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L-17 1985 -1 INTERLOCAL AGREEMENT BOCK 61 PACE 495 This Interlocal Agreement, entered into this 24th day of June , 1985, between INDIAN RIVER COUNTY, a political subdivision of the State of Florida, by and through its Board of County Commissioners, hereinafter referred to as "COUNTY," and the City of Orchid hereinafter referred to as "CITY," for the purpose of providing for the division and distribution of the proceeds of the local option gas tax imposed by the COUNTY pursuant to Florida Statutes §336.025. W I T N E S S E T H: WHEREAS, Florida Statutes 5336.025 grants the COUNTY the authority to levy, in addition to other taxes allowed by law, a local option gas tax upon every gallon of motor fuel and special fuel sold in the COUNTY and taxed under the provisions of Chapter 206, Florida Statutes; and WHEREAS, pursuant to said enactment, the COUNTY, in anticipation of the levy of the local option gas tax, may estab- lish by interlocal agreement with one or more of the munici- palities located within Indian River County representing a majority of the incorporated area population within the COUNTY, a distribution formula for dividing the proceeds of the local option gas tax among the COUNTY government and all eligible munici- palities within Indian River County; and WHEREAS, the CITY is a municipality located within Indian River County, Florida, and the CITY represents that the CITY is eligible to receive a portion of the local option gas tax as imposed by the Indian River County Local Option Gas Tax Ordinance, and desires to jointly establish with the COUNTY a distribution formula pursuant to Florida Statutes 5336.025(3)(a)(1). NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter set forth and pursuant to the statutory authority set forth herein, the COUNTY and the CITY agree as follows: 1. Upon its levy by the COUNTY, the proceeds of the local option gas tax shall ,be divided among, and distributed to the COUNTY and the eligible municipalities within the COUNTY as follows: RECIPIENT Indian River County City of Vero Beach City of Sebastian City of Fellsmere SHARE OF PROCEEDS 67.5567% 19.4200% 9.9033% 1.9567% Town of Indian River Shores 1.1433% City of Orchid .02% 2. The division and distribution of tax proceeds as stated in Paragraph 1 above shall be amended yearly based upon the following formula: The percentage of total revenue allocated to each eligible entity equals 1/3 of the entity's percentage of total equivalent lane miles of road plus 1/3 of the entity's percentage of transportation expenditures over the previous five years plus 1/3 of the entity's total percentage of population residing in the area based upon the 1984 estimate from the Florida Bureau of Economic and Business Research. -1-