HomeMy Public PortalAbout1156 (09-29-38) . , . , .
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. RESOZUTION N0: '1156 ' .
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' •', ,, t�ESOLIIlION PROVIDING_.FOR�BUF�CHASE Ob �
� '�-_�..,• � THE'REASSESSMENTS AND.Rr�F,UNDING BONDS_ ,
,: . OF ACQUISITION AND IMPROVEMENT DIS- _
. TftICT; N0 15 ' OF' �TE� .CITY',OF' LYNVVOOD, _ ' ' -
, . .� , G'ALIFORNtAi : ' , ' '
� . � � . . -. WHEREAS, the C3ty of Lyn�vood,. California, -i's con-• - , "
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;ductzng a proceeding to refund .the'indebtedness of Acquisi�
'" tion.and Improvement District No. 15 of the"City of Lynwood
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� under"the Assessment Bond Refunding Act of.1933', as amende3, -
,`�nd in order to raise moneys necessary for the purpose of ac-:
. complishir� �s,aid.refunding it_is riecessary that sAid City �..
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... purohase all of�the refunding and reassessmerits; and '
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WHEREAS the reassessments and refunding b onds to= .
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� be issued 3n the refunding of`sa3d indebtedness� are not saT-
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`� able "to 'a pr.ivate purohaser; �and the City of P;ynwood, in . ..
' � "order to refund'the indebtedness of said Dis.trict; finds - �
it necessary to purchase £he':said reassessments and refund=.
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. . ln� bonds.: . _ . •
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�' ' - . . ` ' ' � � NO�V, TI�REF'ORE, THE CITY COUNGIL OF .THE CITY UF ' : .
LYNdV00D,CAZIF;ORNIA, 'DOES HEREBY RESOLVE, DETERIvIINE ANT�� ORDER.,� `�
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AS FOLLOtiVS •. . _, _ . ,
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'., ,,.,' .. > , Section 1.. That.all reassessments 'levied and ' �. '_
,, refunding bonds to be issued in the indebtedness
� of Acquisition.and Improvement District_No. 15-=of.the-City -;- _•- `�
`'` of.Lynvrood be and the same are hereby sold, trans£erred and' ;
�:;. ' set over to the City of Lynwood. ,,� '. -�. , ,
_- , Sectiori 2. . That tk�e purchase price; of, said re- �
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, assessments.and refunding bonds is the sum of ,�8,•964.89,
and said sum is hereby appropriated from the General:Fund
of the City of Lynwood for the purpose makir� payment
£or said rea�sessments and sAid refuriding bonds. Said
purchase price shall be paid prior to the recordation of _.
the reassessment�in the refunding proceeding, and the � •
City Treasizrer arid all other city officiels of the City
o£ Lynvrood are hereby directed •to make of said ,
y purchase price. •
' Section,3. That the public convenience, inter- ,
� est.and necessity r.equire ,the.appropriation and contribu-
. tion of public funds of the City of.Lynwood as hereinbefore
. set forth and for the purpose hereinbefore set forth. The �
s•aid�reassess"ments and refundin� bonda so purchased�shall
constitute part of the General"Fund of the City of Lyn- "'.: �
wood'and all cash realized thereon from collections�of any � �
assessments and/or from payments upon'or from the sale of -
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any of the refunding bonds sha11 constitute a part of said
� Gen eral'Fund. ".� -, . -� ,:.. -
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• � ADOP.TED, .SIGNED AND APFRO�'ED .this 29th, day of ._
- September, 193E3. • - , '. .�
. . '' M ae i of nwood .
Y tY ,
C al if orni a.
ATTEST: . ., ' _.
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" ��_ City Clerk of the City of. l
Lyriw.00d; California. � �
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STATE OF' CALIFORNIA )
COUN'F1' OF LOS ANGr�LES ( SS. •
CITY OF LYNWOOD )
I, .R. �N. ,ANDERSON; �City Clerk of the City of
Lynwood, Calif,ornia, do hereby certify that the foregoir� -
resolution was duly adopted by the City Council of said
' C3ty &t 3ts . A �7� p �� rn � P8$UZ&T` meetin� duly
held "on the 29th day'of September, 1938,` by'�the following
vote,' to-wit:' -
AYES: . c Councilmen rdever Snvr�er and Netion
NOES; Councilmen N�
ABSENT: Councilmen BoGter and Lake
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• . City C erk of the ity, of L nwood,
- � California.
(SEAL)
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