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HomeMy Public PortalAbout1063 (03-01-38) i��� .. . RESOLUTION N0, '1063 - RESOLUTION.Or THE CITY C,OUNCIL.OF THE . • CITY OF LYNVJOOD, Cf�LIFORNIA, DECLARIPIG '. _ ITS �tNTEP�TION TO REb�UND THE IIQDEBTED-_ � NESS OF ACQUISITION AND IMPROVEMENT "- DISTRICT�NO. 11 OF SAID CITY AND FIXING A TIn4E AND PLACE FOR HEARING. IT IS HEREBY RESOLVED by�the Citg Council of. the City of Lynwood; California, as.follows; , . Section•1. That`the public.interest, conven- ience and' neces"sity r'equire the refunding of the •indebt- edness of Acquisition and Improvement�Distri:ct'�RTO. ll of the City of Lynwood, California; and<.it�is the^intention I I of the City Council of said refiznd said•indebted- 'i ness under the prodisions'of an act-of the Legislature of the State of California designated as�the �OAssessment �t Bond Refunding Act of 1933," approved June 5, 1933, as f amended, and for the purpose of refunding said indebtedness said City Council intends to levy a reassessment and to issue refunding bonds' as here'in proposed. •�• " Section 2.� That the total amount of outstand- ing indebtedness of said District to be refunded is the' sum of thirty thousand four hundred fifty-four arid O1�'100 �dollars (�30,454.01). The""amount of�the principal'�of bonds iricluded therein is the sum of twenty-seven thousand riine hundred fifty-six and'88�100 doIlars (�27,956.aII). ; �.:' �� � . � � ���. , ..•. �. �.r i�. . The amount of"due and'unpaid interest coupons' included therein is the sum of two thousand four hundred ninety- seven and 13�100 dollars (�2,497.13). �The amounts re- ferred to in this section�are determined as of the date ' � , , . this resolution is adopted. � �� � , . , '. ' � . . � . .. ,. . �` _ � ., � . • � . � ,Section.3. That the .total maximum prineipal , . - . amount for which a reassessment shall be levied in the � proceedings for the refun�ino of said indebtedness is de- termined to_be the sum of thirty t,housand four hundred dollars (�30;400.00). . Section 4. That refunding bonds shall be issued ' to represent any reassessments not paid within thirty (30) days from the date of recording the reassessment, and for,, any reassessment not paid�within thirty (30) days from the �date of recordt�tion thereof a reiunding bond rvill issue ..' in the manner and for.n provided in said Assessment Bond P.efunding Act of 1933, as amended. Said refunding bonds ' shall extend over a period endin� nine (9) years fron� the second day of January uext succeeding the fifteenth day of the next November following their date, and an even annual proportion of the principal sum of each bond shal.l be pay- I "� �, . able by coupon.on the second day of January of each year after the fifteenth day of the next November following its date, until the whole is paid. Said refunding bonds sha11 bear interest at the rate of six per`cent (6f) per annutn, payable semiannually, by coupon on the second days oP January and July, respectively, of each year after their date. Upon any of.such bonds dated after the fourteenth ' day of May of any year and on or before the fourteenth I day,of the folloviin� November, the first interest coupon sha11 become due and payable on the second day of the next succeeding January, and upon such bonds dated'after- the fourteenth day of Idovember of any year and on or before the fourteenth day of the follovJing Niay, the £irst interest coupon shall become due on the second day of the next succeeding July. Each refunding bond . 