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NOW, THEREFORE, BE <br />IT RESOLVED BY <br />THE BOARD <br />OF COUNTY <br />COMMISSIONERS OF INDIAN <br />RIVER COUNTY, <br />FLORIDA, as <br />follows: <br />1. The County does hereby determine that a waterline shall be <br />installed to serve 13 properties, which are located along Charlotte <br />Avenue (62nd Drive), and the cost thereof shall be specially <br />assessed in accordance with the provisions of Sections 11-41 <br />through 11-47 of the Code of Laws and Ordinances of Indian River <br />County. <br />2. The total estimated project assessment cost of the above-described <br />improvements is shown to be $0.07652476678 per square foot to be <br />paid by the property specially benefited as shown on the <br />assessment plat on file with the Department of Utility Services. <br />3. A special assessment in the amount of $0.07652476678 per square <br />foot shall be assessed against each of the properties designated on <br />the assessment plat. This assessment may be raised or lowered by <br />action of the Board of County Commissioners after the public <br />hearing, at the same meeting, as required by the referenced <br />County Code. <br />4. The special assessments shall be due and payable and may be paid <br />in full within 90 days after the date of the resolution of the Board <br />= with respect to credits against the special assessments after <br />completion of the improvements (the "Credit Date") without <br />interest. <br />If not paid in full, the special assessments may be paid in ten <br />equal _yearly installments of principal plus interest._ If not paid <br />when -due, there shall be added a penalty of 1-1/2% of the <br />principal . not paid when due. The unpaid balance of the special <br />assessments shall bear interest at a rate of 9-3/4% from the Credit <br />Date until paid. <br />29 <br />MAR 2 4 1992 <br />