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• • <br />ON MOTION by Commissioner Ginn, SECONDED BY <br />Commissioner Adams, the Board unanimously adopted <br />Resolution No. 2002-089 providing for water main expansion <br />to Ercildoune Heights Subdivision (west of U.S. Highway #1 <br />and north of the Sebastian River Medical Center), in Indian <br />River County, Florida; providing the total estimated cost, <br />method of payment of assessments, number of annual <br />installments, and description of the area to be served. <br />October 8, 2002 <br />RESOLUTION NO. 2002- 089 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR WATER MAIN <br />EXPANSION TO ERCILDOUNE HEIGHTS SUBDIVISION (WEST OF U.S. <br />HIGHWAY #1 AND NORTH OF THE SEBASTIAN RIVER MEDICAL <br />CENTER), IN INDIAN RIVER COUNTY, FLORIDA; PROVIDING THE TOTAL <br />ESTIMATED COST, METHOD OF PAYMENT OF ASSESSMENTS, <br />NUMBER OF ANNUAL INSTALLMENTS, AND DESCRIPTION OF THE <br />AREA TO BE 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 />specially benefited properties to be serviced by a water main extension to Ercildoune Heights <br />Subdivision (an area located at the northern end of the county west of U.S. Highway #1 and <br />north of the Sebastian River Medical Center), in Indian River County, Florida; <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 62 <br />properties in Ercildoune Heights Subdivision, in Indian River County, Florida, and that <br />the cost thereof shall be specially assessed in accordance with the provisions of <br />Sections 206.01 through 206.09 of The Code of Indian River County. <br />2. The estimated cost for this project is $236,891.57. The estimated cost to be assessed <br />is $0.241948 (rounded) per square foot to be paid by the property specially benefited as <br />shown on the assessment plat on file with the Department of Utility Services. <br />Assessments are to be levied against all lots and lands adjoining and contiguous or <br />bounding and abutting upon the improvements and specially benefited thereby and <br />further designated by the assessment plat with respect to the special assessments. _ <br />3. A special assessment in the amount of $0.241948 (rounded) per square foot shall be <br />assessed against each of the specially benefited properties designated on the <br />assessment plat. This assessment may be raised or lowered by action of the Board of <br />County Commissioners after the public hearing, at the same meeting, as required by the <br />referenced County Code. <br />4. The special assessments shall be due and payable and may be paid in full within 90 <br />days after the date of the resolution of the Board with respect to credits against the <br />special assessments after completion of the improvements (the "Credit Date") without <br />interest. If not paid in full, the special assessments may be paid in ten equal yearly <br />installments of principal plus interest. If not paid when due, there shall be added a <br />penalty of 1-1/2% of the principal not paid when due. The unpaid balance of the special <br />assessments shall bear interest until paid at a rate to be determined by the Board of <br />County Commissioners when the project is completed. <br />45 <br />6 <br />