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RESOLUTION NO. 82-353 <br /> <br /> RESOLUTION ESTABLISHING BOND RESERVE FUND <br /> Assessment District 1982-2, Valley Business Park <br /> <br /> The City Council of the City of Pleasanton <br /> <br /> resolves: <br /> <br /> 1. There is hereby created a special fund to be <br />designated Special Reserve Fund, Assessment District <br />1982-2, Valley Business Park, City of Pleasanton, Alameda <br />County, California. <br /> <br /> 2. Out of the proceeds of the sale of <br />improvement bonds to represent unpaid assessments in <br />Assessment District 1982-2, Valley Business Park, there <br />shall be deposited in the special reserve fund the amount <br />designated for this purpose in the report required by <br />Section 10204 of the Streets .and Highways Code and approved <br />by this City Council, reduced by an amount which bears the <br />same ratio to the amount set forth in the report as the <br />amount of assessments paid in cash bears to the total <br />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 <br />so advanced shall be reimbursed to the special reserve fund <br />from the proceeds of redemption or sale of the parcel for <br />which payment of delinquent assessment installments was <br />made from the special reserve fund. <br /> <br /> 4. If any assessment is prepaid prior to the <br /> <br /> <br />