HomeMy Public PortalAbout1005 (09-14-37) • ' . RFSOLLTION N0. 1005 � -
RESOLIITIOIQ OF THE G,ITY GOUNCIL OF '
- TFIE CITY.OP', LYNGV00�7, CALIFOHNIA, ` • . �
., . D�CLARINU ITS 1TIT�,'TITION TO REFUND
• TiiE INDEBTEDI�ESS OF ACEj
AND � IMYROVEMEPdT DISTHICT• NO.. 10 , , •
, OF'.SAIll -0ITY AP]D FiXING A TIME
. ' AND PLACE FOR H�ARl�QG. . ,
�� IT IS H�REBY RESGLVED by .the City Coi�ncil of
°.� ' ,tha City.of. LynNrood,,California, as follows; .
, , Section'1. �That tho public�interest, con-
venience and necessity reqixire the.re•funding of the iri-
`,' debtedness of Acquisition and Improvement District No. 10 ,
`•` ;of the City of Lynwood�.Oaliforn'ia, and it is,the in-, �
�' �te'ntion of the City Council of said city to.refund said
� �.' � indeb.tedriess iznder the. provisions of an act, of the ' .
. ,
Legislature of the State of California desi�nated as the '
�'Assessment Bond of 1933,"�approved June 5�.- ,'
,. 1933, as.amer_ded� and for the purpose of refunding eaid ..
-
', indebtedness".said City.C to levy a.rea'ssess- "..
.. ment and to 'issue �refundirig . bon�s . as herein proposed. .
',Section 2.'� That tYie total� a*nount of outstandin� ,�;
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- indebtedness of said_District tc'be refunded is.the sum of '
-forty-five'thousand-„'six-hundred nineteen and,.ten hundredths
` ` dollars (�45,619.10). The amount of the principal"of
, bonds included therein is the sum of forty-one thousand
nine hundred seventeen and seventy-four hundredths dollars .
. '(�41,917.74). The amount of due and unpaid ir.terest
,�, . �• coupons included therein is 'the sum of three .thousand seven
�, huridred one and thirty-six hundredths dollars (�3,701.36).
' � The.amounts referred to in this section are determined As ..
., '' of the'date this resolutiori is adopted. _ ;
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S'ect•ion 3. That the total maximum principal
amount for which a reassessment shall be levied in the
proceedings for the refunding of said indebtedness is
determined to b'e the sutn of forty-five tPiousand six ,,
hundred nine and ten hundredths dollars (�45,609.10).
Section 4. That refunding bonds shall be is-
sued to represent any reassessments not paid within thirty
(30) days fror.m the date of recording the reassessment�
and for any reassessment not paid within thirty (30) days
from the date of recordation thereof a re£unding bond:. ' -
. will issue in the manner and form provided in said assese-
ment Bond Refunding'Act of 1933, as amended. Said refund-
ing bonds shall extend over a period ending nine (9).years
from the second day of January next succeeding the fifteenth
day the next November follo�^�ing their date, and an even
I annual proportion of the principal sum of each bond shall
� be payable by coupon on the second day'of January of each
year after the fiPteenth day of the next November follow-
ing its date, until the whole is paid. ,Said r efunding
bonds shall bear interest at the rate of six per cent (60)
per annum, payable semiannually, by coupon on the second
days of January and�July, respectively,,of each year ,
after their date. Upon any of such bonds dated after the
fourteenth day of May of any year and on or before the
� � fourteenth day o£ the following November, the first in- •
terest coupon shall become due and payable on the second
day of the next succeedinb Jar.uury, And upon such bonds
dated after the fourteenth day of November o£.any year
and on or before the fourteenth day of the following P.�ay, �
the first interest coupon shall become due on the second `
. � . "
2.
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day,of the next succeeding July. ;�ach 'refunding bond
shall,represent tYie reassessment upon the`lot� piece or �.
� parcel of land described in said b'ond, and the.principal
� amount of' oach' bond shall be'. the amount .of tkie unpaid_ : '
reassessxnant upon the lot� piece or parcel of,land
' ' described in such bond. ;
" Section 5. .Interest matur.ing or aecruing on .
the outstanding bonds of said District subs,equent to�.tho
dat� *_this`.,^ resolution is adopted and prior to the :date
the reassessment is recorded ia to: be paid. "Said.out-
-, standing bonds bear interest at the xate of 7: per annum, �,
� payable as provided in the proceedings'for the_issuance y '
' of said bonds. , � '
. ' Section 6. That the llth day of October.,l 1937; '
� �. . `at the hoizr 'of 7;:30 0� clock Pt M., of sai:d day� is the day .
