Laserfiche WebLink
<br />thereof on file in the office of the City Clerk to which reference is <br />hereby made for further particulars. Said map indicates by a boundary <br />line the extent of the territory included in the proposed district and <br />shall govern for all details as to the extent of the assessment <br />district. <br />15. Said Council further declares that all public streets and <br />highways within said assessment district in use in the performance of a <br />public function as such shall be omitted from the assessment hereafter <br />to be made to cover the cost and expenses of said acquisitions and <br />improvements. <br />16. Notice is hereby given that serial bonds to represent the <br />unpaid assessments, and to bear interest at the rate of not to exceed <br />twelve percent (12%) per annum, will be issued hereunder in the manner <br />provided in the Improvement Bond Act of 1915, Division 10 of said <br />Streets and Highways Code, the last installment of which bonds shall <br />mature not to exceed nineteen (19) years from the second day of July <br />next succeeding ten (10) months from their date. Unpaid assessments and <br />the interest thereon, including in each case a fee to cover the expense <br />of such collection as provided by law together with any fee in <br />connection with the maintenance by the City of a registration system for <br />the bonds, will be collected during the term of the bonds and shall be <br />payable in the same manner and at the same time and in the same <br />installments as the general property taxes and shall be payable and <br />become delinquent at the same times and in the same proportionate <br />amounts and bear the same proportionate penalties and interest after <br />delinquency as do the general taxes on real property. <br /> <br />-5- <br />