1983 RES NO 4351 - Laserfiche WebLink

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ii I 'j I 1 !� remainder of the estimated costs and expenses. Said assessment j it 2 shall refer to said subdivisions by their respective numbers as i 'i 31 assigned pursuant to Subdivision D. of this Section. I � i 41, BONDS 5;! SECTION 4. Notice is given that bonds representing] I i 'i 6 unpai d assessments, bearing interest at a rate not to exceed the i 7 i1 current maximum rate of twelve percent (12%) per annum, wi 11 be 3l issued in the manner provided in the "Improvement Bond Act of 1915", being Division 10 of the Streets and Highways Code of the 1.0 i State of California, the last installment of which bonds shal 1 11�imature a maximum of and not to exceed FOURTEEN (14) YEARS from the' second day of July next succeeding ten (10) months from their 13 �� date. The provisions of Part 11 .1 of said Act, providing an �i 14 ' alternative procedure for the advance payment of assessments and 15 the calling of bonds shall apply. 16 The principal amount of the bonds maturing each year 17 shall be other than an amount equal to an even annual proportion i 1$of the aggregate pri nci pal of the bonds, and the amount of pri n- 19' cipal maturing in each year, plus the amount of interest payable 20in that year, will be generally an aggregate amount that is equal j 21 ;each year, except for the first year's adjustment. w. 22! Pursuant to the provisions of the Streets and Highways' 'I 23';' Code of the State of California, specifically Section 10603, the 24�� Treasurer is hereby designated as the officer to collect and re - 25 ';ceive the assessments during the cash collection period. Said; li 26 ii bonds further shall be serviced and collected by the Treasurer, or! i 27 �i designated Paying Agent. i 28 i