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RESOLUTION NO. 79-109 SECTION 3. SECTION 4. SECTION 5. DESCRIPTION OF ASSESSMENT DISTRICT That the said contemplated work of improvement, in the opinion of this City Council, is of more than loc- al or ordinary public benefit, and of such a nature that the costs and expenses may be assessed in pro- portion 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 declared 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 pro- posed boundary map of said Assessment District heretofore approved by this City Council, indicating by said boundary line the extent of the territory included with- in 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 hereby 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 details as to the extent of said Assessment Dis- trict. pESCRIPTION OF BONDS That Serial Bonds, bearing interest at the rate of SEVEN Percent ( 7 %) per an- num, shall be issued to represent each assessment Fifty Dollars ($50.00) or more, remaining 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 succeed- ing the next September 1st following their date. Payments on the principal 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 "Im- provement Act of 1911," hereinafter referred to. GRADES 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 con- templated shall be done to the grades as indicated on the aforementioned plans and specifications, to- gether 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-