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Providing (First Resolution) <br />RESOLUTION NO 2012- 007 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR WATER MAIN <br />EXPANSION TO SHADY ACRES SUBDIVISION IN INDIAN RIVER <br />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 <br />determined that the improvements herein described are necessary to promote the public <br />welfare of the county and has determined to defray the cost thereof by special assessments <br />against certain specially benefited properties to be serviced by a water main extension to <br />Shady Acres Subdivision in Indian River 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 in Shady Acres <br />Subdivision in Indian River County, Florida, to specially benefit 6 lots located there <br />("Improvements' ), and that the cost thereof shall be specially assessed in accordance <br />with the provisions of Sections 206.01 through 206.09 of The Code of Indian River <br />County. <br />The estimated cost for the Improvements is $14,899 80 or $0.058665249 per square foot <br />to be paid by the properties specially benefited as shown on the assessment plat on file <br />with the Department of Utility Services Assessments are to be levied against all lots and <br />lands adjoining and contiguous or bounding and abutting upon the Improvements and <br />specially benefited thereby and further designated by the assessment plat with respect to <br />the special assessments <br />3. A special assessment in the amount of $0.058665249 per square foot shall be assessed <br />against each of the specially benefited properties designated on the assessment plat area <br />on file with the Clerk of the County. This special assessment may be raised or lowered by <br />action of the Board of County Commissioners after the public hearing at the same <br />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 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 <br />County Commissioners when the Improvements are completed. <br />t <br />