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HomeMy Public PortalAbout1225 (03-05-40) . l � . 1 � ' . .1'�� . ;..'�� � Yt ' � � ' `C .. 1 . t R `'.. a . . �. y. t ..�: r " ' ' . _. �/ ♦!'' x ' t . r `c, ti � . *' . * ' , r � t '' � +-- .'.�,�^ . . � � t �� �`T �' r... �, r .r.., . � i : t .a �h ` c � � !' i, e ..+., y ... . _ .. , ..%� n -: .. ::' . . _ . " >/�, �; ;, r e �. � ,. ... a.- ,. a � r ,£* � Y a. .�t . , - . , .�, y .. , r � � r x. . r ' '. : ' . :.::.: .. R c . �!.` F s. , .t. `...' � . ` � � e e.. .r: i > > ' t '. � . ' ', _ ', � . _ , _ "� � a �� ,<o� , e• f.'. t' 7 .. y .. t . ," �.,. , . : .,, '. . , . l�` . � . ' ..`�r v � - •• 't ^ 1 � >.i n. �� � .4�1_.'r V . i: R' + .ai 16 4 -:i4� � ' A :^xti 5 `. •. � RESOLUTION� N0. ?1225 , " � ` 4 x; � � t :, � � � . . . ,' ,,. , , 1 _ .. ; r ' � i _ *q ,:.' ` . S . � ..� . .t �.;". ,., "� .i.�� .,�' i r_ : ` : � + ` , . ' � "' e'RESOLUTION,OF-,TI3B .CITY OF. LYNYVOOD`REQUESTING ` ' a > � BOARD OF:,SUPE�V�ISORS,�,'OP LOS ^10 � ;' �` " A�T,QCATE .TAX�FIINDS TO �AID -:IN.: CLEARING,,.'f �.. - _' ' �, LXNtJO,OD ACQUIS'ITION=AND .IP1IP..ROVF�It..NT, DISTAICT °`. +� '� �. :.. .. •, E NO'.. 20 I�I THE:_CIT� OF. LYNVd00D. � a ` �''F Y� �' � � �, t.... ,•� ... + , '�, i ' .� '"s: �r b ' ��,�, _ _ - . . . . ,. . . , . � . . '_ . . 4 . ,. , .. , t -. � . . . ,. �.�. . .. -.. � . . " ,,' . • _ . �..�. � � .a�.,. :- ' ' . � . .., . . - �Y , . . . � _ . � i ,,.. .. ... :. '� :�.r �.,.': � . '' ' " :,` • ,� Be it resolded by the City Council of ;'the bity of;�`Lynwood• '�' � ,: , r $ . t, F _ t ' 4'. + ..1: � as �-follows 1 . ' � �r ' � , i . z -' � $ �* WHEREAS, there`are bonds outstanding of Lynwood Acquisiti�on , , "'' ` - ...'. ..,� �,.,�'.' .�,.. ':' .,: .—. .J P . } . ar�l Imnrovement District No. ��20 in;t total principal� amount oP �,: ` -,- ��. � . „ :� �.. - , : . ' � �81;233.&1; �'oP �37,500.00 are `past due, togethor'�v�ith.�due aiid ' ,; � , : .:�. . -."� ,� + . �..:7 ' � -':'; ' " .. . . ' .� . ' �4 n � r � . . :: ; , . .,. , � . . : ,. � „ � , tinpaid, iriterest `amouritin� to,:.�30,836.34,':;and ,.r ` "' .. aµ . ;: x L ' :. , ,.. . . . , . ; . . „ .. .. ' . . r, . -; � „. . r . `' ' ' WHBf�AS, be,cause�oP the natur�e;'of the;�said the'' �` ,�`'z. ` � �a � ' , ,, ; .. ,,. . • � w -� �.• . �' �' - ..e.._ ..., ...,., ..�,� ... . ,e ; i ."i , : .� ;, huge out"s,tandin� debt `and the delirquency..thereof, the : r,',: �=` ,. „ .»; r s t- .:' _+ �, � .:... � within the district are of practically rio.:value;-and v�ill remain in � _° , . � � , ,,, # t .,;, , . � ; � k. + ' . �� ° that conditi'oii' unti 1� a liauidation„�of said bonds, and = =:. , ° t ' ?'# � t �. � � :. .. ". Y 'l : ' .. .'. � . � . ! n '.. � 1 . .: V .