24-3426 Interlocal Agreement Relating to the Fourth Generation One Cent Local Government Infrastructure Surtax

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THE CITY OF WINTER SPRINGS, a Florida municipal corporation, whose address is 1 126 East State Road 434, Winter Springs, Florida 32708. COUNTY, SCHOOL BOARD, AND MUNICIPALITIES may be referred to in the singular "party" or in the plural "parties". WITNESSETH: WHEREAS, under the authority of section 212.055(2), Florida Statutes (2023), COUNTY intends to adopt an ordinance (hereinafter referred to as "Surtax Ordinance") imposing a one percent (1.0%, i.e., l ¢) local government infrastructure sales surtax (hereinafter referred to as "the Surtax") on taxable transactions occurring in Seminole County subject to approval by a majority of electors voting in a referendum to be held during the general election on November 5, 2024 (hereinafter referred to as "2024 Referendum"); and WHEREAS, in accordance with section 212.055(2)(c), Florida Statutes (2023), and in anticipation of the enactment of the Surtax Ordinance, COUNTY, SCHOOL BOARD, AND MUNICIPALITIES have collectively agreed on the allocation and use of the Surtax, as outlined in this Agreement, which will significantly benefit the citizens of Seminole County and enhance the infrastructure of the Seminole County school system, public transportation, pedestrian access and mobility facilities, trails, stormwater management facilities, and other legally authorized infrastructure throughout the COUNTY and MUNICIPALITIES. NOW THEREFORE, in consideration of the promises, covenants, and commitments in this Agreement, the receipt and adequacy of which are hereby acknowledged by all parties to this Agreement, the parties agree to provide for the distribution of the revenues derived from the Surtax authorized by the 2024 Referendum as follows: Seminole County Infrastructure Sales Surtax 2024 Interlocal Agreement Page 2