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�y <br />2 <br />7 <br />r"+: <br />a <br />gas tax among the COUNTY government and all eligible <br />municipalities within Indian River County; and <br />I <br />WHEREAS, the CITY is a municipality located within <br />Indian River County, Florida and the CITY represents that the <br />CITY is eligible to receive a portion of the local gas tax as <br />i' <br />imposed by the Indian River County Local Option Gas Tax <br />Ordinance, and desires to jointly establish with the COUNTY a <br />distribution formula pursuant to Florida Statutes 336.025(3)(x) I <br />NOW, THEREFORE, in consideration of the mutual terms, <br />i <br />conditions, promises, covenants and premises hereinafter set forth <br />and pursuant to the statutory authority set forth herein, the <br />COUNTY and the CITY agrees as follows: <br />1. The proceeds of the local gas tax shall be divided <br />among and distributed to the COUNTY and the eligible <br />municipalities within the county as follows: <br />RECIPIENT SHARE OF PROCEEDS <br />Indian River County 67.9217% <br />City of Vero reach 16.8350$ <br />City of Sebastian 11.9333% <br />City of Fellsmere 2.0971$ <br />-... <br />Town of Indian River Shores 1.2053% <br />tJ1 <br />.. <br />Town of Orchid 0.0073% <br />2. The division and distribution of tax proceeds as <br />L1 <br />stated in paragraph 1 above shall be based upon the following <br />• :, <br />formula: <br />�y <br />2 <br />7 <br />r"+: <br />a <br />