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Comprehensive Plan Capital Improvements Element (3) Fund convention bureaus and other tourist information bureaus as county agencies or by contract with the Chamber of Commerce or similar associations in the county; (4) Finance beach development and restoration as well as shoreline protection and restoration of inland lakes and rivers to which there is public access; (5) Construct, improve, maintain, and promote museums, zoos, fishing piers, or nature centers which are publicly owned and operated either by the county or a not-for-profit organization which opens the facilities to the public (applicable to those counties with a population less than 500,000); (6) Pledge the revenues to secure and liquidate revenue bonds issued by the county, subject to certain limitations. Figure 6.7 shows the Tourist Development Tax revenue received by Indian River County over the last six fiscal years. During that time period, tourist tax revenue received by Indian River County fluctuated based on market conditions, but had an overall decrease of 20.94%. • Local Option Fuel Tax Local governments are authorized to levy up to twelve cents of local option fuel taxes in the form of three separate levies. These levies are: ➢ a one to six cent local option fuel tax; ➢ a one to five cent local option fuel tax; and ➢ a ninth cent fuel tax. Indian River County currently imposes the full six cents of the one to six cent fuel tax. This tax applies to every net gallon of motor and diesel fuel sold within the county. The one to six cent fuel tax may be authorized by an Figure 6.8: Local Option Fuel Tax Revenue $3,400 $3,367 $ 3,319 $ 3,336 $3,300 $3,zso $ 3,200 $3,200 -- $3,100 -- $3,043 $3,000 - - -- - $2,900 — — - - - $2,800 2005 2006 2007 2008 2009 2010 ® Revenue (in thousands) ordinance adopted by a majority vote of the Source: Indian River County Finance Department governing body or voter approval in a county- wide referendum. Generally, the proceeds may be used to fund transportation expenditures. Table 6.1 shows that local option fuel tax revenue represented 1.55% of all funds collected by Indian River County for FY 2009/10. Figure 6.8 shows that local option fuel tax revenue for the county peaked in FY 2004/05 (during the building boom), then decreased through FY 2007/08 and Community Development Department Indian River County Adopted November _, 2011, Ordinance 2011-_ 9