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HomeMy Public PortalAbout1185 (06-20-39) . . , . :. , . . , , . ,� . . ' _ . ' k . _ t ,'Y».� . . -. - ' . . . , . . � ., � � ' - , � _. � . � . ,-. .. . i . , . . �� - :Fp. . - . . .. .. � . , . ' .� . .. �.t. .. " . � . . ._ . .. . ... t . . . , . �• • � : �. ', a t � ... . � .. . , . . . ., . , n• ,. . . � : . , .. � � , �. �: � . ,. 1 ..; . ' � �' ' '. . i .. � ' f . . . -t . . . . . . . . �.� . � . i . ..., .. , . . ' ' ' ..., .. . ' � . . ..: . . -.. ' . i . _ '� �. ' . : � . . ..�� � '. ' -, . . .,.. .. . , ` . ` � ;.� . .. � : �' . �. � ' . ., • . • . - . � , • : ; . . . ., RESOLUTION No. . � iR5 .. ' .. . . .. , , � RESOLUTION fFF TY,E CITY COUNCIL OF. �`: . '" " '' THE CITY OF LYNNOOD; CALIFORNIA, `.. .,. � ` - ,.. . . , . , _ . , DECLARING IT°-INTENTION�TO�REFUND • . ' - TF3� INDEBTEDNESS OF'AC6�UISITION AND . _ ' ` .. ' IMPROVEM.ENT DISTRICT V0. 7.'OF SAID ' . � CITY, AND FIXING A' TIPt� AND, PLPCE : � , FOR HEARING, �AND.GIVING'NOTICE THEREOF. ' , : . � . . . , . .. _ , , . . . . . . .,. = . � VdHEREAS, the public interest,_'conyenience,.:and � � � 'necessity require the refunding of,the indebtednes.s,of • ` �,' .. �. Acquisition and I�mprovemept Dis.trict No': 7 of the City of • ., , . � - � Lynwood,,California, under the�proqisions of the Refund- . , . , , •� ing Assessmemt Bond Ac,t of 1935, as amended; ; " ' �' ' NO�PI, THEREFORE, 'IT_ IS- HEREBY RESO LUED;. DETERMIN- � . n _ _,.r-rt. .. _.� . ,.:, .. _ g, ,_ .,.-.. e�.. ., - " - ` ,ED A'ND ORDERED by the City �ouncil of the Citg.of Lynwood, . .�._ California, as follows: ' , - - • ".. ..`,., , ..... . . Section�l. .That.the puplic.interest,,convenience, - "_ and'necessity requ3re�the sefunding of the'indobtedness of � ' Acqulsition an.d Improvement District'No.- 7 of £he C,ity of .. ..Lgnwood, CaliPornia,-and it.is the intention.of the City .-. � ,- Council oP said city to refund.said indebtednese under the ,: .� -�, . ' provisions �.of en Act of .tYie Legislature of . the 'State of � � California designated as the Refunding Assessment Bond Act.: . of.1935, as,amended,, and; fbr the°purposa of�refunding . . said indebtedness, sa3d City Council intends to.levy an � ass,essment (sometimes called a rea�ssessn�ent) and to issue. refunding bonda as_ herein proposed. � � - . . ;; ,Section ?.'.That the`total amount of the , � - .' . . . . .: ' � . , ' , '• . . � . _ , .. . _ . . < : . , .,. . � , .. ,. , :-. . . . _ . �y....� , ,. n r. v . - .,�.. . . . , . _ , . �. , , . ,., . . �. . , ,� �. ,� .. �, - .,., � � �.. �: .: , �, �. .. , . �. . . . ._ � . .,.. . � . . . . . . - � - . . - - . - . . . .. > . . . , ., . . ' . . . . , . - .. � .. - : . . � . . . . � .' � .: • ' . � . . . � . . . . . ' '', ., '•` ' * ';' . . . - ' - , , "' . . ., . ,. , .. : .n .,. . . . . . .. ...� - •• - ., - �v .... . ...: . . . . ..:. d �, _.. .,,,.,, . . .. ,. . .,. . .. , .- .;.. , � . '. , -... ,� �.� ' .. � - - -' . �' outs,tending Sndebtedness of said d�,strfct to be�re- � , . ,.. + ° . �° flunded is the sum �of..sixt . orie thousand�.four;hundred . - Y= .. . ,� � •', . � .. • . . � �. . LiSS-�-^ __. .. �. ... ...., _.,...i.._:. . . �'��. ' � �. fiftg-four and':fifty-six hizpdrod%,dollars .(�61,454."56 ),.` • �� �- ' (' The amount of'the ; rinci al,of bonds included.therein �. P .. is � tYie sum of forty-hine thousand six hundrad twenty-three �" ,. .