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Providing(First Reso.) 1/3(Westside)Ck <br /> RESOLUTION NO. 2003- 066 <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR WATER MAIN <br /> EXPANSION TO FLORIDA RIDGE SUBDIVISION, LOCATED WEST OF <br /> DIXIE HIGHWAY AND NORTH OF 25TH STREET IN SOUTHEAST INDIAN <br /> RIVER COUNTY, 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 /> specially benefited properties to be serviced by a water main extension to Florida Ridge <br /> Subdivision, located west of Dixie Highway and north of 25th Street in Southeast Indian River <br /> County, 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 specially benefit <br /> 255 platted lots located in Florida Ridge Subdivision, located west of Dixie Highway and <br /> north of 25th Street in Southeast Indian River County, Florida, ("Improvements"), and that <br /> the cost thereof shall be specially assessed in accordance with the provisions of Sections <br /> 206.01 through 206.09 of The Code of Indian River County. <br /> 2. The estimated cost for the project is $579,988.97 or $0.357746 per square foot to be paid <br /> by the property specially benefited as shown on the assessment plat on file with the <br /> Department of Utility Services. Assessments are to be levied against all lots and lands <br /> adjoining and contiguous or bounding and abutting upon the Improvements and specially <br /> benefited thereby and further designated by the assessment plat with respect to the special <br /> assessments. <br /> 3. A special assessment in the amount of $0.357746 per square foot shall be assessed <br /> against each of the specially benefited properties designated on the assessment plat. This <br /> special assessment may be raised or lowered by action of the Board of County <br /> Commissioners after the public hearing, at the same meeting, as required by the referenced <br /> 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 as-built resolution of the Board with respect to credits against the <br /> special assessments after completion of the Improvements (the "Credit Date") without <br /> interest. If not paid in full, the special assessments may be paid in ten equal yearly <br /> installments of principal plus interest. If not paid when due, there shall be added a penalty <br /> of 1-1/2% of the principal not paid when due. The unpaid balance of the special <br /> assessments shall bear interest until paid at a rate to be determined by the Board of County <br /> Commissioners when the project is completed. <br />