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RESOLUTION NO. 95-124 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: 1. The County does hereby determine that a water line shall be installed to benefit 16 lots in Miraflores Unit Two Subdivision, and the cost thereof shall be specially assessed in accordance with the provisions of Sections 206.01 through 206.09 of the Code of Indian River County. 2. The total estimated project assessment cost of the above-described improvements is shown to be $38,022.08 or $0.1091083 per square foot to be paid by the property specially benefited as shown on the assessment plat on file with the Department of Utility Services. 3. A special assessment in the amount of $0.1091083 -per square foot shall be assessed against each of the properties designated on the assessment plat. This assessment may be raised or lowered by action of the Board of County Commissioners after the public hearing, at the same meeting, as required by the referenced County Code. 4. The special assessments shall be due and payable and may be paid in full within 90 days after the date of the 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 1-1J2% of the principal not paid when due. The unpaid balance of the special assessments shall bear interest at a rate of 8.5% from the Credit Date until paid. 5. There is presently on file with the Department of Utility Services a plat showing the area to be assessed, plans and specifications, 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. 77 September 19, 1995 BOOK 96 PAGF 172 2