� � � . ., t � i ' l ��� ` WHEREAS, more than half the totsl assessed value o£ , � K �..,_ . - _ :;• :'• i :;• ... ;, .. > ��. - , � ,i ?' . .;, � . �. � �. r s �, � . . ; � � -. . •property.'in said�diatrict is'off `tYie tax rolls �by reason oi' nonp�y- 1 , > .: .. , . ,:, , •,.. .,. ,. , ; : ,.. t. , ; . , ^ , ` '..ment of;taxes and assesament"s and',other propert are'rapidly being' ' , , ., ... � �, ; f : .., , : . _ ,. `reinoved� from' tHe tax rolls for the:�same reason � and ��� ' '� i` �` . f , + ,' . f' �. %�D q ',.: . �,.•: ' " � •.���. '.`� �_ �;/`i � � ".,'.r ff,�... � .. . : �. . ,. l+ .• .:•. ,, � :. a � , : ,YVHEREAS, the.assee§ments in said';dietrict, which , , � � . : ,. ; . . . . . 5 � . - ' � .. . � ' � ( . �..1 : I Y.. .: 2 �, ' :3 !. : ' .C., ., ..�.' . . . �� assessments have been levie,d.in a�aum much lesa -than the normal re"' y' - - :.. -. , ... . , .,, , ,:�. � _, . ,� � quirement:of the,diatrict eaoh year�, have�been £rom forty seuen per� ", . , , , , r r�,. , � �. . �. .' - ` ., r 1� � ° � �T ,, . � .., ' • s;: A .e .Y , ..'.. _ , . � }: < ..cent to ;ei�hty.,=five per cerit' delinquent, "and , �.ri' �.. ^'+ +.......��:, b.. r_ . �.. .�.' .. _ :,4ti,i e„ _• . . . 1 . r� � �- . ... . ... . x .� .j .. .� . ./c ...... ^r . � ' � `" `VJE�P,EAS,.:a1]. the5bonds of_ said,�`district are.`nov+•and for ' �" � .: . A / v- . 4t : �. t .^`4. .i' �. ": ` ':r .V ../. . .. ,�.' � 'Jh � a :,- ��.., � a�'� � t J: sariy years have 'been hel,d by the Pacific'.• States and 'Loar ,� x tlompenp, and the Citp-`of Lyn�vood hes been unable, to d`ste, y to enter .. � 4 �. �� r. �. .. + � . . . � � � �' � .�. � into a program for'` the' li,qui'dation�`.oY the said" bonds; 'end " � -, r . � F . ,_ . r , ,, , . , . , , . . . °. ; � . . � ,,' ;"' � � tNHEREAS, t•he said-Bacific�,3tate� Sadirigs,�,and Loan .Comparig -�.�� !� .. � i . . �. �. �. .�_ µ .. � � � .` k 1 = t . ' y ' . � j .. ' f . �; j• , was� taker over-,by,the,Buildtng snd ,Loan Commisai�oner of the State. of �� , � , r:. . .. . .� , � �' Caliiorn2e on Niarch 4,: �1939;�. and , :`, � ��=' ` �,� � ,� ° � ' `. � 'kr ' . ; • ., o - 6 . � . �� , :� �� y�� i'; 1N�REA ., . � ' S, durin� the past+=several months the �.City of Lyn �` � "� x . � � � �r� � � . r � + -. � Y _� " �-5' 7 a ° u . > � x .� a/ ''a ( � r _ . . 1. .,1 , , `�,.. �:: 't .'. y f . � �� � . ' �: . :� ' ; . ` . ,�-. . - ' � 1.... ' . t r � � . � . K � , a '.-�". ��, ,; ^ J f � ° � ��' s �u - - . . . . . ..__ y .: �.. .��� � t ' � . n '! r, � � i �" i . � ., , , r. . 4. . ��� v , . . . , . . .. . .. :,.. . �r :,, : . , 3 �.., . .. . , . , . . �. .. � r t :e•p, . _ .... ,. . . i .... .. , ya �t . . , . , . . . + r �, . . . , � . � . , ; 'f ,� f j � ',:�' � � Y '+ � � �s � :.^' � . �.� . r .�'t..��t. r� y �.. . y K k 2 '` .', + t / I Y l ' ' F ' 1' � J l 1 • 11rt. f 4 X1 . 4i� ..` .J: �,' r� a d�F �,�� n �, ��� ''( q i:� � ,` Z a t r y i i... ! t . 3 � • n . ' � �. �' . ' S � � . § . � . t y ' . � f .: ) . _ . _ . S 3 .