� and hour, and the'chamber's�of the�City'Couricil in'the'City •' "�
,_". Hall in the City o£,Lynwood, ie'the p'lace, fixed for.the
hear�i•ng of objections..to said refunding. A�..any £ime not
' later than the Yiour' � se.t for.hearing ob jections• to: said,
proposed refunding,.ariy person interested and,any.owner of
pro,pert,y ivhich is sub ject ta reassessment..in.the refundin�
proceeding may. file his wr ob'�ection against the , •
,proposed re£unding with the Clerk..of the,City of
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Lynwood, �;An• ob jection must, contain. a, descrip`tion of the
property in which each ,signe,r, thereof is interested, suf--. •
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ficient to identify the same, and ehall set forth the nature�
o£ each signer's interest therein, and shall be delivered
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to said City Clerk.at or be£ore the ti�e set for �
' .hearirig,.and no other protests or objections shall be,con-�
� sidered'. '
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° Section 7: ., The refunding.of said indebtedriess
•. .shall not be authorized unless the written�consent of the
. owne'rs of a.majority`in area of the land in the District '
subject t'o assessment to pay the'�principal and interest
of the, outstanding bonds is filed with sa3d City Clerk
, ' and anq owner of�land in said Acquisition and Improvement
�. District No.'l0 may file his written consent to 'such re-
.- £unding at any,ti�e prior to.the adoption of'the resolu-
'tion ordering the refunding. � .
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. Section 8.',;The which is pnoposed to be •
.,
,'reasse'ssed for..the refunding,of the outstanding indebted�
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. '` nes's'of said,A`cquis3tion and No. 10 '
consists o'f alY such lots, piecest_o'r pareels of land,within
�a - ., . . . :
:' �' said Acquisition and Improvement District No..lO.as are ,
_ subject,to assessment to pay the principa7, and•interest �
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�.�, ' of Ehe:outstanding.bonds which are to tie re£unded in thie
proceeding. The.exter.ior boundaries of said Acquisition ,,.
and Improvement District No. 10 are des as follows,t -
'. Beginning at the northeasterly corner of I;ot
1311 of Tract No.. 3351 as shown'on map recorded
, in Book 37., Page 2 0£ Maps, Records of Los,Angeles
' � Coun.ty, California;' thence 'soutfierly along the •
' easterly 1Yne of said"-Lot 1311 to the southeasterly.
corner of said Lot 1311; then westerly along<the:
northerly.line of Lot.1358 of said Tract No. 3351
� � to the northwesterly corne'r.of said Lot 1358;.tihenca
,' southerly alon� the westerly lirie of said Lot 1358,
. a distance o'f. 50 feet'to a point; thence easterly
,. and parallel:t'o the northerly line of said Lot 1358
to the easterly line of said Lot 1358,•,thence southerly
' in a direct line to a point on the easterly line of '
... Lot 1359 of .Tract No 33a9 as shotivn_ on map.recorded� :�
� in Book 37, Page 33 of Maps, Records of Los A�geles
' � County, California, distant thereon 50 feet £ror.m ,
'., , the southeasterly corner of said Lot 1359; thence �
westerly and parallel to the southerly 1'ine of said
Lot 1359 to the westerly line of said Lot 1359;. .
thence southerly along the'said westerly l'ine of. '
` � Lot 1359 arid the westerly line of Lot 1384 of said• -
Tract No. 3389 a distanee"of 100 feet to a point; .'
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t2ience easterly`and parallel to.the riortherly
line of said Lot 1384 to the easterly line of
said Lot 1384; thence southerly in a direct
line to a point on the easterly line of Lot
1385 of said Tract No, 3389 di�tant thereon
'' 50 feet from.the southeasterly corner of said �
Lot 1385; thence vaesterly and parallel to the_
southerly line of said Lot 1385'to the westerly .
line of said Lot 1385; thence �oiztherly in a
direct line a distance of 100 feet to a point
on the westerly line of Lot 1402 of said Tract
Ido. 3389; thence easterly and parallel to the
northerly line o£ said Lot 1402 to the easterly
line of said Lot 1402;: thence southerly in a
direct line to a point on the easterly line of
Lot 1403 of said Tract Sdo. 3389, distant thereon .
