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242 WHEREAS, the local improvements proposed to be made on the street or streets, road or roads, or rights of way, hereinabove set out are as follows: ASPHALT PAVING IMPROVEMENTS: That asphalt paving be installed by the North Carolina Department of Transportation on the street or streets, road or roads, or rights of way, hereinabove named within the limits defined; and WHEREAS, if the local improvements are ordered made by the North Carolina Department of Transportation, the County of Cabarrus shall remit to the North Carolina Department of Transportation the proportion of the cost thereof representing the total share as required by policies of the North Carolina Department of Transportation's Secondary Roads Council; and WHEREAS, the County of Cabarrus shall then cause the proportion of the cost thereof to be specially assessed and the terms of payment will be as follows: (a) The cost of not exceeding the local share of cost as required by policies of the North Carolina Department of Transportation's Secondary Roads Council for asphalt paving as lie within the limits of the street or streets, road or roads, or rights of way, hereinabove proposed to be improved, will be assessed against the property abutting on the street or road, or right of way, such cost to be assessed against the lots and tracts of land abutting on the street or streets, road or roads, or rights of way, according to their respective frontages thereon by an equal rate per foot of such frontage, and provided, further, that the maximum amount which shall be assessed for the asphalt paving is $2.00 per foot of the frontage. (b) Terms of payment as specified by the North Carolina Department of Transportation: The assessments will be payable in five equal annual installments, which installments will bear interest at the rate of twelve percent (12%) per annum from the date of confirmation of the assessment roll; provided that any such assessment may be paid in full in cash without the addition of interest within thirty days from the date of publication of the notice of the confirmation of the assessment roll. NOW THEREFORE, BE IT RESOLVED: 1. That a public hearing will be held by the Cabarrus County Board of Commissioners at 10:00 A.M. on the 7th day of March, 1983, in the Commissioners' Room in the Cabarrus County Courthouse, Concord, North Carolina, to determine finally whether the assistance in financing the road improvements shall be made. 2. That all objections to the legality of the making of the improve- ments shall be made in writing, signed in person or by attorney, and filed with the Clerk to the Board at or before the time of the public hearing. Any such objections not so made will be waived. DATED: February 21,~ 1983 ATTEST: Clerk to the Board of County Commissioners /s/ Frankie F. Small BOARD OF COUNTY COMMISSIONERS CABARRUS COUNTY, NORTH CAROLINA BY: /s/ J. Harold Nash CHAIRMAN OF THE BOARD Approved as to form and legality /s/ John R. Boger, Jr. County Attorney