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approved the preliminary assessment roll, the <br />interest to be 10 over the Prime Rate at the <br />time the final assessment roll is approved; <br />allocated $32,387.25 from the Petition Paving <br />Account for this work; and notified the Road <br />and Bridge Department to schedule construction. <br />RESOLUTION NO. 85-57 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, PROVIDING FOR CERTAIN PAVING <br />AND DRAINAGE IMPROVEMENT TO 18TH COURT <br />BETWEEN 6TH AND 8TH STREETS; PROVIDING <br />THE TOTAL ESTIMATED COST, METHOD OF <br />PAYMENT OF ASSESSMENTS, NUMBER OF ANNUAL <br />INSTALLMENTS, AND LEGAL DESCRIPTION OF <br />THE AREA SPECIALLY BENEFITED. <br />WHEREAS, the County Public works Department has received <br />a public improvement petition, signed by more than 2/3 of the owners of <br />property in the area to be specially benefited, requesting paving and <br />drainage improvements to 18th Court between 6th and 8th Streets; and <br />WHEREAS, the petition has been verified and meets the <br />requirements of Ordinance 81-27, and design work including cost esti- <br />mates has been ccopleted by the Public Works Division; and <br />WHEREAS, the total estimated cost of the proposed im- <br />provements is 32,387.25; and <br />WHEREAS, the special assessment'provided hereunder shall, <br />for any given record owner of property within the area specially bene- <br />fited, be in an amount equal to that proportion of seventy-five percent <br />(75%) of the total cost of the project which the number of lineal feet <br />of road frontage owned by the given owner bears to the total number of <br />lineal feet of road frontage within the area specially benefited, and <br />shall become due and payable at the Office of the Tax Collector of <br />Indian River County ninety (90) days after the final determination of <br />the special assessment pursuant to Ordinance 81-27; and <br />WHEREAS, Indian River County shall pay the remaining <br />twenty-five percent(25%) of the total cost of the project; and <br />WHEREAS, any special assessment not paid, within said <br />ninety (90) day period shall bear interest beyond the due date at a rate <br />established by the Board of County Commissioners at the time of prepar- <br />ation of the final assessment roll, and shall be payable in two (2) <br />equal installments, the first to be made twelve (12) months from the <br />due date and the second to be made twenty-four(24) months from the due <br />date; and <br />65 <br />JUN 5 1985 <br />BOOK FGE 106 <br />