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1e RESOLUTION NO. 87-66 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO DIXIE HEIGHTS SUBDIVISION, PINEY OAKS SUBDIVISION AND ABUTTING PROPERTY IN THIS AREA. PROVIDING THE TOTAL ESTIMATED COST, METHOD OF PAYMENT OF ASSESSMENTS, NUMBER OF ANNUAL INSTALLMENTS, AND LEGAL DESCRIPTION OF THE AREA SPECIFICALLY BENEFITTED. WHEREAS, on January 8, 1986 the Indian River County Board of County Commissioners instructed the Indian River County Public Works Department to explore the possibility of Implementing a Special Assessment Paving and Drainage Improvement Program for the streets in Dixie Heights Subdivision, Piney Oaks Subdivision and abutting properties In this area; and WHEREAS, the construction of paving and drainage Improvements by special assessment funding is authorized by Section 11-21, 11-22, and 11-41, Indian River County Code of Laws and Ordinances; and cost estimates and preliminary assessment rolls have been completed by the Public Works Department; and the total estimated cost of the proposed paving and drainage improvements is ONE MILLION, NINETEEN THOUSAND, FOUR HUNDRED SIXTY DOLLARS ($1,019,460.00); and WHEREAS, the special assessments provided hereunder, shall, for any given record owner of property within the area specially benefited, be in an amount equal to that proportion of seventy-five percent (75%) of the total cost of the project and computed on the number of potential number of buildable lots which are owned by the given owners In relation to the total number of parcels within the area specially benefited, and WHEREAS, the special assessment shall become due and payable at the Office of the Tax Collector of Indian River County ninety (90) days after the final determination of the special assessment pursuant to Section 11-42, Indian River County Code of Laws and Ordinances; and WHEREAS, Indian River County shall pay the remaining twenty-five percent (25%) of the total cost of the project; and WHEREAS, any special assessment not paid within said ninety (90) day period shall bear interest beyond the due date at a rate established by the Board of County Commissioners at the time of preparation of the final assessment roll, and shall be payable in five (5) equal Installments, the first to be made twelve (12) months from the due date and subsequent payments to be due yearly; and WHEREAS, after examination of the nature and anticipated usage of the proposed improvements, the Board of County Commissioners has determined that the following described properties shall receive a direct and special benefit from these improvements, to wit: ALL OF DIXIE HEIGHTS, UNIT 1 as recorded in Plat Book 4, Page 74 of Indian River County. ALL OF DIXIE HEIGHTS, UNIT 1-A as recorded in Plat Book 4, Page 85 of Indian River County. ALL OF DIXIE HEIGHTS, UNIT 2 as recorded in Plat Book 4, Page 83 of Indian River County.