� . .. ,. . , ;, ._ . . . , . .. , and thirtg-eight hundredth's dollars (�49,623.38)' "The ; . amount of.due and�unpaid inter.est.c;oupon9'"inc_luded w� , . . , �, . . . `� ''- therein is the sum of eleven� thouyand`.e,i�r�t hundred� '' • : '; thirty.-one and eighteen hundredths dollars (�"1•1,831`.18).� : - ,. � The amounts�•referred,to in�this seetion are determined as. � . • � - _, . . . _. �; � . - of the date, this reso'lut3on ie adopted... �` , . , . . - .�: . . . . . , , � -. , ,,. ; , . . . . , . . , :. , - 'Section� 3. : Thet..the. total maximum prin-, � , - ` +. � . oipa_1 -amount for which �an- assessrnent (sometimes cal.led _ .• �a reasses'sment) ahall be .le.vied in .the proceedings for '' ' - � : ^- � . >the� rofunding of sa id indetitedness ��is,;°determined rt'o be. ': - � _the.sum o£ sixty=one thousand four hundred forty-four` „ � ,_ and fift�-six hundreflths do-llars. (�61,444.56j.. ... .: _. , . . � . . . . , . , - � � . • • �. ' ° .. � � Section�4.' That�for all assessments not .� ., .� paid within thirty..(30) days:`from -the date o rec�rdirig' , , ... : , '�the as.sessment (except..unpaid assessments upon public ' �property for�which bonds are..pot "to be i�sued�), refund-. ' � ing bonds shall.issue as provided-in:said�Refunding As _ ', � sess:nent Bond Act of 1935, as amended'.� ' Y -_ Said refunding bonds shall mature in.`ten _(10) � •, annual�,series and a'n-even anrival proportion of the a$gre- �' gate principal sum`thereof'�shall be payable on the,'s'ecAnd . day of.July of everg year until the vrho.le . is paid;. the .. , fir.st'anrival series or iristallment being payable' on the `, �, ,. .: �. : . _ :. 2. . . . . . _ . • � . , , . _ "'; . _ `, , .,, > -, ,' , ; ' . i - -�- second day of July.next succeeding the first ten (10) , mo�ths after the date of said bonds, and,.the last aeries �, ` or installment being payable nine (9)�years after the : � first annual serles or 3nsta1lment is payable. Said bonds sriall bear interest;at the rate of five per cent (5�) per annum, payable semiannually , by coupon on the second daJs of January and July, respectively, of each year." The first`interes ahall ba payable on the second da3 of January next aucceeding the first four (4) montHs:aft_er the date of' the bonds and shall be for, the interest accrued to that time, and interest�thereafter shsll�be payable semi.-_ •' • annually on January s,econd and July second, as aforeseid. ; - Secon3 5. The payment of interest accruing . on anp bonds after,the date of the latest due and interest coupona thereof included in the amount of due . and unpaid' interest as state@ in this resolution is to be � authorized but in the event any of such bonds:can be acquir-' � ed without �Ehe.payment of anp,or all of such.interest. it. - � need not be paid.' - " .,- : . � �� . . " ��Section 6,. �Thet the rl3th'� dag _ Jta��v , . . : ,s �'. � 1939; •at the hour of 'i ;a� a'clock, �M•, in'.the aVfb .r� of said day, is the date and��hour,_and the chambers of the City �ouncil in trie City Hell in t'rie City of Lyni^,00d' is the -_ place fixed for the hearing of.ob�ections to ssid refunding. At any time not later than the• hour set for hearing ob- �ections to said proposed refur,3ing, any person interested and any owner of property which is subject to essessment 3. y ' , in the .refunding proceeding may file his written ob�ec- - tion against tho proposed refunding with the City Clerk , of the City of Lynwood. ; An ob�ection must contain.a description of the property i.n rvY�ich each signer there- of is interested, sufficient to identify the same, and � � � ,� , shall set forth the'naturo of �eaCh signer�s interest therein,_and sl�all� be. delivered to said City Clerk at , or before the time set for hearing, and�no other.protests or ob�ections shall b.e .00nsiderod�.'