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Comprehensive Plan Capital Improvements Element <br /> (6) Pledge the revenues to secure and liquidate revenue bonds issued by the county, <br /> subject to certain limitations. <br /> Figure 6. 7 shows the Tourist Development Tax revenue received by Indian River County over the <br /> last six fiscal years . Over that time period, tourist tax revenue received by Indian River County <br /> fluctuated based on market conditions, but had an overall increase of 24750.45%. <br /> • Local Option Fuel Tax <br /> Figure 6. 8: Local Option Fuel Tax <br /> Local governments are authorized to levy Revenue <br /> up to twelve cents of local option fuel taxes <br /> in the form of three separate levies . These $4,000 $3,609 <br /> levies are : $3, 500 _ _ _ _ $3,924 $3.367 <br /> ➢ a one to six cent local $3.059 <br /> option fuel tax ; <br /> 000 $2,862 E2,906 <br /> ➢ a one to five cent local $2,500 - <br /> option fuel tax; and $2,000 — <br /> ➢ a ninth cent fuel tax . $1 , 500 - <br /> Indian River County currently imposes the ! $1 , 000 <br /> $500 <br /> full six cents of the one to six cent fuel tax. <br /> This tax applies to every net gallon of $_ <br /> motor and diesel fuel sold within a county. 2000 2001 2002 2003 2004 2005 <br /> The one to six cent fuel tax may be ® Revenue (in thousands) <br /> authorized by an ordinance adopted by a <br /> majority vote of the governing body or Source: Indian River County Finance Department <br /> voter approval in a county-wide <br /> referendum . Generally, the proceeds may be used to fund transportation expenditures . <br /> Table 6. 1 shows that local option fuel tax revenue represented 4-. 6-5l . ' 3 % of all funds collected by <br /> Indian River County for FY 20034/045 . Figure 6 . 8 shows that local option fuel tax revenue for the <br /> county has increased overall by 44 . 5917_65 % over the last six fiscal years, with a significant increase <br /> occurring in FY 2001 /2002 , and then a moderation in FY 2002/2003 . That large increase in FY <br /> 2001 /2002 shown in Figure 6. 8 can be attributed to a delay in the county distributing funds to the <br /> municipalities. Because of a dispute over allocations, money from the prior fiscal year was held until <br /> the dispute was resolved. <br /> All sixty- seven Florida counties levy a portion of the original local option fuel tax. Sixty-fie five <br /> counties levy the full $0 . 06, while the remaining tlireetvo counties levy a portion of the tax . <br /> Community Development Department Indian River County <br /> 9 <br />