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The Board reviewed a Memorandum of October 20, 1998: <br />TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E., <br />Public Works Director <br />SUBJECT: Public Hearing to Consider 6C Local Option Gas Tax (LOGT) <br />Revenue Distribution Formula <br />DATE: October 20, 1998 <br />As required by Chapter 209 of the Indian River County Code, the <br />"method of distribution of the local option gas tax revenue shall <br />be reviewed and a public hearing held at least every two years by <br />the Parties to the Agreement" (which include the County and all five <br />municipalities). To accomplish this requirement, staff has <br />contacted the City Managers of all five municipalities for the <br />purpose of collecting gas tax distribution formula data and <br />informing them of the hearing. All municipalities have submitted <br />current formula data. <br />Staff has inserted all recent data into the three parameter LOGT <br />formula (see attached chart) Distribution percentages change <br />slightly. <br />Unless contrary input is received at the Public Hearing, staff <br />recommends that the Board retain the current LOGT distribution <br />formula and the new distribution percentages as shown on the 1998 <br />LOGT chart be sent to the state for FY99/00 Fiscal Year. <br />OCTOBER 27, 1998 <br />-31- <br />BOOK <br />