HomeMy Public PortalAbout1006 (09-14-37) ' . • . ' . ' . ., . . ' ' , . .. . . . ' i ' .
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. , RESCL`JTIOAr: N0 1006 _
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RESOLUTION OF•THE CITY.COiTNCIL OF
, THF.CITY OP LYNWOqD,:CALIFORNIA,, ,
. . ' "'�pECL�sRING-I^1Sr INZ'ENTION TO FiEFUnTD .
; TFiE INDEBT�DNESS OF ACQUTSI�PION- �
'. AND IN?YROVLN1hSdT DISTHICT N0: 9
OF Sl1ID'CITY AND FIXING A`PIA4E .' ' '.
AND PLACE FOR I�:AHING.. ' . _
, IT'IS HEI�;BY R�SOLVED by tYi'e City'Council. of . ,,
, ; the City'of Lynwood� California� as follows; '
S'°ction l. That the public interest, con�
�_ venience and necessity require the refuridirig of the iri-
' debtedness of Acqti�i.sition and ImProvement District Noe 9 •
; of the City of Lynwood� California, and-'it is the in�
tention of the City Council of said city-,to reftind said.
�indabtednesa under the provisions of ari act of the -
- , Legislature-'o.f the St�'te of California.designated as the .'
�. °Assessment:Bond Refunding A-ct of 1y33��' approved Turie 5�
;• „ 1933, as amended, and for the purpose of refundinb said � �.
' indebtedness said �i�y.Council intends to levy a reassess� .
. : ment and.to-iseue.refunding.bonds as herein proposofl. '
, Section 2: That the total amount of out.standing
indebtedness of said District to be refunded is the swa of `
sixty-one thousand� seven hundred'sixty<nine and ei,bYity,-three
hundredths dollars (�61�769.83). ; The.amoiznt of the
principal of bonds-includ.ed th'erein is.bhe sum of fifty-
, six thousand three hundred,three and forty,-trree hundredths
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dollars (yp56,303.43). The amount of due and uripaid i'n-
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terest'coupons included therein is'the sum o£.five thoizsand'
' four hundred,'sixty-six arid forty hundredths dollars
(�5,466.40): The`amounts referred to in this section ;'
are deterr,iined as of the date this resolution is adopted.
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'.Section 3. That.the total maximum pr3ncipal. �.
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• amount for which a reassessment sYiall be levied in the ','
•proceedings £or tfie refunding.of •said'indebtedness�is . ' .
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determined.to be the sum .of sixty-one t'hoizsand seven '�
: hundred fifty,-nine and eighty-three,hundredths,dollars �
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5ection 4.. That.refunding shall b'e is- �
susd to represent any re'Issessments not paid�within thirty
(30) days;from the, date of reGording the r.eassessment,- °, •
and"for,any reassessment not paid within thirty'(30) d'ays
' from the,date of recordation thereof a ref.unding bond :.
_ will issue in the inanner and_ form provided iri said`Assess-
"� ment 'Bond Refunding Act of 1933, as amended. , Sai.d refund--
', ing bonds shall.extend over a period ending nine �9) years
from the second day of January"next succeeding.the.Pifteenth
day of the next November followin� their date, and an even
annuaT proportion` of the prixicipal 'sum o£ each bozid shall
be payable by.coupon on the second day of'January of each '
� gear after the fifteenth day of the nex_t November follow� `
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ing 3ts date, until bhe whole is paid. Said 'refunding
bonds shall bear interest at the rate of .six F�er oent {'6�) ::, .
�' ' • per'anntun, payable semiannually, by coupon �on the second.
a�', ', ' day's of January and July� respectively,'of�each_
aftes their�:date. -Upon any of such bonds dated after,the �
•• fourteenth day.of May o£ any year and on or before the
, £ourteenth day of the following November, the first in- �
�terest coupon shall become'due and payable on'trie"second' '`''.'"'
� , , day of the next�succeedirig January, and upon such borida,
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dated.af.ter the ,fourteonth day of November.of any. year .
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� � - �and ori or before •the fourteerith da,y` oP tYie:following Niay,
� the first interest coupori�`shall.;b'ecome due on the second
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day of the next succeeding July. Each refunding bond
_ shall represent the reasse�sment.upon.the lot, piece or
parcel of land described in bond; and the principal
amount of each bond shall be the amount of the unpaid
' reassessment upon the lot, piece or parcel of land
described in such bond.
Section 5. Interest maturing or accruing on
the outstanding bondsaf said �istrict aubsequent to the
date �tYii§, resolution is adopted and prior to the date
the reassessment is recorded is to be paid. Sain out-
standing bonds bear interest at the rate of 7o per annum,
payable as provided in the proceedings for the issuance "
of said bonds.
Section 6. That the llth day.of October, 1937,
at the hour of 7::30 o'clock P.: M.. of said day� is the day
- and hour, and the chambers of the City Council in the City .
