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O O O r 0) F RESOLUTION NO. 9t_8 A RESOLUTION OF INDIAN RIVER COUNTY CERTIFYING "AS -BUILT" COSTS FOR CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO 61ST DRIVE (LOW'S SUBDIVISION) DESIGNATED AS PROJECT NO. 8408, AND OTHER CONSTRUCTION NECESSITATED BY SUCH PROJECT; PROVIDING FOR FORMAL COMPLETION DATE, AND DATE FOR PAYMENT WITHOUT PENALTY AND INTEREST. WHEREAS, the Board of County Commissioners of Indian River County determined that the improvements for the property located with boundaries as described in this title, designated as Project No. 8408, where necessary to promote the public welfare of the county; and WHEREAS, on May 3, 1988, the Board held a public hearing at which time and place and the owners of the property to be assessed appeared before the Board to be heard as to the propriety and advisability of making such improvements; and WHEREAS, after such public hearing was held the County Commission adopted Resolution No. 88-32, which confirmed the special assessment cost of the project to the property specially benefitted by the project in the amount listed in an attachment to that resolution; and WHEREAS, the Director of Public Works has certified the actual "as -built" cost now that the project has been completed is $7.50 per front foot, which is less than $11.68 per front foot in the Resolution No. 88-32, NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: 1. Resolution No. 88-32 is modified as follows: The completion date for Project No. 8408 is declared to be January 22, 1991 and the last day that payment may be made avoiding interest and penalty charges is ninety (90) days after passage of this resolution. 2. Payments bearing interest at the rate of 12% per annum may be made in two equal installments, the first to be made twelve (12) months from the due date and the second to be made twenty-four (24) months from the due date. The due date is ninety (90) days after the passage of this resolution.