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Fort Walton Beach Resolution — 55-19--Sewer Lines, Elliots Point, 7th and 7th — reading text
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t"'~ RESOLUTION NO.
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A RESOLUTION ACCEPTING THE SEWER LINES
CONSTRUCTED BY SEA BREEZE HOMES, INC.
11 THE 7THAMD8TH ADDITIONS TO ELLIOTT' S
P<7JINT SUBDIVISION IN FORT WALTON BEACH,
FLORIDA AT A COST TO THE CITY OF $ 32, 998. 2$,
AI1D ARRANGlNG FOR PAYING, FOR SAME OVER A
PERIOD OF YEARS AT THE RATE OF $ 1, 000. 00
PER ANNUM AT AN INTEREST RATE OF 4S PER
ANJfW, AND ALLOWING UNTO THE CITY PREPAY-
MENT PRIVILEGE WITHOUT PENALTY , AND ALLOW.:.
ING UNTO THE CITY A CREDIT. OF $ 115. 00 FOR
EACH SEWE'1trWNNECTION IN THE FUTURE IN 7TH
AND 8TH Ar>DITIONS TO ELLIOTT' S POINT SUB-
DIVISION IN FORT WALTON BEACH, FLORIDA. "'"
Whereas, Sea:. Breaze Homes, Inc. has made certain sewer extensions
in the 7th and 8th Additions to Elliott' s point in Fort Walton Beach,
Florida at a cost. o!'$ 6l , 256. 01 resul t'
fnti in' 173 recent customers to
the system, and
Whereas, the City Engineer for the City of Fort Walton Beach
has inspect~d said system and certifies that it conforms wi.th the
of the City of Fort Walton Beach and has been con-
requirements
structed in a workmanlike manner and recommends its acceptance, and
Whereas, the said Sea Breeze Homes, Inc. has agreed to turn
over said system to the city at cost plus allowing a credit of
115. 00 per unit for 173 units in lieu of septic tanks and at a
credi t of $ 31. 50 per un! t- for 223 uni is which are or wi 11 be
receiving services thereon, and
Whereas, the said Sea Breeze Homes, Inc. has agreed to finance
the amount due by the city for a period of ~ 9 years at 4~ interest
annum, allowing the city the of prepayment without
per
privilege..
penalty, and to give further credit of $ 115. 00 per unit on another
con temp 1 at ed" ,~() .~~?"~ ~ and
St'
Whereas, the city will actually receive a system worth
61, 2$ 6. 01 and 173 actual additioaa1 customers for $ 32, 998.. 51 with
a potenticll re, bat.e of $ 5, 750. 00.
NOW, tH~RE1f-6RE" be it resolved by the City Council of the City
of Fort wafton Beach, Florida,
That the above system shall be accepted ' forthwith at an overall
cost from Sea Breeze Homes, Inc. at a cost of $ 32, 998. 51, payable
at the rate of $ 1, OOO' per year p11l. Interest at 4" payable semi-
annually, allowIng unto the City the privilege of pre- payment of
principal plus then accumulated interest at any time during terms