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ORDINANCE NO. 2015- 008 SECTION 2 PURPOSE A. This Municipal Service Benefit Unit is created for the purposes of funding street paving within the boundaries of the unit; funding the acquisition of easements, rights-of- way, or other properties necessary for the required improvements; funding construction and maintenance of those improvements deemed necessary or desirable; and to fund all reasonable expenses and services related to any of the foregoing activities. B. The Municipal Service Benefit Unit may fund all or any of the aforementioned services or improvements through either current year funding, tax anticipation or multi-year notes or bonds, provided any debt instrument or obligation made must be repayable solely from revenues collected by the Municipal Service Benefit Unit pursuant to the authority and means provided by this ordinance. SECTION 3 LEVY OF ASSESSMENT, ADOPTION OF BUDGET The levy of assessment and adoption of budget is in accordance with Section 200.04, of the Indian River County Code. SECTION 4 DISPOSITION OF PROCEEDS FROM LEVY OF TAXES The disposition of proceeds from levy of taxes is in accordance with Section 200.06, of the Indian River County Code. SECTION 5 ADOPTION OF ASSESSMENT ROLL, AMOUNT AND UNIT OF MEASUREMENT The Board hereby adopts the assessment roll attached to this ordinance and incorporated herein; adopts the amount of the assessment as being $415.00 annually for five consecutive years; and adopts the unit of measurement for the assessment as being per lot. SECTION 6 AMENDMENT TO CODE Section 200.11 is hereby amended as follows: Section 200.11 Street paving. An additional service of street paving is added to a portion of Oceanside Replat, which additional service shall sunset after the fifth year of assessment. Sections 200.124--200.30. - Reserved. CODING: Words in strike through format are deletions to existing text; words in underlined format are additions to existing text. 3