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RESOLUTION NO. 78-68 PAGE TWO DESCRIPTION OF ASSESS~LES]T DISTRICT SECTION 3. That the said contemplated work and improvement, in the opinion of said City Council, is of more than local or ordinary public benefit, and of such a nature that the costs and expenses may be assessed in proportion to the estimated benefits arising therefrom, and said City Council hereby makes the expenses of said work and improvement chargeable upon a district, which.said district is hereby de- clared to be the district benefited by said work and improvement to be assessed to pay the costs and expenses thereof, and which district is described as follows: All that certain territory, exclusive of streets and alleys, included within the exterior boundary line shown upon the proposed boundary map of said Assess- ment District heretofore approved by the City Council, indicating by said boundary line the extent of the territory included within the proposed Assessment District, and which map or plat is on file in the Office of the City Clerk, with copies thereof on file in the Office of the City Engineer of said City. Reference is here- by made to said map or plat for a further, full and more particular description of said Assessment District, and said map or plat so on file shall govern for all de- tails as to the extent of said Assessment District. DESCRIPTIO~] OF BONDS SECTION 4. That Serial Bonds', bearinq interest at the rate of SIX & ONE-HALF Percent (6.5%) per annum, shall be iss~ed'~o represent each assessment of Fifty .Dollars ($50.00) or more, remaininq unpaid for · thirty (30) days after the date of mailing of Notices pursuant to Section 5390 of the Streets and Highways Code of the State of California. Said Serial Bonds shall extend over a period ending NINE (9) years from the 2nd day of January next succeeding the next SeptenfOer 1st following their date. Payments on the prin- cipal of unpaid assessments and interest thereon shall be made by property owners to the City Treasurer, and the same shall be disbursed by said City Treasurer, all as provided in the "Improvement Act of 1911", hereinafter referred to. GRADES SECTION 5. NOTICE IS HEREBY GIVEN that the grade to which the work shall be done is that as shown on the plans and profiles therefor, above referred to, which grades may vary from existing grades. The work herein contemplated shall be done to the ~rades as indicated on the aforementioned plans and specifi- cations, together with profiles. Reference is hereby made to the aforesaid plans, profiles and specifications for a description of the grades at which the work is to be done. -2-