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THE CHAIRMAN CALLED THE QUESTION and the motion <br />carried unanimously. (Retroactive as discussed.) <br />ORDINANCE NO, 2001- 012 <br />AN ORDINANCE OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA AMENDING INDIAN RIVER COUNTY <br />CODE SECTION 209 04 "DISPOSITION OF <br />PROCEEDS", OF CODE CHAPTER 209, "LOCAL <br />OPTION GAS TAX", TO CLARIFY LOCAL <br />GOVERNMENT REPORTING TIMEFRAMES; <br />PROVIDING FOR CODIFICATION; PROVIDING <br />FOR SEVERABILITY; AND PROVIDING FOR AN <br />EFFECTIVE DATE. <br />WHEREAS, Section 336.025, Florida Statutes authorizes the levy of a local <br />option gas tax and <br />WHEREAS, Indian River County adopted an ordinance establishing said tax <br />(Chapter 209, Indian River County Code); and <br />WHEREAS, certain reporting timeframes as set out in Indian River County <br />Code Section 209.04(b) when combined with the Department of Revenue reporting <br />requirements effectively delay the revised distribution of tax proceeds by almost a <br />year <br />NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: <br />SECTION 1, AMENDMENT. <br />Section 209.04 of the Code of Indian River County is hereby amended to read as <br />follows: <br />Section 209.04 Disposition of proceeds. <br />(a) The disposition of proceeds shall be pursuant to interlocal agreement with <br />one or more of the municipalities located therein, representing a majority of <br />the population of the incorporated area within the county. Said agreement <br />shall provide a distribution formula for dividing the entire proceeds of the local <br />option gas tax among the county government and all eligible municipalities <br />within the county. Said formula is set forth in paragraph (b) of this section. <br />The method of distribution of the local option gas tax revenues shall be <br />reviewed and a public hearing held in May at least every two (2) years by the <br />parties to the agreement. <br />(b) Each year, during the term of the imposition of this tax, the division and <br />distribution of tax proceeds under this article shall be evaluated and <br />recalculated based upon the following formula: <br />March 20, 2001 <br />3M I I <br />174 <br />