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ON MOTION by Commissioner Ginn, SECONDED BY <br />Commissioner Adams, the Board unanimously (4-0, Chairman <br />Stanbridge absent) adopted Resolution No. 2002-012 certifying <br />"as -built" costs for installation of water service to the Sebastian <br />area, Phases II -D & II -E, in the City of Sebastian, Florida, and <br />such other construction necessitated by such project; providing <br />for formal completion date, and date for payment without <br />penalty and interest. <br />RESOLUTION NO. 2002- 012 <br />A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, <br />CERTIFYING "AS -BUILT' COSTS FOR INSTALLATION OF <br />WATER SERVICE TO THE SEBASTIAN AREA, PHASES II -D <br />& II -E, IN THE CITY OF SEBASTIAN, FLORIDA, AND SUCH <br />OTHER CONSTRUCTION NECESSITATED BY SUCH <br />PROJECT; PROVIDING FOR FORMAL COMPLETION DATE, <br />AND DATE FOR PAYMENT WITHOUT PENALTY AND <br />INTEREST. <br />WHEREAS, the Board of County Commissioners of Indian River County determined that <br />water improvements for properties located within the area of Phases 11-0 & II -E of the <br />Sebastian Water Expansion Area in the City of Sebastian, Florida are necessary to promote <br />the public welfare of the county; and <br />WHEREAS, on Tuesday, May 2, 2000, the Board held a public hearing at which time <br />and place the owners of property to be assessed appeared before the Board to be heard as to <br />the propriety and advisability of making such improvements and <br />WHEREAS, after such public hearing was held the County Commission adopted <br />Resolution No. 2000-055, which confirmed the special assessment cost of the project to the <br />property specially benefited by the project in the amounts listed in the attachment to that <br />resolution; and <br />WHEREAS, the Director of Utility Services has certified the actual "as -built" cost now <br />that the project has been completed is less than in confirming Resolution No. 2000-055, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: <br />1. Resolution No. 2000-055 is modified as follows: The due date for the referenced project <br />and the last day that payment may be made avoiding interest and penalty charges is ninety <br />days after passage of this resolution. <br />2 Payments bearing interest at the rate of 4.75% per annum may be made in ten annual <br />installments, the first to be made twelve months from the due date. The due date is the <br />date of passage of this resolution. <br />February 12, 2002 <br />56 <br />