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(c) SCHOOL BOARD shall receive twenty-five percent (25%) of the Net Revenues <br />collected during the life of the Surtax for use by SCHOOL BOARD on the projects and categories <br />of projects listed in Exhibit A to this Agreement. <br />(d) COUNTY shall receive fifty percent (50%) of the Net Revenues collected during <br />the life of the Surtax for use by COUNTY on the projects and categories of projects listed in <br />Exhibit B to this Agreement. COUNTY and MUNICIPALITIES reserve the right to enter into a <br />separate interlocal agreement setting forth the terms and conditions applicable to the potential co - <br />funded projects listed in Exhibit D and any other projects permitted by law. <br />(e) MUNICIPALITIES shall receive twenty-five percent (25%) of the Net Revenues <br />collected during the life of the Surtax for use by MUNICIPALITIES on the projects and categories <br />of projects listed in Exhibit C to this Agreement. The parties agree the Net Revenues will be <br />distributed to MUNICIPALITIES according to the formula set forth in section 218.62, Florida <br />Statutes (2023), which allocates the monetary shares to each governmental entity based on their <br />population size. The distribution herein relies on the population data from the 2023 BEBR <br />Population Estimates. The allocation of the Net Revenues specified in this section is attached as <br />Exhibit E, the Distribution of Proceeds list, and is incorporated by reference into this Agreement. <br />(f) Under section 212.054(4), Florida Statutes (2023), the Department of Revenue <br />shall distribute the Net Revenues monthly from the Discretionary Sales Surtax Clearing Trust Fund <br />directly to the COUNTY, SCHOOL BOARD, AND MUNICIPALITIES according to their <br />respective shares. These distributions will begin on or around January 1, 2025, and will continue <br />monthly for the duration of this Agreement. <br />Section 4. Project Lists. <br />(a) Each party's list of projects or categories of projects set forth in the Exhibits may <br />only be modified to add or delete projects at a noticed public meeting by the governing body of <br />Seminole County <br />Infrastructure Sales Surtax 2024 Interlocal Agreement <br />Page 4 <br />