60 feet from the sou'theasterly corner of said Lot
1403; thence westerly and parallel to•the southerly
line of said Lot 1.403 to the westerly line of said
Lot 1403; thence southerly along the said westerly
line of Lot 1403 to_the,southwesterly corner of
said Lot�1403; thence easterl•y along the southerly
line of said.Lot 1403 to the westerly line of Lot
1 of Tract No. 6554 as shown on nap recorded in
„ Book.68; Page'7,,6'of MaPs, Records of.Los,AnE;eles
' County,California; thence southerly'along the
westerly line of�said Lot l� a distance of 40 feet
to a point; thence easterly and parallel to the
' northerly line.oi�said:Lot-1 to the easterly line
� of eaid Lot l; thence southe`rly in a direct line
I to a point on the easterly line of Lot 50 of said
Trsct lJo. 6554 distant thereon 45 feet £rom the
southeastarly corner of said Lot 50; thence westerly
and parallel to the southerly line of said Lot 50.
to the westerly line of.said Lot 50; thence southerly
in s direct.line a distance o£ 90 feet to a point on
the westerly line of Lot 51 of said Tract No. 6554;.
thence easterly and parallel to the northerly line
• of said Lot 51 to the easterly line of said Lot 51;
thence southerly in a direct line to a point on the
, easterly line of Lot.100 0£ said Tract No. 6554;
distant thereon 50 feet from the southeasterly corner
of said Lot 100; thence westerly and parallel to the
southerly line of said Lot 100 to the westerly line
o£ said Lot 100; thence southerly in a direct line
a distance of 100 feet to a point on the westerly
line of Lot 101 of'said Tract No. 6554; thence �
easterly and parallel to the northerly line of said
Lot 101 to the easterly line of said Lot 101; thence
southerly in a direct line to a point on the eaeterly
line of Lot 150 of said Tract No. 6554; d`.3atant
thereon 60 feet from the.southeasterly corner of said
Lot 150; thence westerly and parallel to the southerly
line of said Lot 150 to the westerly line of said Lot .
• 150; thence southerly in a direct line a distance of
130 feet to a po3nt on the westerly line of Lot 151
of said 2'ract No. 6554; thence easterly and parallel
to tY!e northerly line of eaid Lot.151 to the easterly
line of said Lot 151; thence southerly in a direct
line to a point on the easterly line of Lot 175 of
said Tract No. 6554, distant thereon 100 feet from
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the northeasterly corner of said Lot 175; thence
westerly and parallel to the northerly line of
said Lot 175 to the westerly line of said Lot 175;
thence southerly along the westerly line of said
Lot 175 to the southwesterly corner of said Lot 175;
thence southe3sterly in.a direct line to the most
easterly corner of Lot 849 of lract No. 3172� as
shown on map recorded in Book 32, Page 90 of Maps,
Records of Los Angeles Co�ty, California; thence
westerly along the soutnerly line o£ said Lot 849
to the northwesterly corner of Lot 879 of said
Tract No. 3172; thence southerly along the westerly ,
' line of said Lot 879, a distance of 60 feet to a
� . point; thence easterly and parallel to the southerly
line of said Lot 879 to the easterly line of said
Lot 879; thence southerly in a direct line to a
point on the easterly line of Lot 880 of said Tract
No. 3172, distant thereon 60 fset from the south—
easterly corner of said Lot 880; thence westerly and
' parallel to the southerly line o£ said Lot 880 to
the westerly line of said Lot 880; tYience southerly
in a direct.line a distance of 120 feet to a point
on the westerly line of Lot 909 of said Tract No.
3172; thence easterly and parallel to the northerly
' line of said Lot 909 to the easterly'line�of said
Lot 909; trience southerly in a direct line to a
' point on the easterly line of Lot 910 of .said Tract
. . No. 3172� distant thereon 100 feet from the north-
easterly corner of said Lot 910; thence westerly �
and parallel to the southerly line of said Lot 910
I to the westerl,,� line o£ said Lot 910; thence southerly
' - in a direct line to the southwesterly corner of said
Lot 910; thence easterly in a direct line to the
� northwesterl5* corner o£ Lot 935 of said Tract Ne.
- �3172; thence southerly alon� the ��esterly line of
said Lot 935 a distance of 60 feet to a point; thence
� easterlq and parallel to tho northerly line of said
Lot 935 to the easterly line of said Lot 935; thence
southerly in a direct line to a point on the easterly
line of Lot 936 of said Tract No. 3172, said point
being 60 feet northerly of and measured at right
angles to the southerly line of said Lot 936; thence
�vesterly and parallel to the said so�ztherly line of
Lot 936 to the westerly line of �said.Lot 936; thence
southerly in a di'rect line to the southwesterl5 corner
o£ said Lot 936; thence easterly in a direct line to
the northwesterly corner.of Lot 959 of said Tract No.