� ( f . . y'::y s `::� F �.:� � .. � .�;�^ � -� 2 r � - N a..��7 �- a. �� �. � � . si r f t : t .) ��,{w ,�. 5 � ~ �?' 4 p - i �� ' � � � e�? L . � , � , ...o . .i .. � ��. >�'.,; t �i .. ..y. i i r �ri� R..� ,�;,t �x. ".Fa�'.,� i 7 C f�: , :' r ;. .- ��' �` .-, �'^ :. r' ` -, y . � ti �;� � �;: ,� mood hasreritered�into ne�otiations with Norman Chureh,;who is�the ,.. �h .:_ �7 �. � . :. t �, ` -� 'r` ': 3 � � � r'' �' t � � � " _ �ustodian of the';asseta-<of said Company, andrwitr�the Building-;��fi �, <.: , - , .. . -. .. � .... :�� .d. . t? .� 1 .. . � ! �' .. ' h .. ,, �and�Loanf�Cor�missioner snd the attorreya for said'.Comm.i"ssion�."in an.�' �'�' � Y' ' r . .. r :. f a , y . � �;� �t 'g �"' t{ b; f�. t F` f � f i �^� �. .' , .. �' .,. ♦ . z effort to develop`a satiafactory program�£or the��liquidation of the + ;;° � t d � �. J t r ..� � � f• �� �, L e f i� ' { i�, M e � x �a �' 11F�:". � � � � � � t 3 � s eaid. bonds � and { ° ` = � i� f� 4 � I �` N�' Y . . Y+� � .S � �i� .si .«!. a t 1. . 'i _ . , . . , F ,°.WHEREAS; it appears, that it� will. posaible 'within the '. , . . . , , , r �: �, { F" _,; ="�fisoal y'eari 1940-41' to"reach` e� satisfactorq dete'rmination of a':z +-�� , ,. , . . � : .` , ..,� � ;'� " '.,k ".�. � l ^ �:.. . �. � .� �er,. `. �•+ .:� . ..policy and;;prograin, ?��hi.ch •will` result�,°int.the li,quidation.'of said �tiorids � �� � F ' . . r � "`' . z:.�� U �. '� � f�..� ..,'. .Y . i r.' . . t ' ..' . , at �a price , which,will be satiafactorg to� the „said� Compariy, thsl , �� ' > � . r �, < , �'�,. � , t _ � � ; :. ..- r .., ', x; � ,,, property�ownera of said distriet andnthe County Los Angeles; and ! � a F ... ':. ��" � r ' , ,: �,� � .'. t � ' "� � .. ., 4 . .�+ � 9.:' � ;, ,, , t ,� ., VPf�EAr,AS, said,.bonds were issued £or the Acquisition' end :+� 3'��, .'M�'� >. `4 •.Y.[,. 9 .5�. Y wy'� �^ �.. �_�; ++°',V Improvement! of T�weedy 8bbott end said`,.improvement'has e`definite • , y . . � _ ., ., ', =' , ' ` ,--� public interesb'.�ea deter.mined �,by-�tlie„"AB" Plan of.. epecial assess ;� ,. `a. \ ♦ � : a � � ':' .. � . ', Y � .. ; .� ..� y � a ` �ent .relief.; heretofore'adopted` by the Board of :Supervi'sors of� Los �T � ' � �g� t y .. �� i a ,�„'� ,�.. 1 .;K i ' ' S � : y .� r �. 6nge'le s Coiinty, and ` � ' � ' � �', � > R, � ` ,, ': , „ . , . . p:. �'�'� '• .. -,1 �" � _,. � i _ . '.^` r� � . < �... � � t � . .� t �. ; �. ,i .:.r� � .. � i . � t r � ' h , , , ;44F�REAS, by reason',o'f, said=publi�c interest said di'strict,is �' . , � 'r. , �. . ."1. rr�) .. :,S . ' , . ... ... � �.. �erti.t]ed-to Gas 1^ax Funds in the,liquidatiqn of, the bonds thereof, ' , �, _. . . � x R : � pZ, x t . �r.� � °� t r � n .:{ y .'r t . . _ + � ' � . � � ° � � , ' ' k c ' ' � A71d. „ � �x � >. s , �,' �,,.��� x ,r � r .