2. i . � � .. � i . . . . . . . � - - , . . . � . . . . shall represent the reassessment upon the lot, piece or parcel of land described in said and the principal amount of each bond shall be the amount of the unpaid reassessment upon the lot, piece or parcel o£ land scribed iri such bond. . , Section 5. lnterest maturing or accruing on . ' the outstandin� bonds of said Di'strict subsequent tc the date this resolution is adopted and prior to the date the reassessment is recorded is to be paid. Section 6. That the 5th day of April, 1938, at the hour of S:OO o�clock in the evening o£ said day, is the day and hour, and the`chambers of the City Council in the City Hall in the City of Lynwood is the place, fixed for the hearing of objections to said refunciing. Pt any time not later than the hour set for hearing objections to said proposed refunding, any person inter- � ested,and any ov✓ner of property which is subject to reas- sessment in the refunding proceeding may file his �vritten ' objection against the proposed refunding with the City Clerk of the�City of Lynwood, An objection must contain a description of 'the property in which each signer thereof is interested, sufficient to ic.entify the same, and shall ' set forth the nature of each signer�s interest therein, and shall be delivered to said City Clerk at or before the time herein set for hearing', and no other protests or objections shall be considered. Section 7. The refunding of said indebtedness shall not be authorized unless the wr•itten consent of the owners of a majority in area of the land in the District � subject to assessment to pay the principal and interest 3. of the outstanding bonds is filed with said City Clerk and any ovmer of land in said Acquisition and Improvement District No. 11 may file his �ritten consent to such re- funding at any time prior to the adoption of the resolution ' ordering the refunding. - Section 8. The land �vhich is proposecl to be ' reassessed for tne refunning of the o'utstanding indebted- ness of said Acquisition and Improvement District PIo. 11 consists of.all such lots,.pieces or• parcels of land within said Acquisitlon and Improvement District No. 11 as are . subject to assessmerit to aay the principal and interest of the outs bonds which are to be refunded in this pro- ceedSng. The exterior boundaries of said Acquisition and Improvement �istrict No,. 11 are described as follovrs; Beginning at the northwesterly corner of Lot l, Block 6 of Tract No. 7816, as shown on map recorded in Book 91, Pages 20, 21 and 22 of' Maps, `� "- �" ' Records of Los Ange,les County, California; thznce northerly' along.the northerly prolongation of the , westerly line of said Lot 1, a distance of 15.00 , feet to a point, said point being on the nortlierly line of the first alley north of Platt Avenue; �hence easterly along the northerly line of said alley to its intersectioxi Vrith the northerly pro- � longation of the easterly line of Lot l, Block 15 of said Tract No. 7316; thence southerly in a dis�ect line to the southeasterly corner of said , Lot 1; thenoe.wester�l•,* in a direct line to the southwester.ly corner oi' Lot 37; Block 11 of said Tract No. 7816; thence southerly in a direct line to northv�esterly corner of.Lot 1 of Tract • No. 9862, as shown on map recorded in Book 137, Pages 21 and 22 of' I�!aps,� Recerds of Los Angeles County, California; thence easterly and southerly� along the northerly�and easterly lines of said Lot 1 to the s,outheasterly corner of said Lot 1; thence southerly along the southerly prolongation of the . easterly line of said Lot l�to the southerly line of Fernwood Avenue as said Fernwood Avenue is located westerl� from Cares� Street; thence westerly ' a'long the said southerly line of Fernwood Avenue to the southeasterly corner of Lot 3 oP Tract No. , 5709 as sho�vn on map recorded in Boo�: 65, Pages 23 of Maps, Records of Los Angeles County, California; thence northerly in a direct line to the northeasterly � . corner of said Lot 3; thence westerly in a d.irect line _ . to the northvresterly corner of Lot 1 0£ said Tract . 4. � � . � . _ � . ' ,. ' . . ' . . . 5 . . , . . . . . � . ' • :..^ ' � ' : . . � 1. . .. , . � . . ...:'. . ., . . . .•.• ... . . .. .. . . . . . ... . . . . .l _. • ' , . . , ' . . . .. . � . �. . - . � , � � . . . . . . •�.�..r. . . . . . , ' . , .. � .�. . . '. �'. � `.. : .'.� . . � ^ ..i ' . . . . . . ' .J� r . . .. ' ' � , i . • . ', No 5,709, thence�'southerly along;the westerly � . � r line of"said Lot l and the southerly prolonga- � ` • tion �thereof,,.to.,the .westerly pr.olongation of �'�'� i,the �northerTy line 'of I;ot' 1 of-.Tract iVo. '7572, , . ' - as map,�reco'rded:.in �ook,82, �ages 22 ` ' =and 23,-of Maus; Record's of T,os Angeles County, ° Califo�nia•,'therice `easterly .in a direct line • . • .