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Home My Public Portal About1178 (05-31-39) RESOLUTION N0.11?8. RESOL'JTION OFFERING TO COI�PROMISE REASSESS- i�ENTS LEVIED AGAINST PROPERTY BELOI4GING.TO THE LYNI�OOD ELEP.4ENTARY SCHOOL DISTRICT IN � REFUNDIiVG CERTAIN ACQUISITION AND IMPROVE- MENT DISTRICTS OF THE CITY OF LYNlN00D. , . . Be it resolved�by the City Gouncil of the City of Lynwood as follows: � 1JHEREAB, certain real property which no�v belonge to tne Lynwood Elementary School District was included within certain Assessment Districts created during the years T927, 1928, 1929 and 1930 under the authority of the Acquisition a.nd Improvement Act of 1925, as amended; and WHEREAS, certain oi these Acquieition and Improvement,districts have been refunded under the Assessment Bond Refunding Act of 1933, as amended; and �1HEREAS, the City Council of the City of Lynwood anticipates that all oi the remaining Acquisition and Improvement Districts in the City of Lynwood will be refunded under the aforesaid Refunding Act or under some otner similar refur�ding act; and � V7HEREAS, in refunding Acquisition and Improvement District AIo. 6, reassessment No. 821 in the principal amount of �1,191.02 was levied against property belonging to the Lynwood Elementary School District and � said reasseasment became a lien on said property on December l, 1937, the date of tne recordation of the reassessment roll_in said refunding pro- eeedings; �nd INHEREAS, on last said date the reassessment roll in the r•e- funding of Lyn�vood Acquisition and Improvement District No. 10 was re- corded, in which proceedings reassessment No. 164 in the principalsum of '�923.01 became a lien on property owned by the Lynvrood Elementary School District; and W"riEREA5, in the refunding of Lynwood Acquisition and Improvement Dis- trict No. 19 reassessments Nos. 946 to 952 inclusive, and 968 to 974 inclusive, having a total principal amount of �91.35, were levied against property be-, longing to the Lynwood Elementary School District and became liens thereon on -1 •" - April 2, 1938, the date of the recording of the reassessment roll in said proceedin�s; and � t"JHEREAS, in the' reiunding of Lynwood, Acquisition and Improve-- ment District No. 8 Reassessment No. 1215 in the principal sum of �87.51 was levied on property belonging to:�the.Lynvaood Elementary School District znd became a lien thereon on June 23, 1938,:.the date of the recordation of the reassessment roll in sai@ proceedings; and WHEREAS, on last said date in the refunding of Lynwood Acqui- sition and Improv�:ent District No. 25, reassessment No. 317 in the prin— . cipal sum of �6,557.86 was levied against property belonging to the Lyn— wood Elementasy School District; and , lNHEREA5, all of the said rea.ssessments bear interest at the rate , of six per cent per annum from the date of the recordation of the reassess— ment rolls in the respective refunding proceedings; and WHEREAS, in all of said proceedings, all of.said reassessments levied on property belon�ing,to the Lynwood Elementar� School District were purcnased by the City of Lynvrood; and PJHEREAS, no part of any of said reassessments or of the interest thereon has been paid and the amounts of all of said reassessments; plus interest thereon as aforesaid, are notiv,due, owing and unpaid from the Lyn— vrood Elementary School District to the City of Lynwood; and � 4VHEREAS, this,City Council appreciates that due to the decrease in the assessed valuation o£ the said School District, tlie delinquency on tax collections, the general economic depression, the earthquake of Il4arch, T933, and the great increase in the number of children attending our Elemen— tary Schools, the Lynv�!ood Elementary School District.has had a great deal of difficulty in providing sufficient class rooms, teachers, equipme and other educational fzcilities'for the children of said district; and ' WHEREAS� in order to secure the necessa.ry funda for the payment of the said•rea.ssessments, the Board of Trustees of the Lynwood Elementary School District hes called an election for Fri"day, June 2, 1939 for the purpose of havin� the electors of the district vote to increase the maxi— mum tax rate from .90¢ to �1.1328; and , WHEREAS, this City Council is of the opinion that an increase in. _2.. a tax rate of said would work a great hardship on many property owners tY�erein; and WHEREAS, this City Council is informed and believes that the said school district has available the sum of �5,500.00 which it could, at.this time, and without an increase in the tax rate, use in making a. compromise settlement of said reassessmenta. NO�N THEREFORE, the City Council of the City of Lymvood, Califor- nia does hereby resolve, determine and order as follotivs: l. That all of the reassessment� levied