RES 86255 - Laserfiche WebLink

months from their date. The procedure £or the collection of assessments and advance retirement of bonds under the Improvement Bond Act of 1918 shall he as provided in Part ll.1, Division 10, of the Streets and Highways Code of the State of California. This Council appoints Hark Thomas ~ Co. Inc. as Engineer of Work for this project, and directs the preparation of the report required by Section 1020~ of the Streets and Highways Code. In addition to the information required hy Section 1020~, the report shall include the £ollowin~: 1. The total amount, as near as may he determined, of the total principal sum of all unpaid special assessments and special assessments required or proposed to be levied in any completed or pendin~ assessment proceedings other than the proceedings for Valley Avenue Extension Assessment District No. 1988-1. 2. The total true value, as near as may be determined, of the parcels of land and improvements which are proposed to he assessed. In the opinion of this Council, the public interest will not be served by allowin~ owners of assessable lands to enter into a contract for the work of improvement as otherwise permitted in Section 20~88 of the Public Contract Code. The amount of any surplus remainin~ in the improvement fund after completion of the improvement and payment of all claims shall he transferred to the ~eneral fund if the surplus does not exceed the lesser of one thousand dollars ($1000) or five percent (8%) of the total amount expended from the fund. Otherwise the entire surplus shall he applied as a credit on the assessment as provided in Section 10~2T.1 of the Streets and Highways Code.