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RESOLUTION NO. 2017- 063 assessed in accordance with the provisions of Section 206.01 through 206.09 of The Code of Indian River County. 2. The assessment will be based on the number of existing Equivalent Residential Units (ERUs) for developed property; and for vacant property, the number of ERUs will be conservatively calculated based on existing land use designation, zoning and size. 3. The estimated cost for the Improvements is $2,977,931.58 and the specially benefiting parcels/units will be assessed for 38.20% of the cost of the Improvements as shown on the assessment plat on file with the Department of Utility Services and the Clerk to the Board, with 21.80% being funded from a St. Johns River Water Management District Cost Share Grant, 20.00% from the Utility Assessment Fund, and 20.00% from the Optional Sales Tax Contribution. Assessments are to be levied against all lots and lands specially benefited thereby and further designated by the assessment plat with respect to the special assessments. 4. A special assessment per ERU or in the case of vacant property, calculated future ERUs, may be assessed against each of the specially benefited properties designated on the assessment plat on file with the Clerk to the Board. This special assessment may be raised or lowered by action of the Board of County Commissioners serving as the equalizing board at the public hearing, as set forth in Section 206.07 of The Code of Indian River County. 5. The special assessments shall be due and payable and may be paid in full within 90 days after the date of the as -built resolution of the Board with respect to credits against the special assessments after completion of the Improvements (the "Credit Date") without interest. If not paid in full, the special assessments may be paid in ten equal yearly installments of principal plus interest. If not paid when due, there shall be added a penalty of 1-1/2% of the principal not paid when due. The unpaid balance of the special assessments shall bear interest until paid at a rate of two percent (2%) percent per annum. 6. There is presently on file with the Department of Utility Services and the Clerk to the Board an assessment plat showing the area to be assessed, plans and specifications for the Improvements and an estimate of the cost of the proposed Improvements. All of these are open to inspection by the public at the Department of Utility Services and the Clerk to the Board. 7. A proposed preliminary assessment roll with respect to the special assessments is on file with the Department of Utility Services and the Clerk to the Board. Upon the adoption of this resolution, the Department of Utility Services shall cause this resolution (along with a map showing the areas to be served) to be published at least one time in the Indian River Press Journal before the public hearing as required by Section 206.04 of The Code of Indian River County. The resolution was moved for adoption by Commissioner 0 ' Bryan , and the motion was seconded by Commissioner Flescher , and, upon being put to a vote, the vote was as follows: 2