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RF'sOLUT.ION NO. 85-57 A RESOLD TION OF T11 BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER C("N, 40 FLORIDA, PROVIDING FOR CERTAIN PAVING AND DRAINAGE IMPROVEMENT TO 18TH COURT BETWEEN 6TH AND 8TH STREETS; PROVIDING THE TOTM. ESTIMATED (.Y)ST, METHOD OF pAYMENT OF ASSESSMENTS, NUMBM OF ANNU:A.L INSTALIA9E3M, AND LEGAL DESCRIPTION OF THE AREA SPECIALLY BENEFITED. r 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 i• drainage improvements to 18th Court between 6th and 8th Streets; and WHEREAS, the petition has been verified and meets the requirements of Ordinance 81-27, and design work including cost esti- mates has been completed by the Public Works Division; and WHEREAS, the total estimated cost of the proposed im- provemenus is 32,387.25; and M EREAS, the special assessment provided hereunder shall, for any given record owner of property withir 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 road frontage owned by the given owner bears to the total number of lineal feet of road frontage within the area specially benefited, and 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 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 Comtissioners at the time of prepar- ation of the final assessment roll, and shall be payable in two (2) equal installments, the first to be made twelve (12) months Fran 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 CcMaissioners has determined that the following described properties shall receive a direct and special benefit frau these improvements, to wit: Lots 1 through 8, Block D; Lots 1 through 8, Block A; Lots 1 through 8, Block C; Lots 1 through 8, Block B; Royal Poinciana Park Subdivision Unit 3, as recorded in Plat Book 5 Page 40 of the Public Records of Indian River County, Florida