(a) The portion of the proceeds distributed to the Etowah County Mega Sports Complex Authority under Section 45-28-91.02(a)(1) shall revert to the Etowah County Tourism Board, if, within three years from May 12, 2016, the Etowah County Mega Sports Complex Authority has not made substantial progress.
(b) For the purposes of this section, substantial progress means securing architectural drawings for the project, purchasing land upon which facilities will be located, and having engaged an architectural firm for the construction of the project.
Structure Code of Alabama
Article 9 - Economic and Industrial Development and Tourism.
Part 2 - Etowah County Tourism Board.
Section 45-28-91 - Applicability.
Section 45-28-91.01 - Creation; Composition; Powers and Duties.
Section 45-28-91.02 - Applicability and Disposition of Lodging Tax.
Section 45-28-91.03 - Tourism Board Tax Exemption.
Section 45-28-91.04 - Transfer of Funds, Contracts, Assets. Etc.
Section 45-28-91.05 - Reversion of Proceeds to Tourism Board.