HomeMy Public PortalAbout1338 (07-15-41) RESOLUTION N0. 133R
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF LYN'flOOD DETERMINING THAT THE PUB...
LIC INTEREST��CONVENIENCE�AND�NECESSITY
REQUIRE THE REFUNDING OF�THE INDEBTEDNES3
OF''LYNWOOD F.CQUISITION� AND �IPdPROV�dENT
DISTRICTS NO5. 17� : .18,. 20, 22, _ 23,_
28, .11�1D,,LYNU700D MUNICIPAL IMPROVEMENT DIS—
TRICT N0, i� REQUESTING THE CONSENT OF
THE CITY COUNCIL��OF THE"CITY��OF��SOUTH GATE
AND SUPERVI$ORS`OF THE
• OF'LO$�ANGEI;ES TO'SAID�REFUNDING�'� '� '
P7HEREAB, the public intereat, convenience and neceesity
require the refunding of the indebtedneas oY Lynwood Acquisi—
tion and Improvement Districta Nos. 17, 18, 20, 22, 23, and
28, and Lynwood Ddunicipal Improvement Diatrict No. 1; and
PIHEREAB, said Aequieition and Improvement District 17
onerlaps Dletricts 18, 23 and 28; eaid District'18 overlapa
Districts�l7, 20, 22, 23, 28 and Lynwood Municipal Impronement
District 1; said District 20 overlaps District 18; said Dis—
trict 22 overlapa�Districta 18 and IvIunicipal Improvement��Dis—
trict 1; said Diatr'ict 23 onerlapa Diatricte ].7, 18 and 28;
and said District 28 overlaps Districts 17, 18 and 23; and said
Municipal�2mprovement Dietrict'1 overlaps said Districta 18 and
22. . V -
l^lfiERF,AS, said Acquisition and Improvement District.l8 liea
partially�in the City of Lynwood, partially in_the City of South
Gate and partially in unincorporated area of the County of Los
Angeles; and
PJHEREAS, said Acquisition and Improvement Districts 17; 20,
and 28 lie partially in the City of�Lynwood and partially in the
City oP South Gatej and -
' 4PHEFiEA3, the Board oP Supervisors of the County of Los An—
gelea levies the special assessment taxes for the payment of�
principal and interest oP the bonds of said Acquisition and
_� �
Improvement Districta.l7, 18, �20, and 28; and
� WHEREAS, it is proposed by the City Council of the City oP
Lynwood tYiat the indebtedness of all of tlie aforesaid districts
ahall be refunded in a multiple refunding proceeding under the
Asseasment Bond Refunding Act of 1933, as amended.
' NOW, THEREFORE, THE CITY COUNCIL OF TfiE CITY OF LYNIYOOD,
CALIFORNIA, DOES HEAEBY RESOI;VE"AND�DETEffii�IINE`AS FOLLOVPS:
$eotion 1.� Tliat the�'public`intereat,�convenience and neces—
sity require the refunding of the indeb�edneas of Lynwood Acquisi—
tion and Improvement Diatricts 17, 18, 20, 22, 23 and 28 and Lyn-
wood Municipal Improvement District No. 1 in a multiple refunding
proceeding, under the provisiona of the Asseasment Bond Refunding
Act of 1933, as amended. �.
3ection 2. Tbat this City Council proposes to conduct the
proceedinga to refund the indebtedneas of said dietricta in a mul—
tiple refunding proceeding and proposes to issue one seriea of
bonde pa,yable in ten annual installements as provided by said act,
bearing five per cent interest.
Section 3. That this Citq Council hereby requests the con—
sent of the City Council of City of South Gate (in which mun—
icipality portions of said Acquisition and Improvement Districts
17, 18, 20, and 28 lie) and the consent of the Board of�Super—
visors of the County oY Los Angeles (that being the legislative
body which levies the assessmenta for the payment oY principal
and interest oY the bonds of said Lynmood Acquiaition and Improve—
�ent Districta 17, 18, 20 and 28; also a portion of said Aequi—
sitlon and Improvement Diatrict 18 Ties in unincorporated terri—
tory of saici County), to the refunding of the indebtedness oP
all of the aforesaid diatricta under the aYoresaid act���to the
le¢ying of one assessment (sometimes called reasseasment) there—
for, to the issuance oY one series of honds payable in ten annual
installments as provided in said act, bearing interest computed
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at the rate of.Pive per cent per annum, and to the assumption
oY complete Juriadiction, power authority by the City Coun—
cil of the City of Lynwood in all matters pertaining to said
refunding, `�Said legislative bodies are requeated to express
their respective consents by resolution, a certified copy oP
which shall be filed with the Clerk of the City of�Lynwood.
Section 4. The Clerk of this City Council is hereby di—
rected to make certified eopiea oP this resolution and to file
one oY said certified copies with the Board of Supervisors of
the County of Los Angeles and one with the City�Council of the
C1ty�of South Gate:
' APPROVED AND ADOPTED this 15th day of July, 1941.
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_ ` 'STATE OE. Ct T�IFORNT�, ;."`) ' ' ' . , ':`''
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, ._COUNTY;O�',LOS'l�N�`1c,LES: sa.'..; s ' i �
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s_ I, the undersignecl City`,Clerk ; of the�',;City tof r,� �
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•Lynwood, , do h cert'ify.�that the . above and' foregoing ,�
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�`< , �;.' Re�olutibr was du7y,.adopted'by:the City: Council' of said
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� • ,„ y , ; f- = - . regular._meeting_ thereo,f held„in
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._ the City -H�ll. ,of said , City; . on the `- 1 5th day of r �
, , J��Y. ' i` 294•.1', 'and' passzd by tkie•following�`vote: , s �''
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