1983 RES NO 4381 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 SECTION 7. That said Superintendent of Streets shall also give notice by publishing a copy of a notice of recording of assessment in the newspaper previously selected to publish all notices as provided by law, giving notice that said assessment has been recorded in his Office, and that all sums assessed thereon are due and payable immediately, and that the payment of said sums i s to be made within thirty ( 30 ) days after the date of recording the assessment, which date shall be so stated in said notice, and of the fact that bonds will be issued upon unpaid assessments. SECTION 8. Upon confirmation of the assessments and recordation of the assessment roll and di agram, a certified copy of the assessment diagram shall be immediately filed in the Office of the County Recorder. Immediately thereafter, a copy of the notice of assessment shall be recorded in the Office of the County Recorder in the manner and form as set forth by law and specifi- cally Section 3114 of the Streets and Highways Code of the State of California. SECTION 9. That the Treasurer is hereby authorized and directed to establish a special fund account to be known as the IMPROVEMENT FUND, and designated by the name of this Assessment District, into which fund shall be paid all payments to be recei ved upon sai d assessment, and the proceeds of the sale of securities to be issued representing unpaid assessments. SECTION 10. That the Treasurer is hereby further autho- rized to establish a SPECIAL RESERVE FUND, into which the desig- nated amount shall be transferred and held in trust for the bond- holders and used to assist final discharge by any payment by property owners within the boundaries of the Assessment District.