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(6) (7) Finance beach development and restoration as well as shoreline protection and restoration of inland lakes and rivers to which there is public access; Pledge the revenues to secure and liquidate certain limitations. Figure 6.7 shows the Tourist Development Tax revenue received by Indian River County over the last six fiscal years. Since FY 2PO9492010/115 Tourist Development Tax revenue has graduate 2 c nnn ii��Er�E�tiSEEI--fiA�iii��T��301415 ,,z ,vva-?xa— �. �..��7 .5000 in FV 2 r. ... �T�t., vCMtt increased ef1.0963.62% Eluf ag thattime. fame. ➢ 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. Those levies are: ➢ a one to six cent local option fuel tax; revenue bonds issued by the county, subiect to ➢ 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. 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 591.50% of all funds collected by Indian River County for FY 2014432015/16. Figure 6.8 shows that, between FY 2099492010/11 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. lifnited gas tax revenues between FY 20094 0 and FY 20134 4 ean be att-Fibuted to high fuel p6ees, less tfaveling (less flael eensumption by eensumer-s)F and more eaf4_16-4nt ,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 a-peFtion-the full $0.06 of the original local option fuel tax. toe full $0.06, one eounty 1 1 a i4i f the + Community Development Department Indian River County Adopted , Ordinance 2017- 9 P2 56 Figure 6.8: Local Option Fuel Tax Revenue by FY $3,700 $3,600 $3,574 $3,508 $3,500 $3,400 $3,300 $3,200 $3,181 $3,173 $3,145 $3,133 $3,100 $3,000 $2,900 10/11 11/12 12/13 13/14 14/15 15/16 ■Revenue (in thousands) Source: Indian River County Finance Department ➢ 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. 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 591.50% of all funds collected by Indian River County for FY 2014432015/16. Figure 6.8 shows that, between FY 2099492010/11 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. lifnited gas tax revenues between FY 20094 0 and FY 20134 4 ean be att-Fibuted to high fuel p6ees, less tfaveling (less flael eensumption by eensumer-s)F and more eaf4_16-4nt ,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 a-peFtion-the full $0.06 of the original local option fuel tax. toe full $0.06, one eounty 1 1 a i4i f the + Community Development Department Indian River County Adopted , Ordinance 2017- 9 P2 56