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9.A.5. PUBLIC HEARING - CONSIDERATION OF 6¢ LOCAL <br />OPTION GAS TAX REVENUE DISTRIBUTION <br />FORMULA - (TOWN OF INDIAN RIVER SHORES; <br />TOWN OF ORCHID; CITY OF FELLSMERE, CITY OF <br />SEBASTIAN; AND CITY OF VERO BEACHI <br />PROOF OF PUBLICATION OF ADVERTISEMENT FOR HEARING IS ON FILE IN THE OFFICE OF THE <br />CLERK TO THE BOARD <br />The Board reviewed a Memorandum of August 14, 2000: <br />TO: James E. Chandler, County Administrator <br />FROM: James W. Davis, P.E., Public Works Director =� <br />SUBJECT: Public Hearing to Consider 64, Local Option Gas <br />Tax (LOGT) Revenue Distribution Formula <br />DATE: August 14, 2000 <br />DESCRIPTION AND CONDITIONS <br />As required by Chapter 209 of the Indian River County Code, the <br />"method of distribution of the local option gas tax revenue <br />shall be reviewed and a public hearing held at least every two <br />years by the Parties to the Agreementp (which include the County <br />and all five municipalities). To accomplish this requirement, <br />staff has contacted the City Managers of all five municipalities <br />for the purpose of collecting gas tax distribution formula data <br />and informing them of the hearing. All municipalities have <br />submitted current formula data. <br />ALTERNATIVES AND ANALYSIS <br />Staff has inserted all recent data into the three parameter LOGT <br />formula. (see attached chart) Distribution percentages change <br />slightly. <br />AUGUST 22, 2000 <br />-68- 0 <br />