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1 1. <br /> tzAt <br /> , WHEREAS, the CITY is a municipality located within <br /> Indian River County, Florida and the CITY represents that the <br /> I .1;9CITY is eligible to receive a portion of the local gas tax as <br /> 1 ' r imposed by the Indian River County Local Option Gas Tax <br /> �I ', Ordinance, and desires to jointly establish with the COUNTY a <br /> distribution formula pursuant to Florida Statutes 336.025(3)(a)(1). <br /> NOW, THEREFORE, in consideration of the mutual terms, <br /> II a <br /> ate' conditions, promises, covenants and premises hereinafter set forth <br /> 1 f and pursuant to the statutory authority set forth herein, the <br /> 1 <br /> COUNTY and the CITY agrees as follows: <br /> i <br /> i <br /> 11. The proceeds of the local gas tax shall be divided <br /> among and distributed to the COUNTY and the eligible <br /> i, municipalities within the county as follows: <br /> RECIPIENT SHARE OF PROCEEDS <br /> 1 <br /> Indian River County 67.9217% <br /> City of Vero Beach 16.8350% <br /> <.' 0441 City of Sebastian 11.9333% <br /> City of Fellsmere 2.0974% <br /> Ntatiwi <br /> t'ir <br /> E" Town of Indian River Shores 1.2053% <br /> `_ Town of Orchid 0.0073% <br /> 2. The division and distribution of tax proceeds as <br /> g <br /> 4 stated in paragraph 1 above shall be based upon the following <br /> `o ...111.1 <br /> VIOformula: ""` <br /> The percentage of total revenue allocated to each eligible <br /> 1 : entity equals 1/3 of the entity's percentage of total equivalent lane CA? <br /> CD <br /> miles of road plus 1/3 of the entity's percentage of transportation 4r <br /> 043 <br /> Yircll <br /> 2 <br />