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Providing (First Reso.) <br />BOOK Ue� F,�,'E 44,2 <br />2/20/91(ENG)RESI.MAG\gfk <br />RESOLUTION NO. 92- 18 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR <br />CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO A <br />PORTION OF FLORAL PARK SUBDIVISION, AND RANCH <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 BENEFITED. <br />WHEREAS, the County Public Works Department has been <br />petitioned for Road Paving and Drainage Improvements for a portion <br />of Floral Park Subdivision, and Ranch 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 TWENTY ONE THOUSAND SIX HUNDRED NINETY ONE DOLLARS AND <br />EIGHTY-SEVEN CENTS ($221,691.871; 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 (S166.268.90) which <br />the number of square footage owned by the given owner bears to the <br />total number of square footage within the areas specially benefited <br />and twenty-five percent (25%) of the total cost of the project <br />(555,422.97) will come from Petition Paving Account; and <br />WHEREAS, the special assessment shall become due and <br />payable at the Office of the Tax Collector of Indian River County <br />ninety (90) days after the final determination of the special <br />assessment pursuant to Section 11-47, Indian River County Code of <br />Laws and Ordinances; and <br />64 <br />_I <br />