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RESOLUTION NO. 82-13 PAGE FOUR SECTION 5. SECTION 6. SECTION 7. and October, the last interest payment coming due on the October 15th immediately preceding the last annual payment of the principal of the bonds issued to represent the unpaid assessments. Pursuant to the provisions of the Streets and Highways Code of the State of California, specifically Section 10603, the Agency Treasurer is hereby designated as the officer to collect and receive the assessments during the cash collection period. Said bonds further shall be serviced and collected by the Agency Treasurer. "MUNICIPAL IMPROVEMENT ACT OF 1913" That except as herein otherwise provided for the issuance of bonds, all of said improvements shall be made and ordered pursuant to the provisions of the "Municipal Improvement Act of 1913", being Division 12 of the Streets and Highways Code of the State of California. SURPLUS FUNDS That if any excess shall be realized from the assessment, it shall be used, in such amounts as the Agency may determine, in accordance with the provisions of law for one or more of the following purposes: Transfer to the general fund of the Agency; provided that the amount of any such transfer shall not exceed the lesser of One Thousand Dollars ($1,000.00) or five percent (5%) of the total from the Improvement Fund~ B. As a credit upon the assessment and any supplemental assessment; or C. For the maintenance of the improvement. SPECIAL FUND That the legislative body of Agency hereby establishes a special fund designated IMPROVEMENT FUND FOR ASSESSMENT DISTRICT NO. 245 into which funds may be transferred at any time to expedite the making of the improvement herein authorized, and said funds are a loan and shall be repaid out of the proceeds of the sale of assessments as authorized by law.