Res87 10463 - Laserfiche WebLink

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1. The proceedings for the levy and collection of reassessments as security for the issuance and payment of refunding bonds shall be conducted pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 (commencing with Section 9500) of the California Streets and Highways Code (the "Act"). 2. Said contemplated reassessments and refunding, in the opinion of this Council, are of more than local or ordinary public benefit, and the costs and expenses thereof are made chargeable upon the City of Redwood City Seaport Centre Assessment District, the exterior boundaries of which are shown on a map thereof heretofore filed in the office of the City Clerk, and in the office of the County Recorder of the County of San Mateo to which map reference is hereby made for further particulars. Said map indicates by a boundary line the extent of the territory included in said assessment district and shall govern for all details as to the extent thereof. 3. This Council declares that all public streets, highways, lanes and alleys within said assessment district in use in the performance of a public function, and all lands owned by any public entity, including the United States and the State of California, or any departments thereof, shall be omitted from the reassessment hereafter to be made to cover the costs and expenses of said refunding. 4. Said reassessment and refunding are hereby referred to Brian Kangas Foulk & Associates, Redwood City, California, a qualified firm employed by this City for the purpose hereof, and said firm is hereby directed to make and file with said Clerk a report in writing, presenting the following: (a) A schedule setting forth the unpaid principal and interest on the Prior Bonds to be refunded and the total amounts thereof. (b) The total estimated principal amount of the reassessment and of the refunding bonds and the maximum interest thereon, together with an estimate of -2-