1949 (#3727-3888) - Laserfiche WebLink

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mentioned, in the opinion of this City Council, is of more than local or ordinary public benefit, and this City Council has made the expense of said work (except for the cash contribution of $9,038.72 as set forth in Section 3 hereof) chargeable upon a district, which district this City Council has declared to be the district Benefited by the said work and to b® assessed to pay the cost and expense thereof, except such portion of sald cost and expense as is paid from the cash contribution as provided in Section 3 hereof. For the particular description of said assessment district reference is hereby made to said Resolution No. 3858. Section 3. That, as provided in said Resolution No. 3858, the sum of nine thousand thirty-five and 72/100 dollars ($9,035.72) of the costs and expenses of said work shall be paid out of the treasury of said city from the general fund of said city, and the obligation to pay said sum shall accrue and become fixed upon the date of the confirma- tion of the assessment by this City Council. Section 4. That this City Council has determined and declared that serial bonds, bearing interest at the rate of six per cent (6%) per annum shall be issued to represent each assessment of twenty-fi~!~l~ars~l$~r~ever remain- ing unpaid for thirty (30) days after the date of recordation of the warrant. Said serial bonds shall extend over a period ending nine (9) years from the second day of January next succeeding th~ next october iSth following their date. Said bonds shall be issued under the "Improvement Act of 1911," Divi- sion 7 of the Streets and Highways Code of the State of California.