetings. The Finance Offieer for the Town of Carrboro shall be <br />the ex officio finance officer of the Authority. <br />SECTION 14.2.(b) Duties. -The Authority shall expend the net_proceeds of <br />the tax levied under this Part for the purposes provided in this Part. Thy Authority shall <br />promote travel, tourism,-and conventions in the town, sponsor tourist-related events and- <br />activities in the town, and finance tourist-related capital projects in the town. <br />SECTION 14.2.(c) Reports. -The Authority shall report quarterly and at the <br />close of the fiscal year to the governing body of the Town of <br />Carrboro <br />on its receipts and expenditures <br />for the preceding quarter and for the year in such detail as the board may require. <br />