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SECTION 1. REPEAL OF CHAPTER 206 OF THE INDIAN RIVER COUNTY CODE <br />OF ORDINANCES. <br />(A) Chapter 206 of the Indian River County Code of Ordinances, entitled "Special <br />Assessments," is hereby repealed in its entirety. <br />(B) Any special assessments imposed pursuant to the existing Chapter 206 of the <br />Indian River County Code of Ordinances being repealed herein that remain outstanding <br />shall remain due and payable. Any funds collected pursuant to an assessment program <br />implemented under Chapter 206 of the Indian River County Code of Ordinances being <br />repealed herein that have not yet been expended shall be expended in accordance with the <br />procedures in effect at the time of their collection. <br />SECTION 2. ADOPTION OF MASTER CAPITAL AND SERVICE ASSESSMENT <br />ORDINANCE. A new Master Capital and Service Assessment Ordinance is hereby <br />adopted as a new Chapter 206 of the Indian River County Code of Ordinances, which shall <br />read as follows: <br />CHAPTER 206. — SPECIAL ASSESSMENTS <br />PART I. — GENERAL PROVISIONS <br />Section 206.01. - Definitions. As used in this Ordinance, the following <br />words and terms shall have the following meanings, unless the context <br />clearly otherwise requires: <br />"Annual Rate Resolution" means the resolution described in Sections <br />206.22 and 206.37 hereof, approving an Assessment Roll for a specific <br />Fiscal Year. <br />"Assessed Property" means all parcels of land included on the Assessment <br />Roll that receive a special benefit from the delivery of the service, facility or <br />program or provision of a Local Improvement identified in the Initial <br />Assessment Resolution. <br />2 <br />