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Providing (First Reso.) RESOLUTION NO. 2016-_ 041 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR CERTAIN ASPHALT MILLING IMPROVEMENTS TO 2ND STREET BETWEEN 35TH AVENUE AND 32ND AVENUE IN THE EMERSON PARK SUBDIVISION, PROVIDING THE TOTAL ESTIMATED COST, METHOD OF PAYMENT OF ASSESSMENTS, NUMBER OF ANNUAL INSTALLMENTS, AND LEGAL DESCRIPTION OF THE AREA SPECIFICALLY BENEFITED. WHEREAS, the County Public Works Department has been petitioned for Road Asphalt Milling Improvements for 2"d Street between 35th Avenue and 32nd Avenue in the Emerson Park Subdivision; and WHEREAS, the construction of milling improvements by special assessment funding is authorized by Chapter 206, Section 206.01 through Section 206.09, Indian River County Code; and cost estimates and preliminary assessment rolls have been completed by the Public Works Department; and the total estimated cost of the proposed asphalt millings improvements is SEVENTY-ONE THOUSAND FIVE HUNDRED FIFTY-SIX DOLLARS AND TWELEVE CENTS ($71,556.12); and WHEREAS, the assessment cost based on parcel area (square footage) is the most fair and equitable method for determining the assessment cost; and this method of assessment is agreeable to the property owners in the benefited area; and WHEREAS, the benefiting properties will be assessed for seventy-five percent (75%) of the project's total cost, plus two percent (2%) collection fee. The cost per square foot is $0.253399761. The project's cost is based on the total square footage of the benefiting properties (or assessed properties) and each assessment calculation is based on each property's square footage as it bears to the project's total square footage times seventy-five percent (75%), with the remaining twenty-five percent (25%) of the total cost of the project ($17,889.03) being paid by the County from its Petition Paving Account; and WHEREAS, assessments are to be levied against all lots and lands adjoining and contiguous or bounding and abutting upon the improvements or specially benefited thereby and further designated by the assessment plat with respect to the special assessments; and WHEREAS, any special assessment not paid within a ninety (90) day period from the passage of the as -built or final resolution shall bear interest beyond the due date at a rate established by the Board of County Commissioners when the improvements are completed, and shall be payable in two (2) equal yearly installments, the first to be made twelve (12) months from the due date and subsequent payment to be due by the next year; and