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BOOK 107 PAGES No. 98- 12 6 County Code, and cost estimates and preliminary assessment rolls have been completed by the Public Works Department; and the total estimated cost of the proposed paving and drainage improvements is FORTY THOUSAND SEVEN HUNDRED FIFTY EIGHT DOLLARS AND EIGHTY THREE CENTS ($40,758.83); and WHEREAS, the special assessment provided hereunder shall, for any given record owner of property within the area specially benefitted, be in an amount equal to that proportion of fifty percent (50%) of the total cost of the project ($20,876.92) 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 areas specially benefitted and fifty percent (50%) of the total cost of the project ($19,881.91) will come from the Developer for Collier Club. Assessments are to be levied against all lots and lands adjoining and contiguous or bounding and abutting upon the improvements or specially benefitted thereby and further designated by the assessment plat with respect to the special assessments; and WHEREAS, the special assessment 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 Section 206.08, Indian River County Code; 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 subsequent payments to be due yearly; 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 improvement, to wit: Lots 3 through 12 in Block 2; and Lots 1 through 7 in Block 3, all shown on a plat of Roseland Gardens filed in Plat Book 8, Page 25 of the Public Records of Indian River County, Florida. Lying in Indian River County, Florida. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: 1. The foregoing recitals are affirmed and ratified in their entirety. 2. A project providing for paving and drainage improvements to Airport Drive adjacent to Collier Club in Sebastian, Florida in Roseland Gardens S/D; heretofore designated as Public Works Project No. 9811 is hereby approved subject to the terms outlined above and all applicable requirements of Chapter 206, et seq. Indian River County Code. November 10, 1998 86