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A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR CERTAIN <br />PAVING AND DRAINAGE IMPROVEMENTS TO 79TH STREET <br />BETWEEN 101ST AVENUE AND 91ST AVENUE IN VERO LAKE <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 petitioned for Road <br />Paving and Drainage Improvement for 79th Street between 101 st Avenue and 91 st Avenue in Vero <br />Lake Estates Subdivision, in cooperation with the Vero Lake Estates Property Owners Association. <br />WHEREAS, the construction of paving and drainage improvements by special <br />assessment funding is authorized by Chapter 206, Section 206.01 through 206.09, Indian River <br />County Code; and cost estimates and preliminary assessment rolls have been completed by the <br />Public Works Department; and the total estimated cost of the proposed paving and drainage <br />improvements is THREE HUNDRED TWENTY EIGHT THOUSAND ONE HUNDRED <br />TWENTY SIX DOLLARS AND ONE CENT ($328,126.01); and <br />WHEREAS, the special assessment provided hereunder shall, for any given record <br />owner of property within the area specially benefited, be assessed to the owner at the rate of $2.00 <br />per front foot. The amount to be assessed under the Special Assessment is $20,554.26 which is <br />approximately 6010 of the total estimated cost of the project and the balance of $307,571.75 shall <br />come from other revenue sources; and <br />WHEREAS, the special assessment shall become due and payable at the Office of <br />the Tax Collector of Indian River County ninety (90) days after the final determination of the special <br />assessment pursuant to Section 206.08, Indian River County Code; and <br />WHEREAS, any special assessment not paid within said ninety (90) day period shall <br />bear interest beyond the due date at a rate established by the Board of County Coâ–ºmnissioners at the <br />time of preparation of the final assessment roll, and shall be payable in two (2) equal instalhments, <br />the first to be made twelve (12) months from the due date and subsequent payments to be due yearly; <br />and <br />