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RECOMMENDATION AND FUNDING <br />It is recommended that motions be made to: <br />1) Adopt the resolution providing for the paving and drainage <br />improvements for the projects subject to the terms outlined in <br />the resolution. The applicable interest rate, shall be 12% at <br />the time the final assessment roll is approved. <br />2) Allocate $18,568.74 from the Petition Paving Account #173-214- <br />541-035.39. <br />3) Adopt a resolution setting the time and place of the Public <br />Hearing. <br />ON MOTION by Commissioner Wheeler, SECONDED ,by <br />Commissioner Eggert, the Board unanimously adopted <br />Resolution 91-83 providing for certain paving and <br />drainage improvements and Resolution 91-84 setting a <br />time and place for public hearing regarding 101st <br />Avenue from 87th Street to CR512 in Vero Lake <br />Estates Subdivision. <br />RESOLUTION NO. 91- 83 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR <br />CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO 101ST <br />AVENUE BETWEEN 87TH STREET AND C.R.512 IN VERO LAKE <br />ESTATES SUBDIVISION, PROVIDING THE TOTAL ESTIMATED <br />COST, METHOD OF PAYMENT OF ASSESSMENTS, NUMBER OF <br />ANNUAL INSTALLMENTS, AND LEGAL DESCRIPTION OF THE <br />AREA SPECIFICALLY BENEFITTED. <br />WHEREAS, the County Public Works Department has initiated <br />a public improvement assessment for Road Paving and Drainage <br />Improvement for 101st Avenue between 87th Street and C.R.512 in <br />Vero Lake Estates Subdivision, <br />WHEREAS, the construction of paving and drainage <br />improvements by special assessment funding is authorized by Section <br />11-21, 11-22, and 11-41, Indian River County Code of Laws and <br />Ordinances; and cost estimates and preliminary assessment rolls <br />have been completed by the Public Works Department; and the total <br />estimated cost of the proposed paving and drainage improvements is <br />TWO HUNDRED AND SIXTEEN THOUSAND FOUR HUNDRED SEVENTY-NINE DOLLARS <br />AND SEVENTY-FOUR CENTS ($216,479.74); and <br />RESOLUTION 91-83, IN ITS ENTIRETY, IS ON FILE IN THE OFFICE OF <br />CLERK TO THE BOARD <br />23 <br />BOOK Fig' <br />I <br />