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-1 3 8— . <br />interest rate of 6.8 %, annual payments would range from $285 to $181 over this ten year <br />period. • <br />PROJECT SCHEDULE <br />This project is anticipated to proceed under the regulations of Chapter 4nof City CA <br />State Statutes 429 which regulate special assessment public imp <br />schedule for the progress of this project is anticipated . as follows: <br />• November 25, 2008 Present feasibility study to City Council and Or er <br />public hearing <br />Hold public hearing <br />Authorize project by City Council (60 -days aft <br />public hearing) <br />Receive plans and specifications and authorize ids <br />Receive bids and award construction contract <br />Construct project <br />Hold assessment hearing and levy assessments. <br />First assessment payment due <br />• January 13, 2009 <br />• . March 24, 2009 <br />• May 26, 2009 <br />• June 23;2009 <br />• July 2009. . <br />• . September 28, 2009 <br />• May 2010 • <br />SUMMARY AND CONCLUSIONS <br />lt is <br />The proposed improvements are technically feasible in and the will b e n fit ule area f this <br />recommended that the City take the steps discusse <br />report to decide whether to proceed with the improvements. <br />