The special revenue fund was established to record receipts collected by the state for a one-half percent sales tax on taxable items sold within the City of White Settlement. The tax was authorized by voter referendum on January 14, 1994. After passage of the tax, the Economic Development Corporation was formed and is comprised of seven members with the Mayor serving as the President of the Board. By-laws were written and structured within the framework of the Development Corporation Act of 1979, Section 4B. Authorized categories under this section include, among other items, land, buildings, or equipment for professional and amateur sports facilities, park facilities and events, entertainment and tourist facilities and affordable housing, as well as any other categories allowed by law.