§ 23-233. Use of proceeds.

(a)

The proceeds from the tax levied in section 23-230 may only be used for transportation expenditures. For the purposes of this article, the term "transportation expenditures" means:

(1)

Public transportation operations and maintenance;

(2)

Roadway and right-of-way maintenance and equipment;

(3)

Roadway and right-of-way drainage;

(4)

Street lighting;

(5)

Traffic signs, traffic engineering, signalization and pavement markings;

(6)

Bridge maintenance and operation; and

(7)

Debt service and current expenditures for transportation capital projects in the foregoing program areas, including construction or reconstruction of roads.

(b)

The revenues from the tax levied in section 23-230 may be pledged to secure the payment of bonds. In the event such bonds are to be issued, the county or the municipalities may use the services of the division of bond finance of general services pursuant to the state bond act to issue any bonds under the provisions of this article and F.S. § 336.025. Bonds may be issued only once per year. The county and any of the municipalities listed in section 23-234 may join together to issue bonds under this article.

(Code 1979, § 2-318; Ord. No. 16-1989, § 4)

State law reference

Use of proceeds, F.S. § 336.025(4).