� ' ' _� �. , , . . . Section 7. The re£unding of said indobtednes� ' � sha11 not be authorized unless the written consent of the l 'owners of a majority.in @rea of the land in the district - sub�ect to assesement to pay the principal and interest ' • of the outstanding bonds of eaid dfstrict is filed with . said clerk, and any owner of la�nd in said .distr"ict may file his written consent to such refuncling at any`tisne prior to the ado�tion of the resolution ordering the � refunding._ .. Section 8. The land which is preposed to.be. assessed for the refunding of the outstanding indebted-. ness of said district consists of' a11 such'lots, pieces, or parcels of la nd within said distr�ct as are subject ' to assessrnent to pa y the principal and interest ef the . ., . ...: _. '. ,_ ____ ,,. „_ outstanding bonds which are to be re£unded` in this pro-�'" . ceeding. The exterior boundaries o£ said Acquisition and Improvement District No..7 are described as follc�us: 4. Beginning at'the northwestorl� corner . � of Lot 7, Tract No. 5456, as per map recorded in � Book 59,� Page 66 of I�4aps, Reco"rds of Los 'Angeles • ' . County, Californa.a; thence easterly, along the northerly line of said Lot 7, to the southwesterly cornor of Lot 6, of eaid Tract-No. 5456; thence northerly, along the westerly line_of said Lot 6, to the northwesterly corner of said Lot 6; thence ' easterly, along the northerly line of said Lot 6 .' • and the prlongation thereof, to the northeasterly ' cornen of Lot 97 of said Tract No. 5456; thenca southerly, along the easterly line of said Lot 97 to the southeasterly corner of said Lot 97; thence easterlg, along the northerly Tine of.Lot 96 of . said Tract No. 5456 and the prolongetion thereof, - to the southwesterly corner of Lot 108.of said ' Tract No. 5456; thence northerlv, elong the wester- 15 line,of said Lot 108; to the northwesterlg cor- ner of said Lot 108; thenoe�easterly, along the northerly line of said Lot 108 the prolonga- � tion thereof, to the northeasterly corner of Lot 199 of said Tract No: 5456; thence southerly, along the easterly line of said Lot 199, to the southeasterly of said Lot 199; thence I' easterly, along the northerly line of`Lot 198 � , of said Tract No. 5456, to the southeasterly : corner of Lot 204 of said Tract No. 5456; thence � northerly,.along the easterly line of said Lot 204, to the northeasterly corner of said Lot 204; . thence easterly, along .the northerly linecff Lot 1,Block 1, Tract No. 6474 as per map recorded in Book 71, ' '. Pege 5 of Maps, Records of Los Angelea �ounty, Celifornia, nnd the prolongation.thereof, to the � center line of Lon� Beech Boulevard; thence sout.k- easi;erly alon� the center line of said Long Beach ' Boulevard, to: the prolongation northeastemly of the northerly�line of Lot 239, Tr@ct No. 2551 as said lasi per map recorded in Book 24, Pages 78, 79 and 80 mentionet of maps, Records of Los Angeles �ounty, Ca lifornia; prolonga- thence southwesterly, along e nor er y ne_o tion and said Lot 239', to the northwesterly corner of said along Lot 239; thence, in a direct line, to the north-. westerly corner of,Lot 240, of said Tract No. 2551; thence southeasterly, along.the westerly line of seid Lot 240 and the prolongation.thoreof, to the, northerly line of Lot 325 of said Tract No. 2551; • thence southwesterly, along the northerly line of said Lot 325 and the prolongation thereof to the � northeaste,rl:y corner� of. Lot ,414 of said Tract No. �, 2551; thence westerl�y, along the northerly 11ne` of said .Lot �414 and -Lot.B of said Tract �No. 2551', ' . .. . . j �} . . ` . . .. .. � . � � � � . ' . � . ' . . � .. � . . ` ' . S Z� . . . .. . - .. � , . . ' � . ' . � � _ : ♦ r '� .