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94 Boor FA 52 .a No. 95- 39 WHEREAS, the construction of paving and drainage improvements by special assessment funding is authorized by Chapter 206, Section 206.01 through 206.09, Indian River County Code; 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 SIXTY-TWO THOUSAND ONE HUNDRED FIFTEEN DOLLARS and FIFTY TWO CENTS ($62,115.52); and WHEREAS, the special assessment provided hereunder shall, for any given recgrd 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 ($46,586.64) which the number of parcels owned by the given owner bears to the total number of parcels within the areas specially benefited and twenty- five percent (25%) of the total cost of the project ($15,528.88) will come from Petition Paving Account;. 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 206.08, Indian River County Code; 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 two (2) 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 improvement, to wit: P:3 March 7, 1995 � � r