Laserfiche WebLink
apportionments of amounts expended jointly for the Improvements <br />and for the other work within Hacienda; and that the City has <br />not conducted an independent audit of these amounts. The Owners <br />hereby represent that these amounts are verifiable by regular <br />business records of the Owners. <br /> <br /> 3. PAYMENT. The City shall pay to the Owners, <br />respectively, the price stated in paragraph 2, by checks drawn <br />on the improvement fund for Assessment District No. 1983-2 <br />within one.business day after the sale and delivery of <br /> <br />improvement bonds of the assessment <br /> <br />4. CONVEYANCE OF TITLE. <br />shall vest in the City upon payment <br /> <br />district. <br /> <br />Title to the Improvements <br />of the price set forth in <br /> <br />paragraph 2 and formal acceptance of the Improvements by <br />resolution of the City Council of the Cit~. The Owners agree <br />that acceptance of the Improvements by the City may be deferred <br />at the City's discretion until construction of certain <br />additional related improvements within Hacienda and <br />certification of completion by the Director of Public Works of <br />the City. <br /> <br /> 5. CONDITIONS PRECEDENT TO ACQUISITION. The <br />acquisition of the Improvements is conditional on the completion <br />of special assessment proceedings undertaken by the City as <br />Assessment District No. 1983-2 and the sale and delivery of <br />improvement bonds issued by the City pursuant to the Improvement <br />Bond Act of 1915 in the principal amount of $45,775,000.00. The <br />Owners acknowledge that the completion of assessment proceedings <br />is in the discretion of the City Council of the city and is <br /> <br /> <br />