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RESOLUTION NO. 2008- 075 <br />AN AMENDMENT TO RESOLUTION NO. 2008-029 OF INDIAN RIVER <br />COUNTY THAT CERTIFIED "AS BUILT' COSTS FOR CERTAIN PAVING <br />AND DRAINAGE IMPROVEMENTS TO 31ST AND 32ND AVENUES SW, <br />FROM 10T" STREET SW, TO 13T" STREET SW, DESIGNATED AS <br />COUNTY PROJECT NO. 0420 TO PROVIDE FOR AN AMENDED <br />COMPLETION DATE, AMENDED INTEREST RATE, AND AMENDED DATE <br />FOR PREPAYMENT WITHOUT PENALTY OR INTEREST. <br />LEGISLATIVE FINDINGS. <br />A. Pursuant to Resolution No. 2005-049, duly adopted by the Indian River County <br />Board of County Commissioners on May 3, 2005, following a properly noticed and <br />advertised public hearing, special assessments in the amounts set forth in the assessment <br />roll affixed to Resolution No. 2005-049 were confirmed, ratified, approved, and became <br />liens against the properties specified therein. <br />B. On March 4, 2008, the Board of County Commissioners adopted Resolution No. <br />2008-29 to set forth the payment dates and the interest rates applicable to the special <br />assessment Project No. 0420. <br />C. Thereafter, it was determined that the interest rate and the payment dates set <br />forth in Resolution No. 2008-29 were incorrect and required amendment. <br />D. The Board desires to adopt this Resolution to provide the correct interest rates <br />and payment dates in the form of an amendment to Resolution No. 2008-029. <br />II. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: <br />1. The foregoing Legislative Findings are adopted, affirmed, and ratified in their <br />entirety. <br />2. Resolution No. 2005-049 is modified as follows: The completion date for Project <br />No. 0420 is declared to be June 3, 2008. Payments may be made without interest and <br />penalty charges from June 4, 2008 through and including September 1, 2008. Any <br />payment made on and after September 2, 2008 shall bear interest as set forth in this <br />Resolution. <br />3. If payment in full is not made on or before September 1, 2008, any and all <br />payments made thereafter, and continuing through and including June 2, 2013, shall be <br />made as follows: payments shall bear simple interest at the rate of 5.75% (five and three- <br />quarters percent) and may be made in five (5) equal installments, the first to be made on <br />or before June 3, 2009, and the last to be made on or before June 2, 2013. Any amount of <br />principal, with accrued interest, including payment in full, may be made at any time from <br />September 2, 2008 through and including June 2, 2013. Any payment received after June <br />