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Comprehensive Plan Capital Improvements Element (6) 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 . Over that time period, tourist tax revenue received by Indian River County fluctuated based on market conditions, but had an overall increase of 24750.45%. • Local Option Fuel Tax Figure 6. 8: Local Option Fuel Tax Local governments are authorized to levy Revenue up to twelve cents of local option fuel taxes in the form of three separate levies . These $4,000 $3,609 levies are : $3, 500 _ _ _ _ $3,924 $3.367 ➢ a one to six cent local $3.059 option fuel tax ; 000 $2,862 E2,906 ➢ a one to five cent local $2,500 - option fuel tax; and $2,000 — ➢ a ninth cent fuel tax . $1 , 500 - Indian River County currently imposes the ! $1 , 000 $500 full six cents of the one to six cent fuel tax. This tax applies to every net gallon of $_ motor and diesel fuel sold within a county. 2000 2001 2002 2003 2004 2005 The one to six cent fuel tax may be ® Revenue (in thousands) authorized by an ordinance adopted by a majority vote of the governing body or Source: Indian River County Finance Department voter approval in a county-wide referendum . Generally, the proceeds may be used to fund transportation expenditures . Table 6. 1 shows that local option fuel tax revenue represented 4-. 6-5l . ' 3 % of all funds collected by Indian River County for FY 20034/045 . Figure 6 . 8 shows that local option fuel tax revenue for the county has increased overall by 44 . 5917_65 % over the last six fiscal years, with a significant increase occurring in FY 2001 /2002 , and then a moderation in FY 2002/2003 . That large increase in FY 2001 /2002 shown in Figure 6. 8 can be attributed to a delay in the county distributing funds to the municipalities. Because of a dispute over allocations, money from the prior fiscal year was held until the dispute was resolved. All sixty- seven Florida counties levy a portion of the original local option fuel tax. Sixty-fie five counties levy the full $0 . 06, while the remaining tlireetvo counties levy a portion of the tax . Community Development Department Indian River County 9