3172; thence southerly along the westerl5* line of
. said Lot 959, a d.istance o£ 60 feet to a point; thence
easterly and paraJ.lel to the northerl� line of said
Lot 959 to the easterly li.ne of said Lot-959; thence •
soutlierly in a direct line to a point on the easterly
line of Lot 960 of said Tract No. 3172, said point
bein� 60.feet northerly of and measured at ri�ht
angles to the southerly line of said Lot 960; thence
westorly and parallel to the said southerly line o£
Lot 960 to the tivesterly line of eaid Lot 960; thence
southerly in a direct line to the southwesterly corner
of said Lot 960; thence westerly in a.direct line to
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`the southwesterly corrier of Lo't 967 of 'said •�
•`Tract I3o..'3172,; ',thence 9outherly in a direct line'
tq the southeasterly'corner of Lot 973 of said Tract „
Dio. 3172;:thence westerly alorig the southerly.line
�of said.Lot 973 and the"vresterly prolongation of
, said soutlierly�line to.tfie center line.of Long Beach
'. • Boulevard';.thence no'rtherly alon$ the center line of �
• said Long Beach Soulevard to the wesberly-�prolon�a--
, tion o£ the southerly line.�of the Paci£ic'�lectric
R2ilway Company�s private right-of-v�ay as said ri�ht`
. of way is located easterl,y of said Lon� B �oule-
,. ,' vard; +hence easter,ly along the said �vesterly•pro- ,
longation.of the�southerly line and.the said
� southerly line of the.Eacilic Electric Railway . '
Company�s private right'-of-way, to the northerly .
,prolongation`of tha easterly line of Lot 1311;of
' Tract 3351, as shown on r�ap recorded'in Book 37,',
� , Page'2, of Maps, Records of. Angeles•County, _..
' .California; bhence southerly in a,direct line to
, the northeasterly corner of,-said'Lot'1311 the place
: of. baginning. , , '
Section 9. '.That the City Clerk of the City of •
Lynvrood shall cause .tYiis resolution to be published.once-
` a week for two (2) weeks in the Lynwood Fress, a newspaper
� . of general.circulation printed, published, And ci'rculated
4 • iri said city. Said Clerk �hall also post or caused to
" �. be posted copies;'of such re'soliation headed �iDlotice o£ -„ '
� ,Refunding.and'Reassessment�".upon,`„all open.streets within �
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' said;Acqui'sition'.and' Improvement `31istrict No. %10. Such :
, `_ notices shall'be posted not more,than three hundred (300)
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' feet in distance apart and less than three (3) of such '
,- , n.otices shall be_posted. Such notices shall.be posted -
on or before'the of the�first publication of..said
;' resolution. . .' '
Said Clerk shall also mail, poetage prepaid� a
� copy,of this resolution•as published .to each person,to. , _' .,
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whom ].and in said Acquisit9.on and Improvement District No. '
10 is as�eased as shown on last equalized,assessment ''
� roll of'Los F.ngeles County� at his address as shown'upon
such'roll, and te any person �vhether owner in fee or having'
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a lien upon or legal or equitable interest in any land
within said District whose name and address and a
desi�nation of the land in yvhich he is int'erested ia .
, on file in the office of said Clerk.
The date of the first publication of this
resolutiori and the date of posting the notices hereinabove
mentioned and the date of mailing copies ofi�is resolution
shall be at least twenty (20) days prior to the, date of
hearing hereinbefore fixed.
ADOPTED, SIGNED and APPHOVED, this 14th day
September, 1937.
� �a �� - - ; � � � l - �'C%�E� �c1�Q�
t „ , . ,_ ,
-�
�'�� ,. �, Mayor of the City of Lynwood,
- '> California.
� ��Attes (SEAL)
' . _� . S _. ..
- ss _ , . .
' _City Clerk."`o£ the City of
;'Lynwood, California.
i
�
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ( ss. � ,
CITY OF LYN6VOOD )
I. R. W. ANDERSON, City Clerk of the City of
, Lynwood, California, do hereby certify that tYie above
and foregoin� resolutlon was duly ad pted b the City .c.
Council of the City of Lynwood'at egu r meeting
held on the 14th day of September, 1 37, by the £ollow-
ing vote, to wit:
AYES: Councilmen T:^tce, Meyer, Nation and Boste
, „�ao. �, � . .
�.�=�� r ' t NOES: None.
. �� y y'�ABSENT: Councilman Snyder.
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_ � :. � �, .
- �� �" �*.,�" City Clerk of the City of
� ; ,. ' ' ; Lynwood, California.
,� �. ,:.• K . , .. (SEAL)
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