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5. Assessment District No. 1974-5. <br />The purpose of this assessment district is for the <br />acquisition of easements and rights of way necessary for the construction <br />of, and the improvement of, ring roads and magazine roads within the <br />Entire Parcel. City will make no contribution to the funding of these <br />costs. <br />6. Water Reservoir. <br />The City will cause the construction of a water reser- <br />voir and appropriate water lines for the purposes of serving the Shop- <br />ping Center and other properties within the City to be completed not less <br />than twelve months before the Regional Shopping Center is open for <br />business. Such work of improvement will be financed by the City and <br />construction commenced when, as and if a Reciprocal Easement and Operating <br />Agreement, more particularly referred to in sub-paragraph IV-D hereof, has <br />been recorded. <br />III. OBLIGATIONS PROPOSED TO BE ASSUMED BY CITY FOR THE PURPOSES <br />HEREINABOVE ENUMERATED <br />A. City, using assessment district funds as hereinabove <br />specified, will acquire, either through purchase or condemnation <br />(if not dedicated by Developer or 5toneson), the fee title to the rights <br />of way required for all road improvements, including the ring roads, maga- <br />zine roads and other major access roads and the required easements for <br />public utilities. City will cause the necessary improvements to be under- <br />taken to these areas to make them functional. <br />B. City will endeavor to implement special assessment pro- <br />ceedings pursuant to the provisions of the Municipal Improvement Act <br />of 1913 of the State of California, with bonds to be issued under the <br />provisions of the Improvement Bond Act of 1915 of the State of <br />California. <br />- 5 - <br />F <br />