on ,- property belonging to the Lynwood Elementary School . District in the refunding of Lynwood Acquisition and. Improvement Districts Nos. 6, 8, 10, 19, and 25, having a principal total sum of �8,850.75, together � with all interest accrued thereon to the date of the . payment hereinafter provided, be compromised, settled, liauidated and paid in consideration of the receipt of the sum of �5,500.00 from the Lynwood Elementary School District within ninety days from the date hereof and in the further consideration of the cancellation of.the call of the election heretofore made by the Board of Trustees � of said District for.the purpose of voting to inerease the maximum tax rate of said. district for tne year 1939- 1940, from .90� to �1.1328. This City Council for and � on behalf of the City of Lynwood does hereby offer to ac- cept the sum of �5,500.00 aspayment in full of said re- assessments upon the terms and conditions contained in this paragraph. 2. That in consideration of the acceptance by the � Board of Trustees of the Lyncaood �le�entary School Dis- trict of the�offer hereinbefore set forth, payment of said sum of �5,500.00 and the cancellation of sa_id elec- tion, this City Council does,hereby agree for and in be- hal£ of the City of Lynwood that any aesessments or re- assessments levied against property no�u belonging to " � -3� the Lynv✓ood Elementary School District in any liq_ui- � daLion.or refunding program for the liquidation and refunding of any Acquisition and Improvement (commonly known as Mattoon Act} bonds now a lien on any property owned by said district in any proceedinos had under the �urisdiction of the City Council. of the City of Lynwood, w�ll be paid during the thirty-day period fol- lowing the ^ecordat,ion of the reassessment roll in any of such refunding proceedings, or will be paid during ° the course of any of such liquidation"programe without charge, cost or obligation of any kind wnatsoever on the Board of Trustees of the Lynwood Elementary School District or the District itself, or property now owned by the district. _It is the intent of this City Coun- cil that the said �5,500.00, when and if paid as here- - inabove provided, shall be all the money required of , said School District in payment of all of the reassess- ments which have heretofore or which may hereafter be levied on property novr belonging to the said School Dis- , , trict in the liquidation or refunding of any Aco,uisition ' and Improvement (commonly known as N�attoon Act) bonded indebtedness heretofore created affecting any property now belonging to the said School District. , �. �That the public interest, convenience and ne- cessity �uatifies the compromise settlement of all ex- isting claims and all claims which might hereafter arise, against property now owned by the Lynwood Elementary School District in liquidating• or refunding any bonda heretofore issued under the Acquisition and Improvement Act of 1925 (_commonly called .the Ma.ttoon Act}, affecting property of the said School District, on the terms here- inabove set forth. 4. That a certified copy of this resolution be forthwith delivered to the Boa:d of Trustees of the Lyn- _4� wood Elementary School District. 5. That this offer may be Accepted by reso- lution of tne"Board of Trustees of the Lynwood Elementary School District, adopted not later than twelve o'clock, midnight on Nay 31, 1939. 6.. That the contract made by the acceptance of the offer hereinabove set forth shall inure to the,benefit of and be binding� upon the successors � and assigns oi the parties theretoc APPROVED AND ADOPTED this 31st day of May, 1939. � 4 {�4R�ftk�: • . '�",`�i� �'� �' Ce�il E. unvder � �� ,,,, Mayor pro tem of the Gity of Lynwood ��, �„ � � Rb ��k J . Vr �� - . . J - / AT�'EST,:,.�` � . � � � , �� . �� .41. ti - � City Clerk of tHe`<City of Lynwood - .:��;,,;� `5^ . , :<< ,.. . ., , . . , � . . , o'i','.i'.i Or CALiiPC.:i;`.i j,: � � : : COu.a:T�' J��' LOS :�;TJ:;.��;:�': ss. . , . �iTX OP L`: `;; .iGvJ , ). . . . . . _ � I, i:lle :;[,:�21�1;;eibd C1'i. i;lerli oi G;tie C:L�y Of - ' L;...:rood,.do hereb�= certify t1;at the.a,boae and for.e�;oing . R,:::oletion ��as dul� a3opted Uy the Ci �� C:!��:oiT, of' said' � , . . , ' . , � C:.t�� s�.t a S�ecial ggh�x�;��; r�eetixl;; t'r�ereoi .k.31d in tha Cl �y H�:11 ul sr:�id City, o�i the 31st _;;,, of ,. . . .:1°3 9, and pass'ed by the follo�raing vote: ' , hYL&; CO:TdCILIvi�id:_�hristensen, _Me.yer and . . . ' - - : , Snvder. � � .. _.____._�. _._._ __--- ,�.��,,..�.- hiG�S: COUr I�'One. �� „ � \. ' ,' < ��x . • . . . , , , ,�., r ��1,u�;N''1': OGJidCIL��Pd;_.._Na�i,ciand Lake. ,:w � -... , ._ d .� ' 9' �� .. �. . .. . . .. . . . . .. ,. c . . � 4.; � .Y � �� ( j G �' .. . . . ;. , . ( ) -. 9 . ; . 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