HomeMy Public PortalAbout1378 (11-18-41) a
RESOI,Z3TIOI3 N0. 1378
IN'THE MATTER OF THE ftEFUNDING OF ACQUISI- .
'_ TION AND INff'ROVENENT DISTRICTS NOS., 17, 1�, -
20, 22,, 23 AND 28, AND N:UNICIPAL INPROVE- .
- MENT DISTRICT N0. 1,OF .THE'CITY OF LYN6�d00D.
RESOLUTIQN DIRECTING THE CITY ENGIISEER CON-
CERNING PREPARATION OF ASSESSMENT (SOIt9ETIPJIES
CESLLED REASBESST�NT).
`'. °.. WHEREBS, the City Coi:ncil of theCity of Lynwood has
heretofore adopted its Resolwtion IJo. 1372 orderirig tha re-
. funding of the outstanding indebf�edness of the above entitled .
,districts and directing the City Engineer, who is also the
Superintendent of 8treets to,prepare an assessment (sometimes '
• called reassessment) and a diagrain of the property upon which
the assessment (so�etimes called reassessment) is to be levied.
: NQNf,'THEREFQRE, be it resolved by the City Council o£ the'
City of Lynwood as follows:
Section 1. That the total arnount of the proposed assess-
ment (sometimes called reassessment) sha1T be the sum�of Five
Hundred Ninety-seyen Thousand Qne Hundred E3ghty-�ix and 73/100
'. Dollars (�"597,186.73).
Section 2. That the portion thereof to be allotted to each
of the districts included in said multiple district refunding
' • . '
is as follows• . .. . ..:.. .,_.:�_ ... . _. ,_,�.. . ,_.
Acquisition and Improvement District No. 17--the sum of
• Twenty-three Thousand Four Hundred Ten and 04/100'Dolla'rs
(�23;410.04). .\:,
. . ... . ):.... _ .
Acauisition and Improvement District No. `18--the sum of
Five Hundred Thousand Six Hundred Fifty-two and 03/100 Dollars
o ..: .
(�500,652.03). ,
Acquisition and Improv.ement Diatrict No. 24--the sum of
, -1_
Forty-Five Thousand Five Hundred Seventy-five and 72/100 Dollars
��45,575.72)• . _
Acquisition and Improvement District No. 22--the sum of
Eleven Thousand Seven Hundred Twenty-six and 75/1G0 Dollars
�` . . _ ..
Acquisition and Improvement District No. 23--the swn of
Nine Thousand Nina Hundred Forty-nine and 51/100 Dollars
�w�9,94°.51)• . .. _.
Acquisition and Improvement District No. 28--the sum o£
Thres Thousand Thres Hundred Ninety-seven and 47/100 Dollara
(�3,397.47).
Municipal Improvement District No. 1--the sum of Tevo
Thousand Four Hundred Seventy-five and 21/100 Dollara (�2,475.21).
Section 3. That the amount allotted to each of said die-
tricts does not exceed the indebtedness of that district as set
forth in the Rasolution of Intention.
Section 4. That tha funds contributed by the County of
Los Angeles to aid in the refunding of said Acquisition and Im-
provement Districts Plos. lII and 20, in the amounts o£ One Hun-
dred Twenty-five Thousand and no/100 Dollars (,�125�000.00) and
Thirty-t�vo Thousand and no/100 Dollars (r�32,000.00) respectively,
have been properly credited to said districts in the allocatiori
of the respective amounts allotted thereto.
Section 5. In the preparation of said assessment (some-
times called reassessment) the City Engineer--Superintendent of
Streets shal]. apply the follo�uing formula: To the sum allotted
to each such district shall be added the total sum of all taxes
upon land and/or assessments includin� interest ancl penalties
paid into the interost and sinking fund of such district, and
including mone,y paid under the ten pa,yment plan or other plans
of installment payment, on or prior to the date of adoption of
the resolution of intention in the refunding proceading, for
-�-
the payment o£ principal or interest of any of the bonds oP said
district the indebtedness of tivbich is being refunded. The total
amount of the t�vo sums thus ascertained shall be assessed upon
and against all of the lands in said district subject to reassass-
_
ment and benefited 'oy the acquisitions or improvements or acqui-
_
sitions and improvements for �vhich the bonded indebtedness of
said district was incurred and the total amount sha11 be assessed
upon eACh lot, piece or parcel of land in proportion to the
estimated benefits received by each such lot, piece or parcel
of land £rom said acquisitions or improvements or acquisitions
and improverients. V�henever a lot, piece or parcel of land so
assessed lies in t�vo or more districts included in the multiple
district refunding proceeding, the amounts so assessed in each
district shall be added together and constitute one assessment.
The amounts thus assessed may be referred to�as the gross assess-
ment upon each lot, piece or parcel of land.
From the assessmont (which ma� be called the gross assess-
ment) thus made upon each lot, piece or parcel of land sha11 be
deducted the amount oP such taxos upon land and such assessments
(including interest and penalties, if any) paid into the interest
and sinking fund of any of the districts included in-the refund-
ing proceeding on or prior to the date of adoption of the reso-
lation of intention in the refunding proceeding upon any tax or
assessment levied upon any such lot, piece or parcel of.land to
pay the interest or principal, or both, of bonds of any of the
districts included in said multiple district refunding proceed-
ing and including money paid under the ten payment plan or other
plans of installment payment, and all of the sums so paid for
any.parcel of land, regardless of the district or districts, to
pay the indebtedness of �vhich such taxes or assessments were
paid, shal7. be deducted as a single item from the assessment
(sometimes �eferred to as gross assessment) upon such parcel.
' -3-
Zn every case where the credite are in excess of the groea asseae—
ment (sometimes called reaesesament) determined for the parael to
, which said credits are applied the exceas ehall be applied to re-
duce the gross assesaments (sometimea called reaesesaments) on par—
cels in the said districts which 8o not-have credita exaeeding their
respective gross assessments or reassesamenta, the said excesees
to be applled to eaid groae asseaementa or reasaessmente in the
. proportion which each auch grosa assesement or reasaeasment bears
to the total of auch gross assesement or reasseasment.
APPROVED AND ADOPTED this 18t f November, 1941
_�FrLYNP10'OII
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STATE OF CALIFORNIA ) , . .
• ° " COTJSiTY UF LO^a;ANGELES . •s's; ., • .
_ -, , C�TY � UF' LYN4900D � _ , ) - . . . � .
I;. the.undersigned City Clerk of the,City of �
�Lynuvood, do hereby certify that the.above and foregoing �. .
Resolution was„duly adopted by the.City Council of said
. , � .City �at, a . - - - - - - - - - regular �,eeting th`ereof � . .
, held in the:City, Ha11 of said" City,,,on the 18th day ,of. ,'
° November , 1941. ,•and passed by the following vote:
' � � AYES: CCU�TCTLIr�N �hri�tensen, La,ke,- Zimmerman •
. . � ._. . � ,
. , . McNeekin `and Meyer." , •
NOES: COLTNCILIv�N None. ' , �
� �-�„"•'''`;� ; ABSENT: COUNCILI�^.EN Ncne. , :
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