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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />Olive Street; and acquisition of land, rights -of -way and easements <br />necessary for any of those facilities, and to pay costs incidental <br />thereto. <br />Section 2. Payment of Bonded Indebtedness. Pursuant to <br />Section 4 of Resolution No. R-102-90, all parcels of taxable <br />property within the Community Facilities District shall be subject <br />to the levy of special taxes to pay the principal of and interest <br />on the bonds thereof which may be issued and sold to finance the <br />design, construction and acquisition of public facilities which <br />are of benefit to all such parcels, and the expected aggregate <br />principal amount of such bonds which may be issued and sold is <br />$10,000,000. <br />Section 3. Amount of Debt; Terms of Bonds. The <br />aggregate principal amount of the bonded indebtedness to be <br />incurred by the Community Facilities District shall not exceed <br />$10,000,000. The maximum term of the bonds shall not exceed 40 <br />years. The maximum annual rate of interest to be paid semi- <br />annually on the bonds shall not exceed 12 percent per annum or <br />such other rate as may be the maximum interest rate permitted by <br />law. <br />Section 4. Proposition to be Submitted to Voters. <br />(a) The proposition to be submitted to the voters within <br />the Community Facilities District with respect to the proposed <br />bonded indebtedness shall be as follows: <br />Shall a bonded indebtedness in an aggregate <br />principal amount not to exceed $10,000,000 be <br />Mc <br />