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(7) Pledge the revenues to secure and liquidate revenue bonds issued by the county, subject to certain limitations. Figure 6.8: Local Option Fuel Tax Revenue Figure 6.7 shows the Tourist Development Tax by FY revenue received by Indian River County over the $3,700 last six fiscal years. Since FY 2010/11, Tourist $3,600 ($3.574 $3.508 Development Tax revenue has increased 63.62%. $3500 $3,400 ➢ Local Option Fuel Tax $3.300 $3,200 Local governments are authorized to levy up to -� $3.181 Uj $31731,$3.145 $3.133 twelve cents of local option fuel taxes in the form $3,100 of three separate levies. Those levies are: $3,000 ➢ a one to six cent local option fuel $2,soo tax; 10/11 11/12 12/13 13/14 14/15 15/16 ➢ a one to five cent local option fuel tax; and ■Revenue (in thousands) ➢ a ninth cent fuel tax. Source:Indian River County Finance Department Indian River County currently imposes the full six cents of the one to six cent fuel tax. That 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 ordinance adopted by a majority vote of the 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 1.50%of all funds collected by Indian River County for FY 2015/16. Figure 6.8 shows that,between FY 2010/11 and FY 2013/14 there has been a downward trend with local option fuel tax revenue for the county.That downward trend ended in FY 2014/15, when local option fuel tax revenue significantly increased. The more recent increase in local option fuel tax revenue can be attributed to an improving economy and lower fuel prices which have led to an increase in fuel consumption. All sixty-seven Florida counties levy the full $0.06 of the original local option fuel tax. Table 6.3 identifies the local fuel taxes levied in Indian River County and in other counties in the region.As shown in Table 6.3, Saint Lucie,Martin,Okeechobee,and Palm Beach counties all levy the highest allowable fuel taxes at$0.12 per gallon.Those four counties impose both the Ninth Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax. While Indian River County is eligible to levy the Ninth-Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax either by extraordinary vote of the Board of County Commissioners or by voter approval in a countywide referendum,it does not currently levy either tax. At this time, fifty-three of the sixty-seven Florida counties levy the Ninth-Cent Fuel Tax,while thirty-one of the sixty-seven Florida counties impose at least a portion of the One to Five Cent Local Option Fuel Tax. Community Development Department Indian River County Adopted December 5,2017,Ordinance 2017-015 9