Loading...
HomeMy Public PortalAbout1004 (09-14-37) , . .', . . r.. . '. ,. ' . . � .. .. , . ' . . .-., . . ti.,_. . _ r, .. . :r ' ' .. ' ' . . . . . RE50L�TION P10: 100�' . . _. .. _.. . RESOLUTION OF. TI-IE CITY COUNC.IL OF'' • , THE CITY OE�' LYNV�OOD, CALIrORD;IA, " . DECZ6�RIR'G� ITS' I1��TEiJTION T0 fir.FUND ' TF1E IlVDBBT17,li[JESS ' OP ACCUISITION ` �• AITD IPLPROVENfEiV^1 1�ISTRICT TvO. 6 OP' � SAID CITY AND F'IXIl\G A`i'IPv1E faND_., . ' � � • � PLACE � Oft Hr�ARIiJG. . , . IT IS PER�BY ftESOLVED by the`City Council of the ' City.of L�,�nwood, California, as follows: Sec,tion 1. : That the public interest, conven- , � '-ierice and necessity�require'the.refunding of the indebtedness ; ` ' of Acquisition and Improuement,'Distri.ct No. 6 of the City of L�,�nvrood, California; 'and it is the intention of the City � Council of said city-to re£und 'sai�;indebtednes's under the - p�rovisions of an act of,the Legislature of the State of California desi��nated as the "Assessrrient Bond Ref'unding . . , ._.,. ,� . . .r � .�.� _ _ . . .. _ � _ .. .,. , , � __ . . _ _ ... _._,_ _. _.,.. ..._ . . _, .T . .._ Act of 1933," approved June 5, 1933, as ar.iended, and. for _ the purpose of refunding said 5_ndebtedness said City Council � �. intends to levy.a reassesss:�ent and to issue.refundin� bonds _ as�herein proposed. � �` . . Sec.tion 2.. That the total amount��of out�tand- ing indebtedness of said District to-be.re�'unded is the sum • of sixteen thousand nine hundred thirty`'-,fi,v,e and tvvent5r- �even hundredths dollars (�16,935.27) F The amount of the �. principal of bonds included therein is•the sum of sixteen thousand ,one hundred,thi�rty-eight„and sixty-four hundredths. dollars (yY16,13£3.64), ��^1he amount of due and unpaid inter- • T . . =s � est.`coupons, therein is the sum of seven hundred � _ . , w: . ,•..,. 'ninety-six.and sixtsr.-three,hundredfihs dollars (�796.63). � .. �, � c, . . ' The amourits ref`er'red in section are deterr.2ined as . of.the date th:is resolution is adopted.' " J . , 1, . , , , . . . __, . n . . - - . .- . .,. _ . . � Section 3. That the total maximurri principal ar.mount for vrhich a reassessment shall be levied in the proceedings for the refunding of said indebtedness is de- ' termined to be the swa of sixteen thousand nine hundred twenty-five and twznt,y-seven hundredths �ollars ($�16,925.27). Section 4. That ref'undin� bonds shall be issued - to represent an,y reassessment not paid v�.�ithin thirty.(30) days from the date of rec,ording the reassessment, and for any reassessment not paid v�ithin thirty (30) days from the � • - ' ; date of reco"rdation;thereo£ refunding..borid will issue . ' . : . j . , , in the manner and form propicled in said Assesement Bond � Refunding Act of 1933, as.amended. Said refunding bonds shall extend.over a period ending nine (9) years from.the second day of January ne�t succeeding the fifteenth day of the ner,t November following their date, and an _even ' proportion of the principal siz.m of each bond shall be pay- • able by coupon on the second da,y of Jarivary of each year after.the fifteenth day of the next November following -. its date, until the whole is paid. Said refunding bonds shall bear.interest at the rate of six per cent (6°fo) per annur:i, payable sen:iannually, by coupon on the second days . I `�.. of January and July, respectively, of each.year a£ter their� dater IIpon any o£ such bonds dated after the fourteenth day of Pt!ay of any year and on or before the fourteenth day of the follov✓ing Alovember, the