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RESOLUTION NO. 82-13 PAGE THREE SECTION 4. A. Plans and specifications of the proposed improvements; Be An estimate of the cost of the proposed works of improvement, including the cost of the incidental expenses in connection therewith. A diagram showing the Assessment District above referred to, which shall also show the boundaries and dimensions of the respective subdivisions of land within said Assessment District, as the same existed at the time of the passage of the Resolution of Intention, each of which subdivisions shall be given a separate number upon said Diagram~ A proposed assessment of the total amount of the assessable costs and expenses of the proposed improvement upon the several divisions of land in proportion to the estimated benefits to be received by such subdivisions, respectively, from said improvement. Said assessment shall refer to such subdivisions upon said diagram by the respective numbers thereof; The description of the works of improvement to be constructed under these proceedings, and acquisition, where necessary. When any portion or percentage of the cost and expenses of the improvements is to be paid from sources other than assessments, the amount of such portion or percentage shall first be deducted from the total estimated costs and expenses of said work and improvements, and said assessment shall include only the remainder of the estimated costs and expenses. Said assessment shall refer to said subdivisions by their respective numbers as assigned pursuant to Subsection D. of this Section. BONDS That it is hereby determined and declared that serial bonds be issued in accordance with Division 7 of the Streets and Highways Code ("Improvement Act of 1911") to represent each assessment of One Hundred Fifty Dollars ($150.00) or more, remaining unpaid for thirty (30) days after the date of recordation of the diagram and assessment for this improvement. The serial bond shall extend over a period not to exceed NINE (9) YEARS from the second day of January next succeeding the next September 1st following their date. The interest rate on said bonds shall not exceed the current legal maximum rate of 12% per annum. The principal sum shall become due and payable in equal annual payments on each October 15th succeeding the September 1st following the date of the bonds until fully paid. The first interest payment shall be payable on the April 15th next succeeding the March 1st or October 15th next succeeding the September 1st, as the case may be, next following the date of the bonds. The following interest payments shall each be for six months interest and shall be payable on each 15th day of April