HomeMy Public PortalAbout1077 (03-30-38) . , .. . . , _
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. RESOLUTION• N0. 1077• . . '
' - � ' RFSOLUTION PROVIDING FOR', SALE` aF ' , . • •
' . CERTP_IN BONDS OWNED BY Ti3E CITY ; •
'. - � OF.LYNGVQQD AND FOR CANCELLATION- . .
, . ,OP CERTA�IN BONDS AND . C�UPONS O�NNED ` • ` ' `
, . BY �SAID GITY� IN TFiE" PR�CEEDINGS
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TO REFUND TfiE INDEBTEDNESS OF -.
a - . ,; ACQUISITION AND IMPRtTVE14?E[�IIT DI3- ' " . `
TRICT N0. 19 QF SAID.CITY'. ,` ".
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• '• WHEREAS,.the Ctty of Lynwood owns'certain�bonas � h `
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• and�alI interest,coupons�appurtenant there,to of Ac-"
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, quis3tSon and Iiriproyement District No . 19 of'said.bity,�
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^' ' "" WHEREAS; said.,City is�'conducting a:proceeding to
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. refund the indebtedness of 'said District:� �
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� . N01R�; THEREFORE, the City Council of� the' City of '
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':Lynwood does hereby resolve, determine,,'snd order as.. `" '"'
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�, Section 1: That bonds�of sa'id District iri thej,
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principal �12.,500:OO.owned;by the City of'Lyn-
wood be sold�ta said City in the refunding proceeding �•�,
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'" ` for ths�sum.of �400:00 for �1000.00 bond, and the
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� total purchase price of said bonds is the . siun' of �5,000.00, •� -
and said bonds and coupons appurtenant,thereto shall be
, cancel,led'by'the ; C ity Treasurer of,the Gity-of Lynwood
:upon receivin� payment by said City therefor of said
sum"of $5;000.00.
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' z S,ection 2. That-.a�11 other bonds and interest. coupons '
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of said District owned by s,aid.City or hereafter acquired _�
and owned by said Ci-ty shall be cancelled by the City
Treasurer in the refunding of the indebtedness of said
District and no compensation shall be paid the City of
Lynwood therefor. That the public interest, convenience
and necessity require contribution of the bonds and
interest coupons mentioned in,this section to eid and "
a'ss.2st in the refund,ing bf the indebtedness of said
Dis tri ct. -
ADOPTED, SIGNED AND APPROVED this 30th day of Narch,
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,•. Attes • Mayor,o the City of ynwood
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'C ty Clerk of the C tg of Lgnwoo . �.` `
STATE OP CALIFORNZA . ,): `: ` . `' ' ' '`.". r' �
COUNTY OF LQS ANGELES �(� SS. •�
' . CITY OF LYNWOOD ) • ;
I, . R�.` YV;:" ANDERSON, City, C1erk of the City of Lynwood;
, � G'alifornia, do heretiy certify that the abode and"foregoing
, resolution was duly adop the^City Council of the City
"" of Lynwood at its ad.iourned'regular meetin'g held on N?arch 30,
� 1938, and that same was adopted by�the�following vote, to wit:
� AYES: Councilmen Meyer, Nation, Snyder and
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�s'` ` ' NOES.z None.
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� � =�ABSEIVT: Councilman Lake.
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, �' , C ty C erk of the City of
, � • Lgriwood, Californie. '