(1) There is hereby created a special fund to be known as the regional tourism tax fund. All taxes levied herein shall be placed in said fund and may be used only for the purposes allowed in RCW 67.28.120 or 67.28.130, or to pay or secure the payment of general obligation bonds or revenue bonds issued for such purposes or to develop strategies to expand tourism within the county and to support comprehensive regional marketing for Snohomish county tourism or to support the operations and capital expenditures of tourism-related facilities owned or operated by a municipality or a public facilities district created under chapters 35.57 and 36.100 RCW. Until withdrawn for such use, the moneys accumulated in the regional tourism fund may be invested in interest-bearing securities by the county in any manner authorized by law, with all interest earned being credited to the fund.

(2) The county executive shall designate a fund manager for the regional tourism tax fund, whose name and title shall appear on a master list of fund managers maintained in the department of finance. (Added by Amended Ord. 94-060 § 1, July 6, 1994, Eff date Sept. 1, 1994; Amended by Ord. 97-064 § 1, July 16, 1997, Eff date July 27, 1997; Amended by Ord. 06-090, Nov. 20, 2006, Eff date Jan. 1, 2007; Amended by Ord. 14-103, Jan. 7, 2015, Eff date Jan. 24, 2015).