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z <br />Revenue Manual <br />R1 Special Revenue Fund <br />Tourist Development Fund <br />Fund 119 <br />REVENUE Revenues generated from a levy of local option tourist development tax. <br />DESCRIPTION: <br />LEGAL AUTHORIZATION Florida Statue 125.0104 <br />FOR COLLECTION: County Code 210 <br />RATE: 1 % cents (1 %�) of the total levy of 4 cents for every dollar paid for tourist <br />accommodations as described below. <br />SOURCE: Recipients of the revenue generated by a person who rents, leases, or P, <br />lets for consideration any living quarters or accommodations in any <br />hotel, apartment hotel, motel, resort motel, apartment, apartment `9 <br />motel, rooming house, mobile home park, recreational vehicle park, <br />y, <br />condominium, or timeshare resort for a term of 6 months or less. <br />AUTHORIZED USE: Annually, the Tourist Development Council awards funds to agencies for the <br />promotion of tourism in Indian River County. These funds can also be used for paying <br />the debt service on allowable bonds and operation and maintenance costs of a <br />convention center (see Florida Statute 125.0104 (3)(1)1-4). <br />METHOD OF PAYMENT: Paid by Indian River County dealers to the IRC Clerk of Court. The Clerk of Court <br />deposits the money into this fund. <br />FREQUENCY OF Monthly <br />COLLECTION: <br />APPROXIMATE $610,000 <br />ANNUAL REVENUE: <br />$800,000 <br />$700,000 <br />Historical Revenues <br />$719,325 <br />39 <br />2 Xy y 3 1 <br />