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Comprehensive Plan Capital Improvements Element payment of debt service. Pledged revenues may be derived from operation of financed projects, grants, or other specified non -ad valorem taxes. A public referendum is not required prior to issuance or validation of such obligations. In the past, the county has issued revenue bonds to finance improvements to its sanitary sewer, potable water, and golf course facilities. In addition, revenue bonds have been issued by the Housing Authority to finance the provision of more low-income housing units in the county. Also, revenue bonds have been issued to finance the cost of construction of various capital improvement projects. Deposits from bond revenues are put into the respective bond fund accounts for these projects, whereby funds are specifically designated for a particular project, and user charges are used to pay off the debt. Special assessment bonds are bonds issued to pay for capital improvements that impact specific areas or groups of property owners. Proceeds from the assessments levied against benefiting property owners are used to pay off the bond debt. The issuance of these bonds does not need to be approved by voter referendum. Revenue bonds and special assessment bonds are similar in nature, except that special assessment bond debt is paid -off by assessments levied against benefiting property owners and not from ongoing user charges. The county has issued special assessment bonds for solid waste disposal. The issuance of tax anticipation or bond anticipation notes is an example of a short-term (less than five years) method of financing. Notes usually have higher interest rates than bonds and have shorter maturity dates than bonds. Tax anticipation notes are issued in advance of a new fiscal year to cover gaps in the budget before property taxes are received, while bond anticipation notes are issued in anticipation of the receipt by the county of proceeds from the sale of corresponding future bond issues. The county currently has no outstanding tax or bond anticipation notes. • Additional Optional Local Revenue Sources Use of additional revenue sources may occasionally be necessary, depending on priorities mandated by the Board of County Commissioners and the availability of existing revenue sources. Indian River County has two options to increase local revenues. These are to implement new taxes that are permitted by state regulation and/or to increase existing taxes and fees that are imposed by the county. Additional local revenue sources available to Indian River County include the Ninth Cent Fuel Tax, the One to Five Cent Local Option Fuel Tax, and the Professional Sports Franchise Facility Tax. Both the Ninth Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax are taxes on the purchase of fuel. With the Ninth Cent Fuel Tax, a one cent per gallon tax on motor fuel and special fuel can be levied on fuel purchases in the county. Revenue from the Ninth Cent Fuel Tax may be Community Development Department Indian River County Adopted November 2, 2010, Ordinance 2010-024 12