� �• _. . �. .. �.. . . . - . 5, ' , . � .- . . - _ , , . .. . _ - . . .< , . � - .. ,. , . : ' � . . � . .` ; . . � - . � -, . . �. . , . � � ; .. � - ' . . - .. - ., � . � to the nvrthviesterly=corner-o£, said I,ot B;. ' � thence.southwesterly;, along the easterly line , of Chester Street,. to.the southweaterly corner of said Lot B; thence southsrly, at right an�les , � to the southerlg line of Lot 433 af said Tract • • No. 255T, to the northerly line of the Pacific ' Slectr.ic Railwa� Compeng�s Priva.te Right of Way; . , �.thence northwesterly, along tre,nor.therly line:, of�the said Pacific Electric Railwa� Company�s �: Privato Right'�o.f.Nlag.and the prolongation there- of; to the prolongetion�southerly,of the wester= ' . ly line of State St (formerly'Modfeska Avenue), , as. said State.8trset is.'located�north of :said Paci-. fic Elec,tric. Railway, Company,!s ,Private. Right of .� �. Play; thence southerly, al'ong the prolongation , ' southerly wester.lg line ef ssld State Strest, to.the center line. of said Facific Electric Rail- way Company�s Private' Rig�i.t o_f 4Yay; thence vresterlg � �. • aLong the center`line `of,the said Electrib , Railway Company�s. Pr3vate Right of Way; to the ,• prolongatiorr soiztherly'of the evesterly line of Lot ' 10, Block 6,,Modjeska Park.:as per map recorded in � Book 9, Pages 142 and.143 of Maps, Records of Los ' Angeles C.ounty,,galifornia; thence northerly'elong - � the prolongati,on southerly of said westerly line " � ',of sai3 •Lot',10, to tfie northerly line of said � , ' ' Pacific Electiric Railway'Company�s Privete Right ' . ° of Way; thence vresterly, along the northerlyline .' . " of said Pacific Eleotric.Railway Company!s:Private �. - Right of Way, to tYia ea§terly lihe•of-the SouT.hern . Pac3fic Railroad Company:��s Private Right'qf !Nay; thence northerlq, alon� the'easterly line of"said _. _ Southern Pacific Ra3lrcad Company�s Private F�ght ;of Way, to the northerly line of Tract No. 921 as � � per m�p recorded in Book.18, Pagea 106 and 107 of � R4aps,.Records. of Los Ange�es County, Californi�a; . � thence easterly,,�•a�long.the northerly line of said, , •Tract No..�321 and ths prolongation thereof, to,�. ' ` .the prolongation southerlg of the westerly.line,of ' `.,Lot 43, Block,2,. Modjeska.Park as,per map recorded ` in Book 9,"Pages '142'and 143 of Maps, Records of � ' Los..Angeles Countg, Californfa; thence northerly, - � along the southerl,q prolon�ation of the westerly line of said.Lot 43, to the southweatarly corner � - of said, 43;.,thenco nor.therlg,.along the wester- . �' ly line of 'sa Lot�'.43.<�Rnd �the prolongation thereof, to the„northerly lipe of Norton-Avenus; thence east- erly, along the'norther'ly of said Norton Avenue,. � ``� � to tHe''proTongation southerly'of'tha wes-terly lina of'Lot 51,,�•Tract No<.;5456.as'per map recorded in ''� �' Book 59, Page "56 ,of Maps�,` Records `of Los. Angeles ,' . . . . . {, ' t Y . . . , - � �' � _ ,_ . , V -. �.�' 3 .. • ' g, - . . ' . . ' ' . i � 'A' . .. .. . . , _ .. " . . � . . . . ' f . . . , a. � � , ' ' . . . .. .. . - ._ — 1 . . . �. t, . ��' . . n. . . ' � . . . . . . ' . . . S' :l . �. . . .... - ' . . � ` t . i) . � . .. . . . . . . . . , . . ., . . , ' ' , ' -.. � • ... .