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acquisitions to be known as the "Assessment District" shall, as proposed, include
<br /> all that territory in the said City of Santa Aha, County of Orange, State of
<br /> California, within the following described exterior ~our~iary lines, to-wit:
<br />
<br /> Beginning at a point in the center line of North Main Street
<br /> and distant 151 feet North of the South line of Section One (1),
<br /> Township Five (5) South,, Range Ten (10) West, S.B.B.&.M.; said South
<br /> line of Section One (1) being also the surveyed center line of West
<br /> Seventeenth Street; thence Westerly parallel to a~d distant 151 feet
<br /> Northerly from the said South line of Section One (1) to an inter-
<br /> section with the Westerly line of Greenleaf Street; thence Northerly
<br /> along said Westerly line of Greenleaf Street to the Northeast corner
<br /> of Lot 19, Tract No. 748, as. per map thereof on file in Mis~ellaueous
<br /> Maps, Book 30, Page 9, Records of Orange County, California, thence
<br /> Westerly along the Northerly line of Lots 19, 24, 21, 22 and 23 and
<br /> across Heliotrope Drive and along the Northerly line of Lots 24, 28,
<br /> 28, 27, 80, $1 and 82 of said Tra~t No. 748, and a Westerly continuation
<br /> of said last described line to an intersection with the center line of
<br /> North Flower Street; thence Southerly along ~he sai~ center line of
<br /> North Flower Street to a point distant 150 fe~t South of the said
<br /> Southerly line of Section One (1); thence Easterly parallel to and
<br /> distant 150 feet South of the said Southerly line of Section One (1)
<br /> ~o an intersection with the center line of North Main Street; thence
<br /> Northerly along said center line of North Main Street to the point of
<br /> beginning~
<br />
<br /> Reference is hereby made to the map o£ said Assessment District, approw
<br /> by said City Council, and on file in the Office of the Clerk of said City Council,
<br /> which indicates by a boundary line the extent of the territory to be included in
<br /> said proposed Assessment District, and which said map shall govern for all details
<br /> as to the extent thereof.
<br />
<br /> Section 3. That in the Judgment of said City Council varying benefits
<br /> to be drived ~y different parcels of land lying within said district require and
<br /> that, therefore, said Assessment District shall be divided into two separate zones
<br /> designated "Zone A" and "Zone B". Each of said zones as proposed is plainly
<br /> shown upon the said map of the said Assessment District on file in the Office of
<br /> the Clerk of this City Council, to which said map reference is hereby made as to
<br /> the boundaries thereof and all details concerning said zones.
<br />
<br /> The percentage, as proposed, of the sum to be raised each year by the
<br />levy and collection of special assessment taxes in said district from the lands in
<br />each of said zones, for the payments on the principal and interest of the bonds to
<br />be issued to defray the expenses of the things herein proposed to be done, are
<br />hereby determined to be as follows:
<br />
<br /> From Zone A, ninety-seven percent
<br />
<br /> From Zone B, three percent (3%)
<br />
<br /> Section 4. That to defray the expenses of the things proposed to be
<br />done, as above set forth, bonds will be issued to the total amount of the same;
<br />said bonds to bear interest at a maximum rate, which shall not exceed eight percen'
<br />(8%) per annum, payable semi-annually, the exact rate of interest at which such
<br />bonds are to be sold to be determined at the sale of such acquisition bonds;
<br />the first interest payment to be made on the ~nd day of January, or the 2nd day of
<br />July (whichever month first succeeds the date of the bonds) next succeeding one
<br />year ~fter the date of such bonds, and the aggregate principal of all bo~s issued
<br />under the~e proceedings to be paid and discharged within thirteen (13) years
<br />after the date of issuance, approximately one-tenth (1/10) part of such aggregate
<br />principal to be payable annually, all in gold coin, and that a special fund for
<br />the payment of such bonds will be constituted by the levy of special assessment
<br />taxes upon the lands within the Assessment District, according to the assessed
<br />
<br />value of said lands, exclusive of the improvements thereon, and in the manner
<br />
<br />
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