first interest coupon � shall become due and payable on the second day of_the next succeeding Sanuarg, and upon such bonds dated a£ter the fourteenth day of November of.any year and,on or - before the fourteenth da�,� of the following PRa�*, the , first interest coupon shall become due on the second ' 2. , , , . .. „ � ;� . . day.of the next succeeding.July: Each - shall represent tne reassessment upon the lot piece:or � , , , - . ` parcel of land.'described in said b'ond,'and the principal amount of each bond 'shall be the airiount ofl:tho �ui.paid . ... � reassessment. lot� piece or'parcel,..of�land � . described in such bond. �`'_ � � S'ection'S. Interest rnaturin� or accruing on • ' the outstanding bonds of subsequent to the � date th•is r`esolution'is adopted and prior to the. date' � ',, the reassessment is recorded is to paid. Said out- ,, , standing bonds interest at..the rate"of 7� per;'annum,. ' payable as provided in',the proceedin�s for the i'ssizance • . of said bonds.. � � `� �5 , ,, �4 � i ` : �: , . �,�.� , . ' Sectiori'6.,.. That the llth day of �ctober, 1937, , . _. ... ... . : ' 'at ,the;,hour of-..7;30 0� clock* P- PIi :,of, said�.'dayy.s is the day :,' a � ` , - , i�,..� �1J 7 r -• aric3 hour; and'the'cfiainbers of-the City Council in the City , . ._,; . ... _. , ' . Hall in the City'-'of Lynwood �is _th"e?`place,, £ixed for the . �. �:�s � . . . � , '�' `. hearin� of objections said refunding. A:t any time'not later�than hour'set for,hearin� objections'to said, �� proposed refunding, any,person interested and any•owner�of •, . ' propertq whi,ch is subject to reass�essment:in.the refunding, �. proceeding may file his writteri objection.against the '. ,,� � , . � propoaed refunding�,"with the City C1erk of City of Lynwood. An objection must.contain a description of the � : ' property in i�rhich each signer thereo£'is interested, suf- . ficient to"identify the same, and"shall set forth the nature ` _„ : . . , . �.. . . � . - � of each"signer'�a interest ther'ein,,and shall be delivered to sa3.d City Clerk at or b efore the .time herein set .for ,: , � . hearing; and no other. protests or objections�shall be con--.. . . .` • . '. ' sidered. ' . ' . '.' ..�. , , _ ' 3. ._. ,. . . . , .' �, . I „ , . , • . . Sectiom 7.. Th'e refunding of said indebtedness _ --�. �.. . shall not.be'authorized tiznless the'writ.ten consent of:the � �;,, � owners of a majority in ar'ea of the land in .the Diatrict . subjeat to assessment',to'pay"`the pr,iricipal� and interest „ � of the outstandin� bonds is filed,"with said City,Clerk ♦. •' � . . - �•; � t . .. � . . . . . . , r _ . � , ` - .. � -. . � .. •. and any owne�r of land in�said Acquisition arid Improvement ' ,. a,. . . r � .. .. . ... . _ , .. ' District No. 6 may,f,ile his written consent to such re� ' . . - . :. T.'.'.. `. . 4� '..: �. �:,'���..- z . . •. . .. � ' .. ' . . . '. - " : ,.�. . � _ • '�.�.. � �. ,..I(.�,.. _ '�.' ' , . . . _ . , '. funding at any time"�' prSor-'to'cthe -adopt'ion 'oE the resolu� ' �, 'tion ordering the sefunding. . � ' Sect,ion S. ,The land r,diich is proposed to be - reassessed for the refunding of, the,,outstand'ing_indebted-, � ness �of .said' A^cquisit�ion,and Improvemer_t District No. 6'. . . consists of al1 such Tots; pieces or parcels of':land withim• � ' said Acquis3tion.and 7mprovement Distr.ict No. 6 as ar,e �-. subject to assessment to pay principal and interest ., �- = of the outstanding'borids which are to be re£unded in this , ' � proceeding. The er.terior bouridarie,s `o£ said,'Acquisition . and Improvenient �istrict No,..6 are�des,cribed as follows;, � Beginning"at tne,northwesterly corner of `,Lot l8 0£ Tract 2794, a5.recorded in Book 28,' � Page 6 of Maps, Records of Los Angeles County, California; thence easterlp along the southerly . . line of Tweedy and Abbott Road to the northeasterly .' • : corner of said Tract No. 2794;��thence southerly along the easterly .line.of said Tract No. 2794 - ° �' arid the prolongation thereof,�.to the.northerly ,. . ° ° - line of .Lot 13, Tract No. 2551 as recorded in • ,.� Book 24, Pages 78, 79 and 80 of Maps, Re,cords of Los Angeles County, Cal9_fornia; �hence easterly ' _ .� along the southerly line of Norton.Av.enue to the �•, northeas.terly corner of Lot 1, of said.Tract No. .- 2551; thence southwesterly along the easterly line of said Lot 1 and the prolongation`thereof, to a ' point in the easterly line of.Lot 193, distant. � , ther.eon 117.55 feet southwesterly of the north-, ° ' easterly corner of said Lot 193 measured along � _ the easterly line of said Lot 193; thence south- easterly,in a direct line to the northeasterlg corner of Lot 194 of said Tract No. 2551; thence a south�v�.sterly along the easterly line of said Lot ` 194 and the prolongation thereof to a point. in the , . , . . . 'y..' i .t...i'K - �y•` . �'� ° .7: , '� . . . . _ .. . . , ` ", 4. � . ; � , -, � � . ' northerly line of Tract.No. 3335 as.recorded in • Book 36, Pa�e 42 of Maps, necords•of Lo§ Angeles County, California; thence southeasterly along' the northerly line of said=Tract No. 3335:.to .the westerly line`of'Spruce-.Stree:t; thence s.outherly along the�westerly line of Spruce Stree,t:to the' � • northerly line of Fernwood Avenue; thence south- easterly along the northerly�line of F'ernwood Avenue to the westerly.lin'"e o'f�Bul-lis Road; thence southerly along the westerly line of Bullis Road to the northeasterly corner of Lot 1, Tract No. 6554, as recorded in Book SS, Page 76 of Maps, Records of Los Angeles County, California; thence westerly along , � the northerly line of said Tract No. 6554 to. tne�north- easterly corner of Lot 14 0£ said Tract No. 6554; thence southerly in a direct line to the southeasterly•corner of Lot l04 of said Tract No: 6554; thence southwesterly in a direct line to the northeasterly corner of Lot 855 . of Tract No. 3172 as recorded in Book 32, Pa�e 90 of �Iaps, Records of Los Angeles County, California; thence southerly along�the easterly line of said Lot 855 to the southeasterly corner of said Lot 855; thence vres- terly in a direct line to the northeasterly corrier of � Lot 868 of said Tract No. 3I72; thence,southerly along � the easterly line of sAid Lot 868 to the northerly line of Burton Avenue; thence westerly along the north- erly line of Burton Avenue to the easterly line of Long Beach Boulevard; thence northwesterly along the easterly line of Long Beach Boulevard; to its inter- section rrith th�� northerly line'of Fernwood Avenue as shotivn on i�ap mentioned Tract 2551; thence ��Jesterlg in a direct line to the southwesterly corner of I,ot B of said Tract 2551; thence northerly along. - the westerly line of sAid Lot B to the Northwesterly . corner thereof; thence easterly in a direct line to the northwesteriy corner of lot 414 of said Tra.ct 2551; thence easterly alon� the northerly line of said Lot 414 to the northeasterly corner of said Lot; thence easterly in a di-rect line to the northrovesterly .' corner of lot 293 of said Tract 2551; thence northerly in a'direct line to the point of