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<br /> Section 3. That in the Judgment of said City Council varying benefits to
<br />be drived by different parcels of land lying within said district require and that
<br />therefore said Assesmment District shall be divided into two separate zones designate
<br />"Zone A" and "Zone B". Each of said zones, as proposed, is plainly shown upon the
<br />Map of said Assessment District on file in the office of the Clerk of this City
<br />Council, to which said Map reference is hereby made as to the boundaries thereof and
<br />all details concerning said zones.
<br />
<br /> The percentage~ as proposed, of the stun to be raised each year by the levy
<br />and collection of special assessment taxes in aaid district from the lands in each
<br />of said zones, for the payments on the principal and interest of the bonds to be
<br />issued to defray the expenses of the things herein proposed to be done are hereby
<br />determined to be as follows:
<br />
<br />From Zone A, Twenty-five percent (25~)
<br />
<br />From Zone B, Seventy-five percent (75%)
<br />
<br /> Section 4. That to defray the expenses of the things proposed to be done
<br />as above set forth, bonds will be issued to the total amotmt of the same; that the
<br />interest rate to be paid on all acquisition bonds and immediate possession bonds, if
<br />any, which shall be issued under these proceedings shall be issued at a maximum rate
<br />which shall not exceed eight percent (8%$ per -~um, payable semi-am~a~lly, the
<br />exact rate of interest at which ~uch bonds are to be sold to be determined at the
<br />sale of such acquisition or innnediate possession bonds, the first interest payment to
<br />be made on the 2nd day of January or the 2nd day of July (which ever month first
<br />succeeds the date of the bonds) next ~ucceeding one year after the date of such
<br />bonds, and the asgregate principal of all bonds issued to be paid and discharged
<br />within thirteen (13) years after the date of issuance approximately one-tenth of
<br />said aggregate principal to be paid annually, all in gold coin, and that a special
<br />fund £or the payment of said bonds will be constituted by the levy of special
<br />assessment taxes upon the lands within the Assessment District according to the
<br />assessed value of said lands, exclusive of the improvements thereon, and in the manne:
<br />provided by the provisions of the said Act under which said acquisition proceedings
<br />are had and taken, the first payment on the aggregate principal of all bonds issued
<br />will be made three years after the issuance thereof.
<br />
<br /> Section 5. That the 12th day of January 1931~ at the hour of 7:30 otclock
<br />P'.M. of said day, is the day and hour, and the Council Chamber of the City Council
<br />of the City of Santa Ana, in the City Hall in the City of Santa Ana, California, is
<br />the place fixed by said City Council when and where any and all persons having any
<br />objections to the proposed acquisitions as hereinbefore set forth, to the extent of
<br />the Assessment District, t~ the zones into which said district is to be divided, to
<br />the percentages to be raised from each of said zones, or to any or all of the fore-
<br />going, may appear before said City Council and be heard. Attention is hereby
<br />directed to the provisions of the Acquisition and Improvement Act of 1925, as
<br />amended, relative to objections and protests.
<br />
<br /> Section 6. That the proceedings for said acquisition, opening and widening
<br />of said portions of Flower Street shall be had and taken under and in accordance with
<br />an Act of the Legislature of the State of California, known and designated as the
<br />"Acquisition and Improvement Act of 1925", approved May 23, 1925, and amendments
<br />thereto, and said bonds shall also be issued in accordance with the provisions of
<br />said Act and amendments thereto.
<br />
<br /> Section 7. That Clyde L. Jenken, City Engineer of the City of Santa
<br />Ana, is hereby appointed Superintendent of Work, without compensation, and he is
<br />hereby ordered to cause to be conspicuously posted, ~n the manner provided in said
<br />Act~,.no~ic~s of the adoption of this Resolution, entitled, "Notice of Public Improve-
<br />men~', ~n ±etters of not less than one inch in length, in the form required by law.
<br />
<br /> Section 8. That the Clerk of this City Council shall certify to the
<br />adoption of this Resolution, and shall cause the same to be published by two insert-
<br />ions in the Santa Ana Daily Evening Register, a daily newspaper published and
<br />circulated in the City of Santa Ana, California, which is hereby designated for that
<br />purpose, and for making all other publications in or incident to these proceedings.
<br />
<br /> The foregoing Resolution was duly and regularly introduced, passed and
<br />adopted by the City Council of the City of Santa Ana, at a regular meeting thereof,
<br />held on the 15th day of December, 19~0, by the following stated vote, to-wit:
<br />
<br />AYES,
<br />
<br />TRUSTEES: J.L.McBride, W.J.Kelly, B.0.Sutton,
<br /> Stanley E. Goode, F.L.Purinton.
<br />
<br />NOES, TRUSTEES: None
<br />
<br />ABSENT, TRUSTEES: None
<br />
<br />ATTEST:
<br />
<br /> 'Clerk of
<br />
<br />E. L. Vesely
<br />the City of Santa Ana
<br />
<br />
<br />
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