|1||DEPARTMENT MAKING REQUEST||2||MEETING DATE |
|3||REQUESTED MOTION/ACTION |
|Approve an interlocal agreement with the City of Punta Gorda regarding distribution of the five cents local capital gas tax proceeds.|
|4||AGENDA||5||IS THIS ITEM BUDGETED ( IF APPLICABLE ) - |
No action needed.
Financial Impact Summary Statement
No financial impact. The funding split would remain the same as the prior ten years.
Detailed Analysis Attached - False
|6||BACKGROUND ( Why is this Action Necessary, and What Action will be accomplished )|
|Florida Statute 336.025 requires the five cents local capital gas tax be shared with any municipalities within the County per one of two methods. The percentage split can be according to an interlocal agreement or according to a formula identified in the statute. The statutory formula is based on the prior five years of road expenses for the County and the City. This formula if used must be recalculated every ten years. The current split is according to the statutory formula and is due for recalculation this year. The proposed interlocal agreement keeps the percentages the same as they were the past ten years.|