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corresponding annual installment of principal and interest on the <br />portion of the original assessment being superseded and <br />supplanted by the same percentage for all subdivisions of land <br />within such assessment district; (b) the number of years to <br />maturity of the Refunding Bonds allocable to such assessment <br />district for which the Original Bonds were issued is not more <br />than the number of years to the last maturity of the Original <br />Bonds for such assessment district; and (c) the principal amount <br />of the reassessment (other than amounts added to such principal <br />amount due to delinquencies in the payment of the assessments for <br />the Original Bonds) on each subdivision of land within such <br />assessment district for which the Original Bonds were issued is <br />less than the unpaid principal amount of the portion of the <br />original assessment being superseded and supplanted by the same <br />percentage for each subdivision of land within such assessment <br />district; and accordingly this City Council has found and <br />determined 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 <br /> <br /> WHEREAS, said report has been approved and confirmed by <br />the resolution of this City Council, and the reassessments as <br />contained therein have been confirmed and levied by this City <br />Council; and <br /> <br /> WHEREAS, the Pleasanton Joint Powers Financing <br />Authority (the "Authority") has offered to purchase the Refunding <br />Bonds at the purchase price specified in that certain agreement <br /> <br />SF2-18846.1 3 <br /> <br /> <br />