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I� Providing(First Reso.) 7/97(reso/wmeadow)W/DC <br /> RESOLUTION NO. 97- 112 <br /> A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR <br /> WATER SERVICE TO KINGSWAY SUBDIVISION (35TH STREET, 36TH <br /> PLACE, 36TH LANE, AND 57TH AVENUE, EAST OF 58TH AVENUE); <br /> PROVIDING THE TOTAL ESTIMATED COST, METHOD OF PAYMENT OF <br /> ASSESSMENTS, NUMBER OF ANNUAL INSTALLMENTS, AND LEGAL <br /> DESCRIPTION OF THE AREA SPECIFICALLY SERVED. <br /> WHEREAS,the Board of County Commissioners of Indian River County has determined <br /> that the improvements herein described are necessary to promote the public welfare of the <br /> county and has determined to defray the cost thereof by special assessments against certain <br /> properties to be serviced by a water main extension to Kingsway Subdivision (35th Street, 36th <br /> Place, 36th Lane, and 57th Avenue,east of 58th Avenue), hereinafter referred to as Project No. <br /> UW-97-09-DS; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: <br /> 1. The County does hereby determine that a water line shall be installed to benefit 31 lots in <br /> Kingsway Subdivision, and that the cost thereof shall be specially assessed in accordance <br /> with the provisions of Sections 206.01 through 206.09 of the Code of Indian River County. <br /> 2. The total estimated cost to be assessed is$62,975 or$0.095311 per square foot to be paid <br /> by the property specially benefited as shown on the assessment plat on file with the <br /> Department of Utility Services. Assessments are to be levied against all lots and lands <br /> adjoining and contiguous or bounding and abutting upon the improvements or specially <br /> benefited thereby and further designated by the assessment plat with respect to the special <br /> assessments. <br /> 3. A special assessment in the amount of $0.095311 per square foot shall be assessed <br /> against each of the properties designated on the assessment plat. This assessment may <br /> be raised or lowered by action of the Board of County Commissioners after the public <br /> hearing,at the same meeting, as required by the referenced County Code. <br /> 4. The special assessments shall be due and payable and may be paid in full within 90 days <br /> after the date of the resolution of the Board with respect to credits against the special <br /> assessments after completion of the improvements (the "Credit Date") without interest. If <br /> not paid in full, the special assessments may be paid in ten equal yearly installments of <br /> principal plus interest. If not paid when due,there shall be added a penalty of 1-1/2%of the <br /> principal not paid when due. The unpaid balance of the special assessments shall bear <br /> interest until paid at a rate to be determined by the Board of County Commissioners when <br /> the project is completed. <br />