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CHAPTER 658 Session Laws -- 1989 cause shown, compromise or forgive the penalties imposed by this subsection. (e) Use and Disposition of Revenue. Cabarrt, s County, shall remit one hundred percent (100%) of the net proceeds of the occupancy tax to the Cabarrus CountT, Tourism Authority established under Section 2 of this act. As used in this act. "net proceeds" means gross proceeds less the direct cost to the county of administering aud collecting the tax, not to exceed five percent (5%) of the amount coltected. The Authority may expend occupancy tax revenue remitted to it by the county during a fiscal year, and any other revenue it receives, only to develop or promote tourism, tourist-related support services and facilities, tourist-related events, tourist-related activities, or tourist attractions. The Cabarrus County. Finance Officer shall distribute the amounts due the Authority at least monthly. (f) Effective Date of Levy. A tax levied under this act shall become effective on the date specified in the resolutio,~ levying the tax. That date must be the first day of a calendar month, however, and may not be earlier than the first day of the second month after the date the resolution is adopted. (g) Repeal. A tax levied under this act may be repealed by a resolution adopted by the Cabarrus Connty Board of Commissioners. Repeal of a tax levied under this act shall become effective on the first day of a month and may qot become effective until the end of the fiscal year in which the repeal resolution was adopted. Repeal of a tax levied under this act does not affect a liabiliD' for a tax that attached before the effective date of the repeal, nor does it affect a right to a refund of a tax that accrued before the effective date of the repeal. Sec, 2. £stablishment, .-lppohmne~u, and Ditties qf Cabarrus Cotmty Totwism Authority. C,a) Establishment and Membership. When the Cabarrus County Board of Commissioners adopts a resolution levying a room occupancy tax pursuant to this act. it shall establish and create the Cabarrus County Tourism Authority composed of nine members, with seats on the Anthority numbered one through nine, all of whom shall be appointed by the board, selected as follows: (l) Seats l. 4. and ? st~all be selected by the board at large and shall inch~de, but not be limited to. at least one member of the board or the Cabarrus County Manager: (2) Seats 2. 5. and 8 shall be appointed by the board fi'om a list of at least three persons submitted by the Concord-Cabarrus Chamber of Commerce'. and 1834