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Providing (First Reso.) <br />RESOLUTION NO. 99- 52 <br />4/99(reso/seb11c)VWDC <br />A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR <br />THE SEBASTIAN AREA PHASE 11-C WATER EXPANSION (AN AREA <br />NORTH FROM VOCELLE AVENUE ALONG LAYPORT DRIVE); <br />PROVIDING THE TOTAL ESTIMATED COST, METHOD OF PAYMENT OF <br />ASSESSMENTS, NUMBER OF ANNUAL INSTALLMENTS, AND LEGAL <br />DESCRIPTION OF THE AREA SPECIFICALLY 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 to Phase II -C of the Sebastian Area <br />(located north from Vocelle Avenue along Layport Drive), hereinafter referred to as Project No. <br />UW -97 -12 -DS; <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 525 parcels <br />in an area located north of Vocelle Avenue along Layport Drive, and that the cost thereof <br />shall be specially assessed in accordance with the provisions of Sections 206.01 through <br />206.09 of the Code of Indian River County. <br />2. The total estimated cost to be assessed is $1,256,465.84 or $0.204577 per square foot to <br />be paid 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 or 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 $0.204577 per square foot shall be assessed <br />against each of the properties designated on the assessment plat. This assessment may <br />be raised or lowered by action of the Board of County Commissioners after the public <br />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 <br />not paid in full, the special assessments may be paid in ten equal yearly installments of <br />principal plus interest. If not paid when due, there shall be added a penalty of 1-1/2% of the <br />principal not paid when due. The unpaid balance of the special assessments shall bear <br />interest until paid at a rate to be determined by the Board of County Commissioners when <br />the project is completed. <br />