��. , � e ' r . ,i ,, � : _: - ,- . . . ., " �' '�'-�'� � 'WFIEREAS; it+is necesscxy in negotiating with,the ,bond , ,: �"�, , � � : : , � ^ � ., � � � � � .. < % '. � x; ,. ., . ., r.oiaer$ of�°'sa�d distr3�ct for us to Yiave some estiiriate of the �amount :� , �*,,-, r ° '.�' g ' .;i ;= J.' H � ..�u � :`, i :; : M 3 i�c� ) �, �� > f4�t,.� � . f'.. , of : gas tax•� funds: wl be made avail'sble by, the County of Los "' � . � � .lYa 8� �" ... � . .', j� �l,rt. . �`. t' �� .�:F .: � 4L � �� � .. ! F : 4 y `les in:said liauidation prograia.: � " ,° s a. r. �•J� t ,.` . T i�, ,r �.,�>i 7 c } { .�� e�;� � i� ' ' N01"�, THEREFORE, the City CounCil.o° the: City of Lyn�rood does '; V' . : j � u t. . roI q t ..� Y bu � .� K f � \ , F ��� " ' � hereby�resolve,�deterrriine and: order;as �follows �� � , ' ,_ • . : - .�� x �� `, '�""` �"��� { ` � •'` . � � .� . -• ; ' .. ': �;.. .� : .>� �, < . . y ' "�� "� _�> +': , �` l:; r Tha.t the Boardrof= Supervisors ;of Los' * �'��, , ��;�e.� # � {:,, ,r . , • ; , ''' ' � � °?:ngele's' County be .`:e'n'd tney� are hereby earnen`t1y ' ' r , • ,� � ,,, �� '• � , • . � , , petitioned and requested to determine the maxi '` r, '_ q_ , ,� r c�., a;.� � . . k'� � '..' s iw �..: � � i"-;.. r � .;�, r a� <. i �.. ,. .� /: ., " 'mum amount of gasoline,tax�mone� which would be � ,�' ., r ,:}.� r r , t,, r . u . � t :; .�- ` ; �.:. t " „ .� .:�. �u,,. = , z ,, made available in the liquidation of� the bond's� of � r "� r ', � :'. ` 1 , ` '` . ' 1 '. ,: '' . � . :5 t � ' ,� ,; ti ..' f � , �1.' , . � . .. . ' . '. , . ♦' � ��� ' '�� ?Lynwood.Acquisition:ana Improvement vistrict No. 20`� ,� � t ,`;• , a `: �.. ._i e �.' "', � 3 �� � 7 e ` :�� ao F � *f * o� u,Y� 'i ..� r . .{ � i, s ' t�� i .�, + � .x �' 7 ,. 4 � ;°' � `E ; �a.which �sum thi's Couneil beTievea should not be : less,, .� , ,;,,, �� ' �� � . �^ �. � � a +� � . 3 . ; � 9 t � 9 ➢ �.. � . < .� �r �` � I � v� `5 L� a. a: a � A° af`� � fr �ti � i 1 � 4,�b. 5... � '-'�' .x. ;� .; J � n� a.. r r.'� Y il� 1.� � � �, � � F . t' : �. . 4 , �: � v :�. � r �u . ., � � . � ,. t w :'" y•i .�:�.-. :...�l� �i�����"' .��. � r^�C t�d s"�t'�.t � � l �� � . .. .. t , .. .�.i � 4.. ' �� ,. i n ti' �" r i. ^f �..2.i .t�� .�i � + t °i � 1 s t � A .' . . � ..� �f . ` . .. -'.� � 'erv :�' j! t ta- ;'S d... .�t r � t s , ',:: 2'.r . �.. ,. a e 't. ��` '��:� � . ,., � p, r ,. . , . .,� .� r._'` . . r r > " � ,'f � - d'. . - K f ;d� a 1 t Y / 1�� t,�`.!" : fa ,. . s.:.'. y<:. �,,•� .. . � "! .. 1 '� t I a i- '�+ � r ��i- d t r � c�a. , r a �. s t¢ .�. e .. � i x i ':l t :c:;, ' � ,� tS �i f� ' � ��� r : q; . r ` ; ' ^.� r f *_ s P ,..F � i � � i � �t� �!��.ty ' 0' i + lt l., '� q va V i �` i r _ .. .: 4 � .. t , • . 4 ' .. . . � : E � 1 . Y 4 4 . Y 1 _ /' � -� � -� � ',� than �50;000.00; and to aet t�p`s definite'�,sl � ��� q �r: = r :* � �+'� i „ r , : � :,� locatSon�of ,the:,amount' tYius .determined in. the ' ` ' `,° t t �; : , � � .t : v. , , �,.. i � , • : - ":' , ' ' Lo's Ange3es County bud$et�for the fYscal'year ` � '` :, �, : . . � � t R ,..