� . e. , . . - . '' < ' � � � . . . . . . . �.. . ,� .. _ . . .. � . , . - , . � i : � ` � . . . ' . .. .. . . � County, California; thence northerl,y, along` : the sou•therly prolongation o£ the tivesterlg , ,� lino of said Lot 51, to`the' southw .. corner of said Lot 51; thence. riortherly, along . . , the.westerly line o£ esid Lot 51' a`nd the, pro- •. longetion therebf, to the northwesterly. corner � , . • of Lot 7 .of said Trnct •No. �5456 the �of � ', heginning.. ' . . . . • . - _ .. . • ' .. � • : ,. . `, , . � � 1 � .. . � . . � � .. ' � .. . . . • � ' .. . . . . .. . ' - . . . .� , . -� !. �' - . . . . . . . . . ' � . . . � - . .. � ' , � i�+` .��1��� ; ��: .i .� ��.. ,. . ... � , ' . . .. : . � . ' ... .... .. . 4 _ � _ . . . � . . 0 . . . . . . ' .. . � _ .t.' . . , . - , . `��. •: r' _.�. . '. .. . ... . ._ , . , , . . . . . `�; . , . . . . . , l ' . ' _ . , � . ' .. � �,�'S� . ,1��. a . . .... .. . - _ `.� . � - . . Section 9.-.That-the City.Clerk of the City of Lymwood shell ceuse this resolution to be pub- , , lished once a week-for two weeks in the "Lynwood ' Press", a newspaper of general circulation printed, publlshed, and circulated in said city. Said City " Clerk shall also post, or cause to be posted, copies . of such resolution headed "Notice of Refundin�•and ' Reassesssent" upon.all�open strsets within �aid�di.s- trict. Such:notices shall be posted not mo:e than . , thrse hundred (300) feet in distance..apart and not less tHan three (3) of such notices shall be posted. Such notices shall be posted on or before the date of the " first publ3.cation of sa,id resolixtion. Saic�. clerk shall also mail, postage prepald, a copy of the resolution as published to each perscn to _ . � whom land in said district is assesaed, as shown on tha , last equalized assessment roll of Los Angele.s County, � at his address as shown upon such roll, end to ang per- son, whether oivner in fee or having a lien upon or legal or equi.table interest'in any land within said district, whose and address and e dosignation of the land in which ha is interosted are on file in the office of said clerk. .. . The date of the first publication.of said reso- lution, end the date o£ the posting of copies of such resolution, and the date of the mailing of copies of such resolution shall be at least twenty (20) days 'prior to . . 3- . . . • _ . , . . '. . 8• , .. , , . , . " the,date of hearing here3n.fixed.. ' ADOPTED, SIGNED', AND APPROVED, this 2.Oth day of June ,.1y39. • . � � �,,k-^ � iayor o the C o Lynwo � ' r. „'� �.�', n . �alifornia. , ' � � r ,�r`Z. ATTFST: �'i'i' . . , � � _ ;� :� . J , .� I � � � " . � . . i _ ``�. c�ty c er — of=the Ci y o . ��` Lynwood� California: �SEAL���� � � � STATE OF CALIFORNIA ( COUNTY OF LQ6.ANGEL�S • ) SS�.' • . � ' , CSTY OF LYNWOOD, ,.'( .,_ ,.�� .•I, R. YV. A'NDERSON, Glerk of� the �itg,of Lynwood, � , •r. . .... . . . . California, do hereby certify that,the feregoing resolu- tion was dulq adopted,b,y the Cit�'Council of the City of Lynwood at its ree�ular meeting hold 3une 20 , 1939, by the following vote, to �vit: v. AYES Councilmen t�rtavar_ nriaTannan. SnydPr - andL�ke NOES: Councilmen �ron , ` :�..._ , • - �T : ABSENT: Councilmen Nat on y_ , ' , `� . -- ` y ♦ k a ' �` v�.:.`��- � �: / + y 4- Ci y C erk of the C ty Lynwood, .. ` , -, � CaliSornia. � - :.. � tii: . . . . . . . ' . • - . �• ` � .