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I BOOK 108 PAGEa,98 No. 99- 18 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 seventy-five percent (75%) of the total cost of the project ($16,745.82) 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 benefitted plus' two percent (2%) of the property owners assessment for collection fees and twenty-five percent (25%) of the total cost of the project ($5,581.94) will come from Petition Paving Account. 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 Indian River County Utility Services Department 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: Lot 8, Block A, Moreland S/D, Lot 9, Block A, Moreland S/D, Lot 10, Block A, Moreland S/D, Lot 11, Block A, Moreland S/D, Lot 1, Block B, Moreland S/D, Lot 2, Block B, Moreland S/D, Lot 3, Block B, Moreland S/D and Lot 4, Block B, Moreland S/D NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMAUSSIONERS 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 18di Avenue between I° Place & 2nd Street (Moreland S/D); heretofore designated as Public Works Project No. 9606 is hereby approved subject to the terms outlined above and all applicable requirements of Chapter 206, et seq. Indian River County Code. MARCH 2, 1999 —44— n