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Booz 108 mun 29 The staff of the Department of Utility Services recommends that the Board of County Commissioners approve the adoption of Resolution IV. ON MOTION by Commissioner Adams, SECONDED by Commissioner Ginn, the Board unanimously adopted Resolution 99-001 certifying "as -built" costs for installation of water service to Kingsway Subdivision (35' Street, 36 h Place, 36h Lane, and 57' Avenue, east of 58' Avenue) and such other construction necessitated by such project; providing for formal completion date, and date for payment without penalty and interest. As Built (Final Reso.) 12W(res0mbUflQVk/DC RESOLUTION NO. 99- 01 A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, CERTIFYING "AS -BUILT" COSTS FOR INSTALLATION OF WATER SERVICE TO KINGSWAY SUBDIVISION (35TH STREET, 36TH PLACE, 36TH LANE, AND 57TH AVENUE, EAST OF 58TH AVENUE) AND SUCH OTHER CONSTRUCTION NECESSITATED BY SUCH PROJECT; PROVIDING FOR FORMAL COMPLETION DATE, AND DATE FOR PAYMENT WITHOUT PENALTY AND INTEREST. WHEREAS, the Board of County Commissioners of Indian River County determined that water improvements for properties located within the area of the Kingsway Subdivision are necessary to promote the public welfare of the county; and WHEREAS, on Tuesday, October 28, 1997, the Board held a public hearing at which time and place the owners of property to be assessed appeared before the Board to be heard as to the propriety and advisability of making such improvements; and WHEREAS, after such public hearing was held the County Commission adopted Resolution No. 97-137, which confirmed the special assessment cost of the project to the property specially benefited by the project in the amounts listed in the attachment to that resolution; and WHEREAS, the Director of Utility Services has certified the actual "as -built" cost now that the project has been completed is less than in confirming Resolution No. 97-137, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: 1. Resolution No. 97-137 is modified as follows: The completion date for the referenced project and the last day that payment may be made avoiding interest and penalty charges is ninety days after passage of this resolution. 2. Payments bearing interest at the rate of 7.75% per annum may be made in ten annual installments, the first to be made twelve months from the due date. The due date is ninety days after the passage of this resolution. JANUARY 5, 1999 -22-