All fees and revenues collected pursuant to the authority of this article shall be used for such promotional purposes as the council shall find will contribute to the growth, enlargement and prosperity of the city and will forward, encourage, advance, help, aid and assist in the growth, enlargement and prosperity of the city. The moneys collected hereunder by the city shall be used only for the purposes as set forth in this section, and the city may place the moneys collected in a separate fund earmarked only for the purposes as set forth in this section. (Ord. 787 NCS §2; prior code §23.27.)