67.680.  Cost of collection — fund established — county treasurer's duties — bonding requirements — annual audit — abolishing tax, effect on fund. — 1.  All tourism sales taxes under sections 67.671 to 67.685^* collected by the county collector, less one percent for cost of collection which shall be deposited in the county's general revenue fund after payment of premiums for surety bonds required by subsection 4 of this section, shall be deposited with the county treasurer in a special trust fund, which is hereby created, to be known as the "County Advertising and Tourism Promotion Trust Fund".  The moneys in the county advertising and tourism promotion trust fund shall be deemed to be dedicated county funds and shall not be commingled with any other funds of the county.  The county treasurer shall keep accurate records of the amount of money in the trust fund and the records shall be open to the inspection of officers of the county, the state and the public.

  2.  The county treasurer may make refunds from the amounts in the trust fund and credited to any county for erroneous payments and overpayments made.  If the county abolishes the tax in any area, the county collector may retain, in the trust fund, for a period of one year, two percent of the amount collected from such area to cover possible refunds or overpayments of the tax within such area.  After one year has elapsed after the effective date of abolition of the tax in such area, the county treasurer shall close the account of that area.

  3.  The county treasurer shall annually report on his management of the trust fund and administration of such tourism sales taxes.  He shall provide the governing body of the county with a detailed accounting of the source of all funds received by him for the county.  Notwithstanding any other provisions of law, the state auditor shall annually audit the trust fund.

  4.  The county collector and the county treasurer and any of their deputies, assistants and employees, who shall have any duties or responsibilities in connection with the collection, deposit, transfer, transmittal, disbursement, safekeeping, accounting, or recording of funds which come into their hands under the provisions of sections 67.671 to 67.685 shall enter additional surety bonds, payable to the counties in whose behalf such funds have been collected under the provisions of sections 67.671 to 67.685, as may be required by the governing body of their respective counties.  The cost of the premium for the additional surety bonds shall be paid from the county advertising and tourism promotion trust fund.