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• RESOLUTION NO. 11-09 A RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS AUTHORIZING ISSUANCE OF LIMITED OBLIGATION IMPROVEMENT BONDS AND DIRECTING RELATED ACTIONS West Loyola Sewer Assessment District No. 1 RESOLVED, by the City Council (the "Council") of the Town of Los Altos Hills (the "Town"), County of Santa Clara (the "County"), State of California, as follows: WHEREAS, on August 28, 2008, this Council adopted its Resolution of the City Council of the Town of Los Altos Hills of Intention to Make Acquisitions and Improvements, (the "Resolution of Intention") under the Municipal Improvement Act of 1913, Division 12 of the Streets and Highways Code of California, (the "Act") to initiate proceedings under the Act in and for the Town's West Loyola Sewer Assessment District No. 1 (the "Assessment District") for the making of certain public improvements (the "Improvements") as described in the Resolution of Intention. WHEREAS, pursuant to the Resolution of Intention, this Council has provided for the issuance of improvement bonds pursuant to the Improvement Bond Act of 1915, Division 10 of the Streets and Highways Code of the State of California (the "Bond Law"). WHEREAS, this Council has directed Town staff and consultants to give to the owners of all of the lands in the Assessment District notice of recordation of the assessments and the opportunity to pay all or a portion of their respective assessments during a period of at least 30 days, as required under the Bond Law (the "Cash Payment Period"). WHEREAS, there have been submitted to this Council certain documents providing for the issuance of improvement bonds for the Assessment District and the use of the proceeds of those improvement bonds to finance the Improvements, including the forms of Fiscal Agent Agreement, Bond Purchase Agreement, and Preliminary Official Statement, and this Council, with the aid of its staff, has reviewed those documents and found them to be in proper order. WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of said bonds and the levy of the special assessment as contemplated by this Resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Bond Law. NOW, THEREFORE, IT IS HEREBY ORDERED as follows: Section 1. Unpaid Assessments. Following the end of the Cash Payment Period, any Authorized Officer (as defined below) is authorized and directed to determine the amount of the assessments that remain unpaid and complete and file a list of all assessments that remain unpaid (the "List of Unpaid Assessments") with the Finance Director. For a particular description of the lots, pieces and parcels of land bearing the respective assessment numbers to be set forth in the List of Unpaid Assessments, reference is hereby made to the Engineer's