Ordinance 3358 - Laserfiche WebLink

• ' , 0 Street to U. S. Highway 99, removing where necessary the high crown, and paving to a full 4-lane width the several blocks near the con- nection with U. S. Highway 99. (In other words, Pacific Avenue from Broadway to Walnut and Walnut Avenue from Pacific Avenue to its connection with U. S. Highway 99 shall be paved to a full 4-lane width. ) The City shall acquire such real property, easements, and rights-of-way as may be necessary to carry out the above described plan of improvements. Each of the above described separate improvements shall be completed in conjunction with local improvement districts to be created to pay part of the cost of each such improvement. Said im- provements shall be constructed, installed and made in the order in which they appear above unless any of the same become non-feasible because the necessary local improvement district or districts to be created in conjunction therewith are blocked by sufficient protests thereto. In the event there shall be any moneys left from the pro- ceeds of the sale of the bonds authorized herein after all of such improvements are completed, or after all of the same that may be completed are completed, then such surplus moneys shall be used by the city to construct, reconstruct, widen, pave and make such other improvements to arterial streets within the City as deemed most necessary and advisable by the City Council. Section 2: That for the purpose of providing funds necessary to pay part of the cost of the above described improvements, the City shall issue and sell its general obligation bonds in the principal sum of 0600,000. Said bonds shall bear interest at a rate of not to exceed 6% per annum, and shall mature in from two to six years from date in such amounts as will, as nearly as practicable, together with the interest thereon, be met by equal annual tax levies to be made upon all the taxable property within the City with- out limitation as to rate or amount. The exact date, form, terms -3-