9upon a district, which said district the said City Council hereby
declares to be the district benefited by said work and improve-
ment and to be assessed to pay the costs and expenses thereof,
and which district is described as follows:
All that certain territory in the City of E1 Segundo,
California, exclusive of streets and alleys, included within
the exterior boundary line shown upon that certain map or plat,
being Sheet 1 of Plan No. 57 -11, heretofore approved by the City
Council of said city on the 10th day of March, 1958, indicating
by said boundary line the extent of the territory included with-
in the proposed assessment district, and which map or plat is on
file in the office of the City Engineer of said city. Reference
is hereby made to said map or plat for a further, full and more
particular description of said assessment district, and the said
map or plat so on file shall govern for all details as to the
extent of the said assessment district.
PROFILE GRADES
SECTIOiN 4. NOTICE IS HEREBY GIVEN that the finished
grade of the improvement will be different from the existing
grade of the streets as they now exist, and such different or
new grade is that shown on the plans and profiles herein referred
to.
DESCRIPTION OF BONDS
SECTION 5. That serial bonds, bearing interest at the
rate of six per cent (6 %) per annum, shall be issued to represent
each assessment of Fifty Dollars ($50.00) or more remaining unpaid
for thirty (30) days after the date of recording the warrant. Said
serial bonds shall extend over a period ending nine (9) years from
the second day of January next succeeding the next October 15th
following their date. Payments on the principal of unpaid assess-
ments and interest thereon shall be made by property owners to the
City Treasurer, all as provided in the "Improvement Act of 1911 ",
hereinafter referred to.
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