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HomeMy Public PortalAbout1214 (11-21-39) RESOLUTIOT�T N0. 1-214 R�SOLUTION GFtANTING OPTION TO PURCHASE C�RTAIN PROPLH�Y Be it resolved by the City Council of the City of Lynwood as follows: VJHEI�AS, the City of Lynwood has certain tax liens on that certain parcel of land known as the Oeller Ranch, in sAid City, hereinafter particularly described; and NJHEftEAS, the City also owns certain refunding bonds issued on said property in the refunding of Lynwood Acquisi- tion and Improvement Districts Nos. 8 and 25; and � i^FH�R�AS, the City of Lynwood has been negotiating with the record oivners of said propert�* in an effort to either get them to redeen the same and pay the taxes and. bonds, or sell their equity to the City of L�nvrood or to some other party in order that said property may be restored to an active tax roll; . . and _ _ _ VVHERI�AS, the Nowell Building Compan�, represented by Silas Plowell, has indicated an interest in purchasing said property for the purpose of subdividing:.the same and construc- ting improvements thereon; and PT_�Rr�P5, in the opinion of this City Council, such a program v�auld be of great benefit to this Cit3r. NOW, THEREFORE, the City Council of the Citf of Lyn- wced, California, does hereby resolve, determine and order as follows: 1. That, subject to the City being able . to acquire a marketable title to said property . from the record orrrners for a consideration not to exceed �4,000.00, the City of Lynwood does hereby give and grant to the said Nowell Building -1 �"' � Company an exclusive option for the pur- chase of the same under the terms and.con- � ditions contained 3n'`that certain option agreement attached hereto, made a part here- of, marked Exhibit "A". 2. Said property is particularly described as follows, to-wit: That part of the Home Tract of Antonio IVtaria Lu�o and Pdari,e German Lugo in the Rancho San Antonio allotted to F'. Lugo by decree in Case No. 3590 of tne Dis- trict Court of Los An�elc-s County, � California (C1Erk's filed t�?ap IQo. 116) bounded.and described•as follows: On the west b5T the easterly line of _ Lindberg Street; on the South by the northerly line of Cedar Avenue; on the � _ � East by the westerly line �of Lot 734 of Tract 2992 as shown on map recorded in Book 30, Page 78 of Maps,.recor•ds of said County, and the northerly prolon�ation of said caesterly line; and on the north by the southerly line of Lot 691 of said Tract 2992 and the easterTy prolongation of said southerly line. 3. The biayor of tne City of Lynvrood and the City Clerk are hereby authorized and directed upon payment of the consideration expressed in said option a�reement, to execute the same for and in behalf of the City of Lynwood. _ . , 4. The said City Clerk further. di- ' • � ' rected to deliver a certified copy of this . , resolution, together bJith �:n executed copy . ' " of said option •agree.;ierii;,, to .the said Si1as ' • Novrell forthwith. . � AEPROV.ED FND ADCPTED this 21st day'of November, 1939. _ . - : . � � � . ���,�. , n? or f the City of Lynrvoo �.�"', `�.,; a, � .� „� � � : ` • . . . . �,�, .4Yw,r- ' .+r� `�, . 4 ' . . � , . � � . . . . .. - . . :ATIEST: 4 �� • :, . ~'_ �-' w � ` �,a"" ,, > , - � s .,.y ' � u . • �,, ; ;��: ' � � , . �� F � ., ' . _ , ,. ��,� � , �a. < . . 'City� ,lerk of,�,the City of Ly wood •. � . . r• � � �.y � . . . � . . . , ' � � ��' . . . ' . . . . .. . � . • � - . ' . . . ` � . . � . . - • , � a . .. ..��. � �., . ' � .. . . . � ..' - . . n ' � _3_ , . ; ,. , , , ,, :: , ; , . . , . ; `v ' . .. : . . . . . � ; , , - . ... , .. ,. ,!. . , ., .: .. . . - , . r •� � ��.i 1 , � , . �: � . �\ . • ' ». . ,' . . . ..: .Y•• /,+ ..�. .. . . ♦ , a . . '� �' ' ��.. . . . .,1 _� .:.. � . ' .i . .. . .:.. �. , >. ' ' . .` .. .. . �1 : � �� � �.. 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