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levied in Valley Avenue Extension Assessment District No. 1988-1 <br />becomes delinquent, the City Council shall cause an action to he <br />filed in the Superior Court of the County of Alameda to <br />foreclose the lien of the delinquent assessment'under the <br />authority of Section 8830 and followin~ of the Streets and <br />Highways Code of the State of California. This action shall he <br />filed not later than one hundred fifty (190) days after the date <br />of delinquency. <br /> <br /> Section 8.2. ~. Durin~ the term of the <br /> <br />bonds, the City will make no use of bond proceeds which, if such <br />use had been reasonably expected at the date the honda are <br />issued, would have caused the honda to he "arhitra~e bonds" <br />within the meanin~ of Section 103(c) of the United States <br />Internal Revenue Code of 1984, as amended, and regulations of <br />the Internal Revenue Service authorized thereby. <br /> <br /> Section 8.3. MAINTENANCE OF TAX EXEMPTION. The City <br /> <br />will take all reasonable actions required to maintain the status <br />of the honda as honda exempt from federal income taxes and State <br />of California personal income taxes. <br /> <br /> I HEREBY CERTIFY that the fore~oin~ resolution was <br />duly and regularly adopted hy the City Council of the City of <br />Pleasanton, Alameda County, California, at ~ regular meetin~ <br />thereof, held on the 18th day of July, 1988. <br /> <br />AYES: Councilmembers Butler, Mercer, Mohr, and Mayor Brandes <br />NOES: Councilmenhers None <br />ABSENT: Councilmembers Wood <br /> <br /> JAMES R. WALKER, City Clerk, <br /> City of Pleasanton, Alameda <br /> <br /> 8 <br /> <br /> <br />