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EA • to RESOLUTION NO. 85- 31 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR CERTAIN PAVING AND DRAINAGE IMPROVEMENTS TO 7TH COURT S.W., BE AMEN 3RD STREET S.W. and 4TH PLACE S.W.; PROVIDING THE TOTAL ESTIMATED COST, METHOD OF PAYMENT OF ASSESSMENTS, NLbIDER OF ANNUAL INSTALL - MMM, AND LEGAL DESCRIPTION OF THE AREA SPECIALLY BENEFITED. WHEREAS, the County Public Works Department has received a public improvement petition, signed by more than 2/3 of the owners of property in the area to be specially benefited, requesting paving and drainage improvements to 7th Court S.W., between 3rd Street S.W. and 4th Place S.W.; and WHEREAS, the petition has been verified and meets the requirements of Ordinance 81-27, and design work including cost esti- mates has been capleted by the Public Warks Division; and WHEREAS, the total estimated cost of the proposed im- provcfnents is $18,042.00; and WHEREAS, the special assessment provided hereunder shall, for any given record owner of property within the area specially bene- fited, be in an amount equal to that proportion of seventy-five percent (75%) of the total cost of the project which the number of lineal feet of assessable road frontage owned by the given owner bears to the total number of lineal feet of assessable road frontage within the area specially benefited, all as established in the preliminary assessment roll and shall become due and payable at the Office of the Tax Collector of Indian River County ninety (90) days after the final determinacion of the special assessment pursuant to Ordinance 81-27; 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 two (2) equal installments, the first to be made twelve (12) months from the due date and the second to be made twenty-four(24) months from the due date; 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: