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Providing (First Reso.) I2Vn».. )Vk/na RESOLUTION NO. 96- 24 A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR SEWER SERVICE TO 129TH STREET BETWEEN OLD DIXIE HIGHWAY AND RIVERSIDE DRIVE) PROVIDING THE TOTAL ESTI- MATED COST, METHOD OF PAYMENT OF ASSESSMENTS, NUMBER OF ANNUAL INSTALLMENTS, AND LEGAL DESCRIPTION OF THE AREA SPECIFICALLY SERVED. WHEREAS, the Board of County Commissioners of Indian River County has determined that the improvements herein described are necessary to promote the public welfare of the county and has determined to defray the cost thereof by special assessments against certain properties to be serviced by a sewer extension to 129th Street, between Old Dixie Highway and Riverside Drive, hereinafter referred to as Project No. US -95 -08 -DS; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONER$ OF INDIAN RIVER COUNTY, FLORIDA, as follows: 1. The County does hereby determine that a sewer line shall be installed to benefit 13 properties within a portion of Indian River Acres Subdivision, and that the cost thereof shall be specially assessed in accordance with the provisions of Sections 206.01 through 206.09 of the Code of Indian River County. 2. The total estimated project assessment cost of the above-described improvements is shown to be $26,810.10 or $0.226780 per square foot to be paid by the property specially benefited as shown on the assessr.lent plat on file with the Department of Utility Services. 3. A special assessment in the amount of $0.226780 per square foot shall be assessed against each of the properties designated on the assessment plat. This assessment may be raised or lowered by action of the Board of County Commissioners after the public hearing, at the same meeting, as required by the referenced County Code. 4. The special assessments shall be due and payable and may be paid in full within 90 days after the date of the resolution of the Board with respect to credits against the special assessments after completion of the improvements (the "Credit Date") without interest. If not paid in full, the special assessments may be paid in ten equal yearly installments of principal plus interest. If not paid when due, there shall be added a penalty of 1-1/2e of the principal not paid when due. The unpaid balance of the special assessments shall bear interest until paid at 8-1/28. (page one of two)