° • :' ' � � to�^th'e',northv.esterly corxier_'of said Lot l; `, `' ' ' . 'thence easterly along the said'riortherly line � of' Lot 1 and the easterly prolon�aLion thereof, • to ,,the no'rtherly pr,olongatiori of' the''we�_terlg. �. - _ � � �line" of' ,Lot �4 of' Tract No;. 9235 as :per ,map � � . , t�ecord.ed in Book 129, Pages.l0 arid 11 of Maps, , ' Records-of Los Angeles County,'California; - -. � ., thence northerly iri a direct line to tiie north- . westerly corner.of Lot.1 of said �`ract No. 9235; thence northeasterly in a direct line ' , � to the southivesterly. corner oi Lot 6 of Tract ,� No. .5709'; as shown on map'recqrded in.Book 65,' .. � Page 23 bf Naps, Recor'ds` of Los Arigeles.County, �- � . California; thence north.erly in. a,direct-line, � `� , to the northwesterly�corner.of `sai� Lot 6; ' thence easter,ly i'n a direct line-to the north- �' ` easterly corner of 3aid' Lot 6;, thence southerly ' a-long'the easterly line of said'Lot•6 and the -' °� : " " sout'-ierly prolongation'thereof to'tlle easterly � `'� prolongation oi the southerly"line .of Lo't 27 of Tract No:. 9235, ' as shown on i;iap necorded . in ; . Book.129, Pages 10 and 11 of.Maps,_Rebor�ds_of Los An�eles Courity, California; thence west�rly alon� said easter•ly prolon�;ation of the southerl;r •�'' '•.� lin.e of,Lot 27-and the,westerly prolon�ation. -- �' thereof; to.the north'erly prolongation of the • � ' . ',', easterly line of Lot 35 of Tract;�Tdo. 6575, ae -• shown on map rAcorded in Boo4c.127, Page 50 of �Naps, Records of Los 4n�eles.County California; thence..southerly'in a di.rect line to'the,north- • easter.ly corner of said',. Lot 35,� thence southerly '' •` - and westerly along tY�e easterly and souther'ly ,.' , � , lines, of said L'ot 35, to 'the southvvesterly corner of said Lot 35,• thence uvesterly along�the westerly '�, � ' ' prolongatiori of the said s.outherly line of Lot 35 , , to the easterly :line cf Lot 210`of Tract No. 7572, ' ,,-' ' as shown on map recorded in Book �2, Pages 22 and 23, of Maps, Records of Lo"s Angeles C.ounty, _ „ California; t�ience soutner•ly alon�.the said easterly ' _, line of Lot ?.10 and the soutnerly prolon�a,tion . t?iereof to a point on the southerly line of`said - ` "' Tract i1o, 7572, said point is also'ori the southerly. . boundary line of the City of Lynwrood, California; as said boundary line existeci the 3rd day of 'June, � „ . 1927; thence westerl,y alonb the said southErly � � line of Traot No. 7572 to the eastarly�line �oF ` Bullis xoad, as s�id easterly line oi Bulli9 Road • is located southerly from Agnes Avenue; thence 'nortntvesterly in a direc't line to tne soititheasterly , corner of Lot,51 of Tract No.' 6554 as shown on map - recorded in Eook'68, Page'76 of Maps; Records of• . , Los Angeles County, California; thence northerly . . . . • � . .' . . .. . '4 t , { . . . . , ' . . . , . �. '..:. �.�.... . ' � ' � . " , �, . . -. � ' . . .''. .' � .. r_ �' .Za�. ��J � . ", , . ' � , ' '- , . . . .... t- .. ..,. . . . . _ . , . . �� . , . . ��,. . . . . :� t .v�' ,..., ' .. . ., . . ,. .. . , , , . . . . . � _l . .., s �� . , . . . . . . � , � ,' . �. � , � . . _ . - . . � . � . � ` . � .. . , . . .� �� • y . r �, � . . . .• , � x _ � _ _ " � 5 .. _ � � � ,` - . . . , . �� , . , . : n , , � . . ' ` in a di.rect line to the'southwesterly�corner `. ' ' of Lot .1298 of Tract No. 3335 as shoivn 'on° - it7ap Recorded in.Book 36;.'Page 42 of Pllaps;' ' . ' •Reccrd.s �f, Los ,AngEles -County,. California; . , , , � t'r.ence easterly and`northerly along the � soui;n�rly and easterly lines:of' said lot 1298 ' � • to t�e northeasterly corner"of said Lot 129F3; '. thence. easterly iri a direct line to.the north- r. - 'westerly aorner-of Lot 11; &lock 1 of 'Pract - No. 7810 as sho�vn on map Recorded in Book 91, " Pages 20, 21 and 22 of ?t7aps, Reco�ds o£ Los ;�, Angele.s:County, Califorriia;,tHence:northerly � ,' -" '� '' along the northerl.y proloneation o:f.. the vvesterly .'