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SEP 15 <br />41 <br />BOOK U455 <br />WHEREAS, the special assessment provided hereunder shall be an <br />equal proportion of 100% of the total cost of the project for each <br />given record ownerof property within the specific area benefitted, <br />N and on which a residence is located or could be located; and <br />WHEREAS, the special assessment provided hereunder shall become <br />due and payable at the office of the Division of Utility Services of <br />Indian River County ninety (90) days after the final determination <br />of the special assessment pursuant to Ordinance 81 -27; -and <br />WHEREAS, all special assessments not paid within said ninety <br />(90) day period -shall thereupon become payable in equal <br />installments in each of the succeeding five years with interest <br />established at 12% from the expiration of said ninety (90) days, <br />payable annually; but any assessment becoming so payable in <br />installments may be paid at any time together with interest accrued <br />thereon to date of payment; the balance of assessment shall become <br />due and payable on any transfer of title to said properties; and <br />WHEREAS, after examination of the nature and the anticipated <br />usage of the proposed improvements, the Board of County <br />Commissioners has determined that the following described properties <br />shall receive direct and special benefit from these improvements, to <br />wit: <br />LOTS 11, 12, AND 13 OF <br />GLENDALE LAKE ESTATES <br />SUBDIVISION, BLOCK 2; <br />LOTS 1-6, 12, AND THAT PORTION <br />OF THE PARK ABUTTING LOT f OF <br />GLENDALE LAKE ESTATES <br />SUBDIVISION, BLOCK 4; AND <br />LOTS 11-19 OF GLENDALE LAKE <br />ESTATES SUBDIVISION, BLOCK 5. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: <br />1.. The foregoing recitals are affirmed and satisfied in <br />their entirety. <br />2. A project providing for water improvements with Glendale <br />Lake Estates Subdivision, heretofore designated as Indian River <br />County Utilities Project Number UW87-09DS, is hereby approved <br />subject to the terms outlined above and all applicable requirements <br />of Ordinance 81-27. <br />18 <br />