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Comprehensive Plan Capital Improvements Element (4) Promote and advertise tourism nationally, internationally, and in the State of Florida; (5) Fund convention bureaus and other tourist information bureaus as county agencies or by contract with the Chamber of Commerce or similar associations in the county; (6) Finance beach park facilities, or beach, channel, estuary, or lagoon improvement, maintenance, renourishment, restoration, and erosion control, including construction of beach groins and shoreline protection, enhancement, cleanup, or restoration or inland lakes and rivers to which there is public access as those uses relate to the physical preservation of the beach, shoreline, channel, estuary, lagoon, or inland lake or river; (7) Pledge the revenues to secure and liquidate revenue bonds issued by the county, subject to certain limitations. Figure 6.7 shows the Tourist Development Tax revenue received by Indian River County over the last six fiscal years. Since FY 2014/15, Tourist Development Tax revenue has increased 19.72%. ➢ 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; ➢ a one to five cent local option fuel tax; and ➢ a ninth cent fuel tax. I Figure 6.8: Local Option Fuel Tax Revenue by FY $3,900 -- $3,800 $3,700 $3,600 $3,500 MENEM $3,400 $3,300 11000 M $3,200 --. 14/15 15/16 16/17 17/18 18/19 19/20 E Revenue (in thousands) Source: Indian River County finance Department I I I 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 the local option fuel tax revenue represented 1.19% of all funds collected by Indian River County for FY 2019/20. Figure 6.8 shows the local option fuel tax revenue received by Indian River County.tSince FY 2014/15 local option fuel tax revenue has decreased by 2.7%. All sixty-seven Florida counties levy the full $0.06 of the original local option fuel tax. Community Development Department Adopted December _ 2021, Ordinance 2021 - Indian River County 9 140