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<br /> Section 7. Use of Sales Tax Revenues; Creation of <br />Capital Improvement Fund. <br /> (a) Pursuant to ~29-2-111, C.R.S. , there is hereby <br />established a special fund of the City to be known as the "City of <br />Louisville Sales Tax Capital Improvement Fund" (the "Capital <br />Improvement Fund") . Immediately upon the receipt or collection <br />thereof, the revenues derived from the Sales Tax, net of the <br />City's costs of collection and administration (the "Net Revenue") <br />shall be deposited or applied in the following manner: <br /> (i) One-third (1/3 ) of the Net Revenue (the <br />"Pledged Revenue" ) shall be deposited to the City's Capital <br />Improvement Fund and used solely for the purposes specified in <br />this Section 7, and such Pledged Revenue is hereby pledged to the <br />Capital Improvement Fund; and <br /> (ii) Two-thirds (2/3 ) of the Net Revenue shall be <br />deposited to the City's general fund or any other fund or account <br />as may be designated by the Council, and used for any municipal <br />purpose. <br /> (b) Amounts pledged or deposited to the Capital <br />Improvement Fund shall be used solely to provide capital <br />improvements or to pay debt service on bonds or other obligations <br />issued for the purpose of providing capital improvements, <br />including without limitation, the payment of all costs associated <br />with the construction, installation, acquisition, provision, <br />design, completion, improvement, replacement, and financing of <br />capital improvements of every character. <br /> Amounts deposited to the Capital Improvement Fund <br />shall not be available to be pledged or expended for any general <br />municipal purpose. <br /> Section 8. Use Tax Definitions. For the purposes of <br />Sections 8 through 13, inclusive, of this Ordinance, words not <br />otherwise defined herein shall have the meanings set forth in <br />~39-26-201, C.R.S. , as it currently exists or may hereafter be <br /> - 8 - <br />