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APR 111984 <br />BOOK <br />56 <br />FACE 718 <br />estimate cost is $19,600.00. <br />That cost is based on <br />the <br />County coming in, removing the existing surface, and <br />reconstructing a new base and wearing surface. <br />MOTION WAS MADE'by Commissioner Wodtke, <br />SECONDED by Commissioner Lyons, to approve <br />the reconstruction of Apple Way as discussed <br />and authorize staff to proceed with setting <br />up the assessment roll, etc. <br />Mr. Wiggins of Apple Way asked about the possibility of <br />financing the assessment over a two year period. <br />Public Works Director Davis explained that the two year <br />schedule has been used for existing roads the County <br />currently maintains. This is a new circumstance with a <br />private road. <br />In the following discussion, it was further explained <br />that when the County has allowed a two year repayment <br />schedule, we have adopted the current market interest rate; <br />actually, it is preferred that this be handled through the <br />local banks, if possible. <br />Administrator Wright believed we can handle this <br />through our normal petition paving process, except that <br />those assessed will have to pay 100% because it is a private <br />road, and they will have to pay financing costs. <br />Attorney Brandenburg noted that when the assessment <br />roll is adopted, if those assessed can find cheaper <br />financing at a bank, they certainly have that option. <br />Mr. Wiggins assumed that since all the residents on <br />Apple Way own the road, that the cost will be divided evenly <br />among all owners. <br />Chairman Scurlock explained that we have to go through <br />our normal process, but it is agreeable that it will be <br />divided equally. <br />34 <br />