. � line of said Lot 11,.,to the westerly �rolon�ati,on � of'. the hortherly,line=`of. Lot 20, Block 2 of said Tract No._ 7.816; tYience 'easterly im a direct line : to a p.oint�on the nort12er1y Tine of sgid Lot 20, ,� , "' d'istant the,reon 34.99 feet ?roir. the' northia*esterly' , .•'corner of.said Lot 20; thence northeasterly in a , : : di,rect line. to a point on the wesierly�line oS . � Lot 12, Block 5 of said�Tract IQo.: 7816,'distant, _ `'t'�e.:reon`118.49 fee� £rom'bhe northwesterly,corner , ` ':of said L:�t 12;•thence_ northerly'in'a direct line� , � . s' to tne northwesterly corner of,Lot'.1; Block 6 . :. �of said Tract No.,7816,.the place of oe�inriing'. - � . : . • . Sec"tion 9..°.That the'Citg Cler� of the City .� , . , '.of Lyriwood ahall cause this resolution'to be published � ° "" :- , :•"' " °" "°' . once a weelc for two, (2), ��veeks in tne Lynwood Press, a , . ; ' newspaper of general circulation printed, published, and . circulatsd-iri said city. Said Clerk shall also uost or cause. to be; pos cdpie"s, of such'resolution headed '. ' "Notibe•�of Refunding anc� Reaesessment" upon all.open. .' ` � ,' . + r �streets w`ithln s,aid:Acquisition and�.�Improvement District �_ �?dq. 11. �.�uch noticea shall be �osted more thr`ee hund-red (300 feet in distance`apart.and riot lesa than three (3) of such notices shall be posted: Such noticas shall be posted on or before tiie date o£ the '" ,_;;", -'f�rst publication of said .resolution,, Said Clerk shall also mail, posta�e prepaid; . . , , a.copy.of this resDlution as- ublished to each pers.on to � ' whom land in 'said Acquisition and Improvement District- - - . Iv'o, ll is assessed as.shown on the las:t equalized , 6 . assessment roll of Los Angeles County, at his address as sho�vn upon such roll, and to any person whether owner in fee or having a lien upoi� or legal or equitable'interest in any land �vithin said Dis- trict irhose name and address and. a designation o£ - • the land in which he is interested is on file in the . .i • : ' `. . , i � , � • office of said Clerk. � .. • � �,The date of the first publication of this resolutiori and'the date of posting the notices herein- , above mentioned and the date of mailin� copies of this resolution shall be at' least tvrenty (20) days prior to the date of hearinb hereinbefore fixed. ADOPTED, SIGNED AND APPROVED, this lst day �. of March, 1938. _ _ . ��. �L�-�Yei�Jv1/ � . I�ia�or of . the. City of Lynvvood, California. (SEAL) ' , �_ � 3 ;-,.:- ��� v'. ,., a :v`' Attest• "% - � �' , w � ; � c „��, �; 5 � � � �. , w � . .� . �. �'� ^ City C erk o'f the City o' � - - Lynwood;'^California. � 7. STATE OF CALIFORNIA ) COUN'i'Y OF LOS ANUELES } SS. CITY OF LYNPJOOD ) � I, R. 'N. A??DERSON, City Clerk of the City of. Lynwood, California, do hereby certify that the above and foregoing resolution was dul,}* adopted by the City Council , of the C,ity of Lynwood at its, regular meeting held on the . lst day o£ March, 1938, by the following vote, to �vit; : _ ,�„y;�csa��; COUNCILP�IEN: �? �^�� � Ay�,�; Lake, Meyer, Nation and BoG ter. � � � � � ,�`r r ' ` �''r/i'. . ; � . ' �?`". , `"''` - None . � �, < ° � ' , NOES: s� . . � � . . �� �.,�� � . . � .. . . .. t � '; (`�. ' �'� 'AIlSENT: Councilman Snyder. _ _ ' :,,. � t,;,�� � � r �� � �;�` .. .. ,:€;,." . � ��%��� sY s.�fl . City C erk of t e City o h , . . Lynwood, California. � , (SEAL) 'c" ',; �STATE OF CALIFORi`1IA ) . _ , , COUIJTY OF BOS :4NGEL'�S ) SS:, ' . C ITY OR LYI�NYOOD ) � , ''�. I,'� R: VV.. AND�RSON, City Clerk of the City of � � � . -, , Lynwood, California,��do hereby certif,y that the above and fore�oing is a full, true and correct copy of a resolution in the records of the City Clerk of the City of Lynwood, California, and that said resolution was adopted at the time and by the vote aboce stated. I WITNESS my hand and the seal of the city of Lyn- wood, this day of , 193�. , . . ..: . � _ , _: _._ . . . . , City Clerk oi' the City of ' Lyn�a�ood, �alifornia. (SEAL) II.