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RESOLUTION NO. 86- 29 A RESOLUTION OF THE BOARD OF COUNTY CCHMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR CERTAIN PAVING ® AND DRAINAGE IMPROVEMENTS TO 45TH AVENUE FROM 9TH PLACE TO DEAL END; PROVIDING THE TOTAL ESTIMATED COST, METHOD OF PAYMENT OF ASSESS - MUM, NUMBER OF ANNUAL INSTALLMENTS, 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 45th Avenue from 9th Place to Dead End; and WHEREAS, the petition has been verified and meets the requirements of Ordinance 81-27, and design work including cost esti- mates has been conpleted by the Public Works Division; and Wf01IEAS, the total estimated cost of the proposed im- provements is $12,844.47; 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 tnat proportion of seventy-five percent (758) 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 became 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(258) 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 prepar- ation 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 twentv-four(24) months frau the due date; and WHEREAS, after examination of the nature and anticipated usage of the proposed improvements, the Board of County Ccnmissioners has determined that the following described properties shall receive a direct and special benefit from these improvements, to wit: Lots 5 through 9, Block 7, lots 1 through 5, Block 6, Glendale Lakes Subdivision as recorded in PLat Book 6, Page 26 of the Public Records of Indian River County, Florida.