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Providing(First Reso.) 3/01(reso/wus1seb)Bk/DC <br /> RESOLUTION NO. 2001- 037 <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR WATER <br /> EXPANSION ON THE WEST SIDE OF U.S. HIGHWAY ONE (BETWEEN <br /> THE WAL-MART SUPERCENTER AND COUNTY ROAD 512) IN THE CITY <br /> OF SEBASTIAN, FLORIDA; PROVIDING THE TOTAL ESTIMATED COST, <br /> METHOD OF PAYMENT OF ASSESSMENTS, NUMBER OF ANNUAL <br /> INSTALLMENTS, AND DESCRIPTION OF THE AREA TO BE SERVED. <br /> WHEREAS, the Board of County Commissioners of Indian River County has determined <br /> that the improvements herein described are necessary to promote the public welfare of the <br /> county and has determined to defray the cost thereof by special assessments against certain <br /> properties to be serviced by a water main extension on the west side of U.S. Highway One <br /> (between the Wal-Mart Supercenter and County Road 512) in the City of Sebastian, <br /> Florida, <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: <br /> 1. The County does hereby determine that a water line shall be installed to benefit 97 <br /> properties on the west side of U.S. Highway One, between the Wal-Mart Supercenter and <br /> County Road 512 in the City of Sebastian, Florida, and that the cost thereof shall be <br /> specially assessed in accordance with the provisions of Sections 206.01 through 206.09 of <br /> The Code of Indian River County. <br /> 2. The total estimated cost to be assessed is $677,406 (rounded) or $0.352168 (rounded) per <br /> square foot to be paid by the property specially benefited as shown on the assessment plat <br /> on file with the Department of Utility Services. Assessments are to be levied against all lots <br /> and lands adjoining and contiguous or bounding and abutting upon the improvements or <br /> specially benefited thereby and further designated by the assessment plat with respect to the <br /> special assessments. <br /> 3. A special assessment in the amount of $0.352168 (rounded) per square foot shall be <br /> assessed against each of the properties designated on the assessment plat. This <br /> assessment may be raised or lowered by action of the Board of County Commissioners after <br /> the public hearing, at the same meeting, as required by the referenced County Code. <br /> 4. The special assessments shall be due and payable and may be paid in full within 90 days <br /> after the date of the resolution of the Board with respect to credits against the special <br /> assessments after completion of the improvements (the "Credit Date") without interest. If not <br /> paid in full, the special assessments may be paid in ten equal yearly installments of principal <br /> plus interest. If not paid when due, there shall be added a penalty of 1-1/2% of the principal <br /> not paid when due. The unpaid balance of the special assessments shall bear interest until <br /> paid at a rate to be determined by the Board of County Commissioners when the project is <br /> completed. <br /> 5. There is presently on file with the Department of Utility Services a plat showing the area to <br /> be assessed, plans and specifications, and an estimate of the cost of the proposed <br /> improvements. All of these are open to inspection by the public at the Department of Utility <br /> Services. <br />