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Comprehensive Plan Capital Improvements Element <br />(4) Finance beach development and restoration as well as shoreline protection and <br />restoration of inland lakes and rivers to which there is public access; <br />(5) Construct, improve, maintain, and promote museums, zoos, fishing piers, or nature centers <br />which are publicly owned and operated either by the county or a not-for-profit organization <br />which opens the facilities to the public (applicable to those counties with a population less <br />than 500,000); <br />(6) Pledge the revenues to secure and liquidate revenue bonds issued by the county, <br />subject to certain limitations. <br />Figure 6.7 shows the Tourist Development Tax revenue received by Indian River County over the <br />last six fiscal years. During that time period, tourist tax revenue received by Indian River County <br />fluctuated based on market conditions, but had an overall increase of 19.59%. <br />• Local Option Fuel Tax <br />Local governments are authorized to levy up to <br />twelve cents of local option fuel taxes in the <br />form of three separate levies. These levies are: <br />➢ a one to six cent local option fuel <br />tax; <br />➢ a one to five cent local option <br />fuel tax; and <br />➢ a ninth cent fuel tax. <br />Indian River County currently imposes the full <br />six cents of the one to six cent fuel tax. This tax <br />applies to every net gallon of motor and diesel <br />fuel sold within a county. The one to six cent <br />fuel tax may be authorized by an ordinance <br />adopted by a majority vote of the governing <br />Figure 6.8: Local Option Fuel Tax <br />Revenue <br />$3,400 $3,367 <br />$3,324 $3,319 <br />$3,300 $3::t7l <br />290 <br />$3,200 $ 3,200 <br />$3,100 <br />$3,000 <br />$2,900 <br />$2,800 <br />2004 2005 2006 2007 2008 2009 <br />■ Revenue (in thousands) <br />body or voter approval In a county -wide Source: Indian River County Finance Department <br />referendum. Generally, the proceeds may be used to fund transportation expenditures. <br />Table 6.1 shows that local option fuel tax revenue represented 1.36% of all funds collected by Indian <br />River County for FY 2008/09. Figure 6.8 shows that local option fuel tax revenue for the county has <br />decreased overall by 3.73% from what it was in Fiscal Year 2004. Even though local option fuel tax <br />revenues were less in fiscal year 2009 than what they were in fiscal year 2004, the county received a <br />significant increase in local option fuel tax revenue in fiscal years 2005 through 2007. This was <br />largely associated with the building boom. <br />Community Development Department <br />Adopted November 2, 2010, Ordinance 2010-024 <br />Indian River County <br />9 <br />