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7. The Council approves the Engineer's Report and each <br />component part of it, including each exhibit incorporated by <br />reference in the report. <br /> <br /> 8. The Council finds that the Engineer of Work, in the <br />Engineer's Report has fairly and properly apportioned the cost of <br />the improvement to each parcel of land in the assessment district in <br />proportion to the estimated benefits to be received by each parcel, <br />respectively, from the improvement. The City Council hereby <br />confirms and levies each individual assessment as stated in the <br />Engineer's Report. <br /> <br /> 9. This Council orders the improvement described in <br />paragraph 2 and as detailed in the Engineer's Report. <br /> <br /> 10. Serial bonds representing unpaid assessments, and <br />bearing interest at a rate not to exceed twelve percent (12%) per <br />annum, will be issued in the manner provided by the Improvement Bond <br />Act of 1915 (Division 10, Streets and Highways Code), and the last <br />installment of the bonds shall mature not to exceed twenty-four (24) <br />years from the second day of September next succeeding twelve (12) <br />months from their date. <br /> <br /> 11. According to Section 10603 of the Streets and Highways <br />Code, the City Council designates the Director of Finance to collect <br />and receive payment of the assessments. <br /> <br /> <br />