§ 3-103. Collection and remittance.

(a)

All customer facility charges collected by a rental car operator and/or its agents are, and shall be, funds held in trust by or for said rental car operator for the benefit of the county. Said customer facility charges shall be the county's property, and said rental car operator and its agents shall have only a possessory interest in the customer facility charges and shall not have any legal or equitable interest therein.

(b)

The customer facility charges collected by each rental car operator and/or its agents shall be promptly deposited to an interest-bearing account of a federal deposit insurance corporation insured bank or financial institution and the same shall be due and payable as set forth herein to the county in the currency of the United States of America. The CFC revenue ("CFCs plus interest on CFCs deposits") in such account on the last calendar day of each month shall be remitted to the county by check on a bank insured by the Federal Deposit Insurance Corporation and at the office of the airports director or, if said rental car operator is so notified by the county, shall be remitted by electronic transfer to the county's authorized depository financial institution. Such remittance shall be made no later than the 15 ^th calendar day following the end of said month.

(c)

The account to which each rental car operator deposits the customer facility charges shall not be subject to any lien, pledge or hypothecation as a result of any credit or security instrument entered into by said rental car operator. Each rental car operator shall segregate, separately account for, and disclose all customer facility charges as trust funds in their financial statements; provided, however, that the failure to do so shall not alter or eliminate their status as trust funds.

(d)

Each rental car operator shall maintain such accounting records and accounting controls over the collection, deposit, safekeeping, and remittance of said customer facility charges as are required by the terms of its agreements with the county, as then in effect, or if not so specified therein, as specified by the airports director pursuant to sections 3-105 and 3-106 of this article, and all of said records and controls shall be subject to inspection and audit at all times by the county and its representatives as provided for by the agreements and/or section 3-106 of this article. Unless otherwise established pursuant to section 3-106 of this article, the inspection and audit provisions contained in the agreements shall apply to each rental car operator's obligations with respect to customer facility charges under this article.

(e)

Each rental car operator shall be obligated to remit to the county all customer facility charges imposed on its customers pursuant to this article, whether or not they are actually collected from its customers. Any amount not remitted by a rental car operator to the county when due under this article shall bear interest at the highest legal rate allowed under Florida law, and the costs of collection and attorneys fees, if any, incurred by the county in obtaining or attempting to obtain payment, plus an administrative fee of $250.00 per each late or incorrect remittance, shall forthwith be paid by such rental car operator to the county.

(Ord. No. 10-16, § 3, 11-16-10)