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were issued is less than the corresponding annual installment of <br />principal and interest on the portion of the original assessment <br />being superseded and supplanted by the same percentage for all <br />subdivisions of land within such assessment district; (b) the <br />number of years to maturity of the Refunding Bonds allocable to <br />such assessment district for which the Original Bonds were issued <br />is not more than the number of years to the last maturity of the <br />Original Bonds for such assessment district; and (c) the <br />principal amount of the reassessment (other than amounts added to <br />such principal amount due to delinquencies in the payment of the <br />assessments for the Original Bonds) on each subdivision of land <br />within such assessment district for which the Original Bonds were <br />issued is less than the unpaid principal amount of the portion of <br />the original assessment being superseded and supplanted by the <br />same percentage for each subdivision of land within such <br />assessment district. Accordingly, this City Council finds and <br />determines that all of the conditions in connection with the levy <br />of reassessments and the issuance of the Refunding Bonds <br />specified in Section 9525 of the 1984 Act are and have been duly <br />satisfied and that this City Council may therefore take action <br />upon said report without notice and hearing. <br /> <br /> Section 3. Said report is hereby approved and <br />confirmed by this City Council, and the reassessments contained <br />therein are hereby confirmed and levied by this City Council, and <br />upon making the necessary recordings and filings as required by <br />the 1984 Act, the reassessments shall become a lien upon the <br /> <br />SF248744.~ 3 <br /> <br /> <br />