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RESOLUTION NO. 88-472 <br /> <br /> RESOLUTION AUTHORIZING ISSUANCE OF SERIES B BONDS <br /> <br /> ASSESSMENT DISTRICT NO. 1986-9, <br /> NORTH PLEASANTON IMPROVEMENT DISTRICT NO. 3 <br /> <br /> The City Council of the City of Pleasanton resolves: <br /> <br /> Section 1. RECITALS. On March 17, 1987, the City Council of <br />the City of Pleasanton adopted its resolution of intention, as later <br />amended, to order improvements in Assessment District No. 1986-9, <br />North Pleasanton Improvement District No. 3, City of Pleasanton, <br />Alameda County, California, under the provisions of the Municipal <br />Improvement Act of 1913 (the "Act"), as amended. Proceedings taken <br />under the Act led to the levy of a special assessment by the City <br />Council against parcels of land within the assessment district in <br />the total amount of $64,762,151.00. These assessments were <br />recorded in the office of the County Recorder of the County of <br />Alameda on May 5, 1987, under Recorder's Serial No. 87-12547, and <br />thereupon became a lien on each parcel assessed. On August 28, <br />1987, Series A of bonds was issued in the amount of $22,126,599.24. <br />Subsequently, the total amount of assessment was modified to <br />$64,229,206.73. <br /> <br /> Section 2. ISSUANCE OF BONDS. The City Council hereby <br />authorizes the issuance of Series B improvement bonds under the <br />provisions of the Improvement Bond Act of 1915 to represent unpaid <br />Series B assessments in the amount of $23,931,728.99. The bonds <br />shall be designated, "Limited Obligation Improvement Bond, City of <br />Pleasanton, Assessment District No. 1986-9, North Pleasanton <br />Improvement District No. 3, Series B, Series No. 1986-9B." Bonds <br />shall be issued in denominations of $5000 or integral multiples <br /> <br /> <br />