A. The treasurer shall place one percent of the proceeds of the excise tax imposed under this chapter in the current expense fund of Skagit County to defray the costs of collection.

B. There is hereby created in the city treasury a special fund designated the growth management capital improvements fund. The treasurer shall deposit the remaining proceeds of the excise tax imposed under this chapter in the growth management capital improvements fund. Moneys deposited in the growth management capital improvements fund, together with the interest income and profit received from the investment thereof, shall be expended only for capital projects in conformance with the capital facilities plan. (Ord. 2174 § 3, 1991)