beginning, excepting from said district such publicly owned lands lying with- . in said boundaries as were omitted from said district and £rom'the levy and collection of assessments to pay the principal and interest of bonds of said district by Reso- lution No. 322 of the City of Lynwood on file in the - office of the City Clerk of said city, to v✓hich reference is hereby made for a description of said omitted lands. Section 9. Zhat the City Clerk of the City of Lynwood shall cause this resolution_to be published once a week for two (2) weeks in the Lynwood Press, a newspaper of general circulation,printed, published, and circulated � in said city. Said.Clerk shall also post or cause to be nosted copies of such resolution headed "Notiee of Refund- ing and P.eassessment" upon all open within said ,.. , , : .' . , , - , � •... ,5. ' _ , ,� . ,. • .. . ., � . . . . . . ' _. . . , Acquisition and Improvement District No. 6. Such notices shall be posted not.more than three 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 publication of said resolution. Said Clerk shall also mail, postage prepaid, a � copy of this resolution as published to each person to whom land in said Acquisition and Improvement District No. . 6 is assessed as shown on the last equalized assessment roll of Los Angeles County, at his address as shown upon such roll, and to any person whether owne_r in fee or having a lien upon or legal or equitable interest in any land within � said District whose name and address and a designation of �.. , . ,- ,.{, �. the land.in which he .is'interested ia on�file in the office of �:said Clesk. ' � . ' The date of the first publiaatiori of this resolu- tion and the`date of posting:the�notices hereinabove men- � _.. •.�.' •Y•• �, �.. ... � ... • . ' . tioned and the date of mailing copies of this resolution , shall be at least twenty (20) days prior:to�the date of hearing hereinbefore fixed. ADOPTED, SIGNED AND APPROVED, this 14th day of �. 1937. ' � ' �. � . _ �, ^„ �. � r. � ��-' � ' � — �y -.a . �_ � : ,.E ..% . ` . , � . . �`" �S` ���, �; Mayor o he City of Lynwood, ; . f California. �' ,. _ '..l - 5 . . � . . . Atte .;-y, ' �,,. � , _,,_ City Clerk of the City of / Lynwood, California. . fi. . . ._. ; : „ - . - . �.. . . _ . . . � , STATE OF CALIFORNIA ` ) , ' : • ' , COUNTY.OF LOS ANGELES ) SS. � . • CITY OF LYDPNOOD �. . . °. , . I. R. W. ANDEftSON, Cit� of the City of ' � Lynwood, Ca].i'£ornia; do hereby certiPy,"that'the above and, ' - foregoing resolutiori;rvas•'dizly adopted;by� the' City Council • ''' ' . , ad�our.ned • . of the City of Lynwood �at'it�r'eguTar held on the , 14th day°;of September,, 1937,��by the follow�.ng yote, -to wit: - ., . . . , . .,t . ,_ , AYESt Councilmen Lake. luleser, Nation and Boster • ' � . .� � ,,�k,...x � ' �� . � ," ., .;... . . � � . . ': . ..»:;� � • : NOES: None. �" " ' � :.: ,. �"' , . , ' M y„ , °. ,. �,... �_ . . � � � � , _ _ , . � ,,,��, ��;ABSENT: Councilman Snyder. ` ^ .`+ s A�; ` : . s �. , � �' 4. , ,�n� �";, _ . ' � r r �- ,. . � � �•', .^`' ",; • ' � 't �, y City Clerk of the City of� i �^ � ,-� � Lynwood, California. �, . ,. . „ ,T • �. . - � f .. � .. � . : . _ �' . ' . . ' . � .. . . . ' . 'r ' � . _ . . ' � ..•' � .. .. � ' " .'. , .. ' . . . . . � .� '. '.. .� . ' . . . ' � . ' • ' .. " � ..' . . . _ . ' . .. .: . .�y.� • .r . ' ���_. ' .� . .... .. . :. ... �. . . �'. ... .• . . .�. .:J.'. . . � . .� . � ,, . . .i .. �):�. � .. _ . . .. , . . . . . . � � • • . • • . � � � ' . . " . . � .. ' . . . .. � _ . ' ' . . . . . .