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RESOLUTION NO. 82- 135 j <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR <br />CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO <br />48TH AVENUE, BETWEEN 8TH AND 10TH STREETS; <br />PROVIDING THE TOTAL ESTIMATED COST, METHOD OF <br />PAYMENT OF ASSESSMENTS, NUMBER OF ANNUAL <br />INSTALLMENTS, AND LEGAL DESCRIPTION OF THE AREA <br />SPECIALLY BENEFITED. <br />WHEREAS, the County Public Works Department has received <br />a public improvement petition, signed by more than 2/3 of the <br />owners of property in the area to be specially benefited, request- <br />ing paving and drainage improvements to 48th Avenue, between 8th <br />Street and 10th Street; and <br />WHEREAS, the petition has been verified and meets the <br />requirements of Ordinance 81-27, and design work including cost <br />estimates has been completed by the Public Works Department; and <br />WHEREAS, the total estimated cost of the proposed <br />improvements is $28,804.00; and <br />WHEREAS, the special assessment provided hereunder shall <br />for any given record owner of property within the area specially <br />benefited, be in an amount equal to that proportion of seventy- <br />five percent (758) of the total cost of the project which the <br />number of lineal feet of road frontage owned by the given owner <br />bears to the total number of lineal feet of road frontage within <br />the area specially benefited, and shall become due and payable at <br />the Office of the Tax Collector of Indian River County ninety (90) <br />days after the final determination of the special assessment <br />pursuant to Ordinance 81-27; and <br />WHEREAS, Indian River County shall pay the remaining <br />twenty-five percent (25%) of the total cost of the project; and <br />WHEREAS, any special assessment not paid within said <br />ninety (90) day period shall bear interest beyond the due date at <br />a rate established by the Board of County Commissioners at the <br />time of preparation of the final assessment roll, and shall be <br />payable in two (2) equal installments, the first to be made twelve <br />(12) months from the due date and the second to be made twenty- <br />four (24) months from the due date; and <br />WHEREAS, after examination of the nature and anticipated <br />-1- <br />