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1. Orange County shall undertake financing of the local share <br /> of paving North Carolina State Road 40919, also known as Clearwater Lake <br /> Road, in Chapel Hill Township, Orange County, North Carolina. <br /> 2. That the basis for assessment for the local share of the <br /> costs of this project shall be frontage abutting the road at an equal <br /> amount per tax parcel. <br /> 3. Orange County will assess the total local share according to <br /> the basis set out in number 2 above which local share represents <br /> approximately twenty-three and two tenths percent (23.2%) of the total <br /> project cost. <br /> 4. No assessments of this project will be held in abeyance. <br /> 5. The assessments shall be paid in the following manner: <br /> a. Within thirty (30) days after the notice of confirmation of <br /> the assessment role is publighed, each owner of the property <br /> may pay his or her assessment in fulL <br /> b. Any assessment not paid in full as provided above shall be <br /> paid in five equal annual installments with the first such <br /> installment, with interest, due sixty (60) days after the <br /> date that the assessment role is confirmed, and the <br /> remaining installments, with interest, due on the same date <br /> in each successive year until the assessment is paid in <br /> full. <br /> IT IS FURTHER RESOLVED AND ORDERED that a public hearing on <br /> all matters covered by this preliminary assessment resolution will be held <br /> on the 18th day of June, 1985, at 7:30 o'clock during the regular <br /> -2- <br />