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mentioned, in the opinion of this City Council, is of more <br />than local or ordinary public benefit, and this City Council <br />has made the expense of said work chargeable upon a dis- <br />trict, which district this City Council has declared to be <br />the district benefited by the said work and to be assessed <br />to pay the cost and expense thereof. For the particular <br />description of said assessment district reference is hereby <br />made to said Resolution No. ~3-43. <br /> <br /> Section 3. That this City Council has determined <br />and declared that serial bonds, bearing interest at the rate <br />of six per cent (6%) per ann~ shall be issued to represent <br />each assessment of twenty-five dollars ($25) or over remain- <br />ing unpaid for thirty (30) days after the date of recordation <br />of the warrant. Said serial bonds shall extend over a period <br />ending nine (9) years from the second day of January next <br />succeeding the next October l~th following their date. Said <br />bonds shall be issued tunder the Improvement Act of 1911, <br />Division 7 of the Streets and Highways Code of the State of <br />California. Pursuant to Section 646~ of said code, this City <br />Council hereby determines and elects that said bonds shall <br />provide for a premium of five per cent (5%) of the unpaid <br />principal, payable as provided in said Section 6464. <br /> <br /> Section 4. That said work and all proceedings <br />therefor shall be done and performed under and in accordance <br />with said Improvement Act of 1911. <br /> <br /> Section 5. That the Clerk of the Council of said <br />city is hereby directed to post conspicuously for five (~ <br />days on or near the chamber door of this City Council, in the <br />manner and form required by law, a notice inviting sealed <br />proposals or bids for doing said work ordered hereby, and <br /> <br /> <br />