� '7� A���.: r rv� �}.v " x� �. � 3. i � t • �, . , k : s r � ti ' i .. h � . "a �,. � ,,. ' ° ' 19,40 41.` " � ' k:� � � , � y ,. .'�'n "f' r r':' i.n y:� p . s -�♦ .. ^�. � A. � ,.• +` 1 ,•,: . + _ �.i ` �C w ° ' '' i ' � � ,. ti` c � '� �� 2. �.That a:�,certified� copy o£ thi s reso + � s , ,. _ ; , � ,. � .� � ' ._ ,,: :, � 1;;� r t � l�.tion be forthwith` de,livered to arid file�d�vrithi,i` ,� �� $,� ,° �;i. .:.� . -�� �� � , :.. �:.� .:. " , ..: . �x �cr � �` ..� �� �-. the Clerk o£ the Board of Supervi;sors Fof `-Los .;� . . ... • , . ;: � ,. : .,' « ' F .�� i , .�: . ..: _ : �. � , .' .�,� J i -.�. :. i.• ,: f � %.�: wy r � `Arigelea ,�County' and that a c'ertlfied copy+: of this „ + �. ,' , , , � ,., ,,, �. ,_ ,, � � ' -�' 4 � � resolution Fbe del3vered t,o -each member of the �$ r�; r � , . , , � s ;: ,. y t„ ?•t, , � u � �• � f�; ..,Y � 99�CI B08PCl�O.f ��SUpBT'V3.30P9• � `> r ' .. '` 5 � "�2 r �' ' . . V � t 5 .. + ,� 'i` F . . { �. i .. t �.. 4 M '}i t . ay �+. . .rr , r. . . . ,�� 'i' - r . . . �. Y J }}J 1 ' = i z . �.Approved� and adopted th$s Sth da� of Pllarch, 1940. � r: � } k " . - ,� , , A �,' a ' r "t , � � � ",� , � , _ � �� � � , �, � i"_ � � � ' , ; , ` �� � � . ,h z � r r ` u �;� ;�� , � LL..}vJ; T1A �: ' • � "� , �'= �.��� , ' ; t a �oi o he C _ty ynwood' '' , r 7' .+.3`� f �! r i�� `'��d!'y� .�' 4 A . � .. + 'ar a S , t�nc. { � >�'� W. � r � ��+ ' f �(�,•� l f V�I t v S _ { ' .5. Y U 4 1 f�� � 4.� 4 �i � �� � .K� 9��"�'� '� .' .� t �- . .. i � > ' v � ' �A1��..'ST� �<c �r���� +E f�' s:. .{ i� . L• v ; �t � p - . '.' S 1 � t k., ' ' i � Vi �A:� 1 ' � : y •� `� 4 « • � � � � _� � / � �r � n ; . i i���' ^ , �t t. ' f F . . 11 �[ �. �'? �A �, � t �� �c x•*� '' ,l ,`n s., t .. r �' ° � � City C;ler of a the Gitg of Lynwoo� � �.r� � 'r 1 `+ ��~ t v �U.✓.' �..��`�'hf'^`.� 1 �` +w v: �F i �y :�+a� �,s r n.� }h $ r �.c, � ry:�^� r :2�. , . , s� : p ..'n t' , d �' � ;. i t . .� . ,� i ' � i a1* ,p . - � v�✓ti` . i . x ._. .. �! �. �5 r . �: �± c � - + .�!.. t . t W d n �fL F i .� 'y z � ' t } ..'� t : " E � i� a " 1 _ � � rc2 - � y �.n ` ! ���� / ,si `' ' � , � � � .A:: 1 � k � `� r aT � �t' a r �, x < + � / :^. � � t * � � t r '' Y n Y�f � ° � ; � �' n .� �.��` r r �.. � � ° * 7 , ,� y r y . � ; � a ,� -. ] F' � 1 , �., ..� .,� . . �_ � . ^ ' � � ! '` � -" �r , .., v. . ,. r t .' ?er r. � A� �: � :.s r , �.r s 7 . F � 4 1�� ) � �,� � � '� • .1� ,r : r � . : � , �z a y�?_ �F t ��� � � '�K � � 1 't , n T � . rV n " � � f J,. ! d � tH � � � � � ��'�' 4 � } ^ . e D t Y rafis i a2 -,p ... Y S � �. � t , t i t ?. Y ; i , J y � � � r i . � p � .3 ( f F t �� � t � ' 4 ° � .. 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