1977 RES NO. 3661 - Laserfiche WebLink

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- • :- a .y_F � kyr.:-s.�.... dL .R''� �` c A. Plans and specifications of the proposed improvements. B. An estimate of the cost of the proposed works and improvement, including the cost.of the incidental expenses in connection therewith. C. A diagram showing the Assessment District above referred to, which shall also show the bound- aries and dimensions of the respective subdivisions of land within said Assessment District, as the same existed at the time of the passage of the Resolution of Intention, each of which subdivisions shall be giv- en a separate number upon said Diagram.. D. A proposed assessment of the total amount of .the assessable cost and expenses of the proposed improvement upon the several divisions of land in proportion to the estimated benefits to be received by such subdivisions, respectively, from said im- provement. Said assessment shall refer to such subdivisions upon said diagram by the respective num- bers thereof. E. The description' of works of improvement to be constructed under these proceedings. When any portion or percentage of the cost and expenses of the improvements is to be paid from sources other than assess- ments, the amount of such portion or percentage shall first be de- ducted from the total estimated cost and expenses of said work and improvements, and said assessment shall include only the remainder of the estimated cost.and expenses. Said assessment shall refer to said subdivisions by.their respective numbers as assigned pur- suant to Subdivision D of this Section. BONDS SECTION 4 Notice is hereby given that serial bonds to represent the unpaid assessments, and bear interest at the rate of not to exceed eight percent (8%) per annum, will be issued here- under in the manner provided in the Improvement Bond Act of 1915," being Division 10 of the Streets and Highways Code, the last in- stallment of which bonds shall mature a maximum of and not to exceed NINETEEN (19) years from the second day of July next succeeding ten (10) months from their date. The provisions of Part 11.1 of said Act, providing an alternative procedure for the advance payment. of assessments and the calling of bonds shall apply. The principal amount of the bonds maturing each year shall be other than an amount equal to an even annual proportion of the aggregate principal of the bonds, and the amount of principal matur- ing in each year, plus the amount of interest payable in that\year will be generally an aggregate amount that is equal each-year,"'ex- cepa for the first year's adjustments. "MUNICIPAL IMPROVEMENT ACT OF 1913" SECTION 5. Except as herein otherwise provided for the issuance of bonds, all of said improvement and acquisition, if neces- sary, shall be made and ordered pursuant to the provisions of the "Municipal Improvement Act of 1913", being Division 12 of the Streets Highways Code of the State of California. W j