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RESOLUTION NO. 76-65 BOUNDARIES OF DISTRICT SECTION 4. That said City Council has determined and ~lared that the contemplated works and improvements heretofore ~tioned were in the opinion of said City Council of more than l~cal or ordinary benefit, and said City Council has made the pe~ of said works of improvements chargeable upon an assessment district. For a particular description of the Assess~ment District, reference is hereby made to said ~esolution of Intention. BONDS SECTION 5. That said City Council has determined and declared that Serial Bonds bearing interest at the rate of SEVEN percent ( 7% ) per annum an~ extending over a ~er~~ NINE years from the ~4 4&y of January ~ext succeeding %-~- next Septe~er 1st following their date, will ~ issued hereunder in the manner as provided by the #Improvement A~t of 1911", being Part 5 of Division 7 of the Streets and li~h~ays Code of the State of California, to represent each asssssa~ent of Fifty Dollars ($50.00), or more, rem~mining unpaid for thirty (30) days after date of mailing by the contractor or his assigns of the statement to property owners pursuant to ~ection 5390 of the Streets and ~ighways Code. Said bo~ds shall further provide for a premium of 5% on the ur~satured primcipal if said bonds are retired or discharged prior to their maturity. PROCEEDINGS SECTION 6. That all of the work herein ordere~ shall be done and carried through pursuant to an Act of the Legislature of the State of California designated the #Impro%,~ment Act of 1911", ~ein~ Parts 1, 2 and 3 of Division 7 of the Streets and ~ighways C~. NOTICE INVITING ~.EALED PROPO~_~ SECTION 7. That the City Clerk is hereby further directed to post, conspicuously, for five (5) full days on or near the regular meeting place of the City Council, being the Council C~a~bers, in the manner and form as required by law in the Im- provement Act of 1911, a Notice Inviting Sealed Proposals or Bids for ~oing the works of improvements proposed for this Assessment District, and this City Clerk is hereby further directe~ to publish twice in the "REGISTER" a designated newspaper of general circulation in said City and h~reby designated by this City Council for that purpose, a Notice Invitiag Sealed Proposals or Bids for doing the work~ of improve- ~ts and further referring to the plans and specifications as ~ file and open to inspection in the Office of the City Clerk. APPROVED and ADOPTED this 6th day of July~ 1.976 ATTEST CITY Ol~ SANTA ANA STATE OF CALIFORNIA STATE OF CALIFORNIA