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Providing (First Reso.) 2/20/91(ENG)RESI.MAG\gfk <br />RESOLUTION NO. 92-14 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR <br />CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO 11TH <br />STREET S.W., 11TH PLACE, S.W., AND MADRID AVENUE IN <br />GRANADA GARDENS SUBDIVISION, PROVIDING THE TOTAL <br />ESTIMATED COST, METHOD OF PAYMENT OF ASSESSMENTS, <br />NUMBER OF ANNUAL INSTALLMENTS, AND LEGAL <br />DESCRIPTION OF THE AREA SPECIFICALLY BENEFITTED. <br />WHEREAS, in accordance with Indian River County Code <br />(Prior Code Chapter 23.3, New Code Chapter 952.09), providing for <br />the paving and drainage improvements to public roads thru a special <br />assessment process, and whereas monies have been escrowed by an <br />existing property owner in an area to be benefited, in accordance <br />with the requirements of Code Chapter 23.3, and whereas on May 28, <br />1986 at the regular meeting of the Board of County Commissioners, <br />the Board directed staff to prepare an involuntary assessment for <br />Road Paving and Drainage improvements for 11th Street SW, 11th <br />Place SW and Madrid Avenue in Granada Gardens Subdivision. <br />WHEREAS, the construction of paving and drainage <br />improvements by special assessment funding is further authorized by <br />Section 11-21, 11-22, and 11-41, Indian River County Code of Laws <br />and 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 />ONE HUNDRED AND SIX THOUSAND FOUR HUNDRED TWELVE DOLLARS and <br />NINETY SIX CENTS ($106,412.96); and <br />WHEREAS, the special assessment provided hereunder shall, <br />for any given record owner of property within the area specially <br />benefited, be in an amount equal to that proportion of seventy-five <br />percent (75%) of the total cost of the project _($79,809.72) which <br />the potential number of buildable lots owned by the given owner <br />bears to the total number of parcels within the areas specially <br />benefited and twenty-five percent (25%) of the total cost of the <br />project ($26.603.24) will come from Petition Paving Account; and <br />53 <br />' J A K 2 8.A '1 <br />BOOK ) It I f,?,c 431 <br />