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RESOLUTION NO. 83-170 <br /> <br /> RESOLUTION ESTABLISHING BOND RESERVE FUND <br /> <br /> ASSESSMENT DISTRICT NO. 1983-2 <br /> HACIENDA BUSINESS PARK <br /> <br />The City Council of the City of Pleasanton resolves: <br />1. There is hereby created a special fund to be <br />designated Special Reserve Fund, Assessment District No. 1983-2, <br />Hacienda Business Park, City of Pleasanton, Alameda County, <br />California. <br /> <br /> 2. Out of the proceeds of the sale of improvement <br />bonds to represent unpaid assessments in Assessment District <br /> <br />No. 1983-2, Hacienda Business Park, there shall be deposited in <br /> <br />the special reserve fund the amount designated for this purpose <br /> <br />in the report required by Section 10204 of the Streets and <br />Highways Code and approved by this City Council, reduced by an <br />amount which bears the same ratio to the amount set forth in the <br />report as the amount of assessments paid in cash bears to the <br />total amount of assessments. <br /> <br /> 3. During the term of the improvement bonds, the <br />money in the special reserve fund shall be available for <br />transfer into the redemption fund for the bonds pursuant to <br />Section 8808 of the Streets and HighWays Code. The amount so <br />advanced shall be reimbursed to the special reserve fund from <br />the proceeds of redemption or sale of the parcel for which <br />payment of delinquent assessment installments was made from the <br />special reserve fund. <br /> <br /> 4. If any assessment is prepaid prior to the final <br />maturity of the bonds, the amount of principal which the <br /> <br /> ORIG ]AL <br /> <br /> <br />