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providing (First Reso.) 11/96(reso/louisian)Vk/Dc <br /> RESOLUTION NO. 96- 162 <br /> A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING <br /> FOR NATER SERVICE TO LOUISIANA AVENUE (MAIN STREET TO <br /> CR#812)► PROVIDING THE TOTAL ESTIMATED COST, METHOD OF <br /> PAYMENT OF ASBESSM=NTS, NUMBER OF ANNUAL INSTALLMENTB, <br /> AND LEGAL DESCRIPTION OF THE AREA SPECIFICALLY SERVED. <br /> W=PZAS, the Board of County Commissioners of Indian River County has <br /> determined that the improvemnts herein described are neaessary to promote <br /> the public welfare of the county and has determined to defray the cost <br /> thereof by special assessments against certain properties to be serviced by a <br /> water main extension to Louisiana Avenue (Main Street to County Road 512), <br /> hereinafter referred to as Project No. UW-96-17-DS; <br /> NOW, THEREFORE, HE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, as follows: <br /> 1. The County does hereby determine that a water line shall be installed to <br /> benefit 55 properties on Louisiana Avenue (Main Street to County Road <br /> 512), and that the cost thereof shall be specially assessed in <br /> accordance with the provisions of Sections 206.01 through 206.09 of the <br /> Code of Indian River County. <br /> 2. The total estimated project assessment cost of the above-described <br /> improvements is shown to be $155,400.10 or $0.107894 per square foot to <br /> be paid by the property specially benefited as shown on the assessment <br /> plat on file with the Department of Utility Services. Assessments are <br /> to be levied against all lots and lands adjoining and contiguous or <br /> bounding and abutting upon the improvements or specially benefited <br /> thereby and further designated by the assessment plat with respect to <br /> the special assessments. <br /> 3. A special assessment in the amount of $0.107894 per square foot shall be <br /> assessed against each of the properties designated on the assessment <br /> plat. This assessment may be raised or lowered by action of the Board <br /> of County Commissioners after the public hearing, at the same meeting, <br /> as required by the referenced County Code. <br /> 4. The special assessments shall be due and payable and may be paid in full <br /> within 90 days after the date of the resolution of the Board with <br /> respect to credits against the special assessments after completion of <br /> the improvements (the "Credit Date") without interest. If not paid in <br /> full, the special assessments may be paid in ten equal yearly <br /> installments of principal plus interest. If not paid when due, there <br /> shall be added a penalty of 1-1/2% of the principal not paid when due. <br /> The unpaid balance of the special assessments shall bear interest until <br /> paid at a rate to be determined by the Board of County Commissioners <br /> when the project is completed. <br />