Hall in tne City of Lynwood is the place, fixed for the
hearing of objections to said.:ref�unding.��At any time not
• later than the hour set�for-hearirig objections to said �
proposed refunding�, any per'son inter�sted and;an.y. owner of
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property which is subject�to reassessment in the reflznding
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proceeding may file,his' written�otijection,against the
, proposed refunding with the City Clerk of the �it� of
Lynwood. An objection must contain a description of the
property in v�ich each signer thereof is interested, suf-
ficient to identify the same, and shall se.t £orth the nature
of each signer�s interest therein, and shall be delivered ,
to said City Clerk at or before the time herein set for
hearin�, and no otherlroteats or objections shall be con-
sidered. •
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� . 3ection 7. The refundin� of said'indebtedness '. �
j�. sha31'not be authorized unless the written consent of the
' ,, o�mers of 'a�=ma�or'sty`'in are'a'".o£, ithe land in tha Di'strict
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. subject to assessr.zent to pay the principal and interest ,
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" oi�-the•out_,standing bond`s is, filed with said'�City C1erk' '
and any owner.of,land in said=Acquisition and Improv�r.ient
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: . �' District No:' 9� may file hi�s wr'itten consent to' such se-
funding at.any time prior to the adoption of. the.resolu-..
� ° ' tion.orderin� the reflznding. ,
° Secti'on 8. The land.which is proposed'to be . °
reaesessed for the.�refunding of;the outstanding indetited- '
� ness of said A�.cquisition and Improvement District No. 9 ,
corisists of.all such lote., pieces or parcels of �land within �
- said Acquieition and Improvement District No. 9,as are • .
subje'ct to.assessment to pay the principal and interest'�
�' of the outstandir� bonds�dzhich are to be refunded in this ..
',, proceeding: The exterior bounaries of said A�.equiaition
' " and Improvement"District No. 9,are described as�follo�vs;
� Beginning at the northwesterly'corner of.Lot 18
of Tract No. 2794, as per,.map recorded in Book 28, `�
. '' . Page 6 of Maps, Records of Los �ngeles County; �_
� California;'thence easterly, along'.the northerly
Tine of said-Lot 18, to the northeasterly corner- .
of said Lot 18; thence southerly along the easterly
line of said Lot 18 and the southerly prolongation.
thereof, to the southerly line of Lot 19.of said
- Tract No. 2794,; thence easterly� along the'southerly
,. . �• line.of said�Lot 19 and the easterly prolon�ation
:.r thereof,,to the southwesterly corner.of Lo.t 31 of
' said Tract No. 2794; thence northerly� along�the' . �
, ' � westerly line.of said Lot 31, to the northwesterly
corner of said Lot 31; thence easterly, along the
northerly line and the easterly prolongation of the
northerl;� line of.eaid Lot 31, to a point 20.00� �
- � feet easterlp of ineasured 'at right angle's to` tYi'e " ''`
easterly line of said Lot 31; thence southerly 20.00
feet easterly of ineasured at right angles, to and
para11e1, to the easterly line o£ said Lot 31 and
� ' i'te scutherly prolongation to the noit�erly line of •
',_ ` Lot 1"S of Tract No., 2551, as per map recorded in
, - ' B,00k 24, Pabe:78, 79_and 80 of Maps, Records of '-
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Los Angeles County, California; thence easterly,
alon� the nor.therly line of said Lot 13 and the
easterly prolongation thereof, to the northeasterly
corner of Lot 12 of said Tract No. 2551; thence'south-
erly, along the easterly line of said Lot 12, to the
southeasterly corner of said Lot 12; thence easterly
along the northerly line of Lot 50 of said Tract No.
2551 and the easterly prolongation thereof, to the
northeasterly corner of Lot 60 of said jract No.
2551; thence southerly along the easterly line of
said Lot, 60 and the southerly prolongation thereof,
to the angle point in the easterlg line of Lot 193
of said Tract No..2551, said angle point being distant
117.55 feet southerly of the northeasterly corner
of said Lot 193, measured alon� the easterly line of
said Lot 193; thence easterly in a direct line to
' the northeasterly corner of Lot 194 of said Tract
No. 2551; thence southerly, alon� the easterly line
and the southeriy prolongation oP the essterly line
of said Lot 194� to the an�le point in the easterly
line of Lot 354 of said Tract No. 2551, said angle
point being distant 97.50 feet from the northeasterly
corner of said Lot 354; measured a'long the easterly
line of said Lot 354; thence easterly� in a direct
line to the northeasterly corner of Lot 1185 of Tract
No. 3335, as per map recorded in Book 36, Pa�e 42;
of Maps, ftecords of'Los Angeles County, California;
thence southerly� along the easterly line and the
southerly prolongation of the easterly line of said
Lot 1185, to the northeasterly corner of Lot 1296
o£ said Tract No. 3335; thence westerly, along the
northerly line o£ said Lot 1296, to the north�
westerly corner of said Lot thence soolonra�
along the westerly line and the s�utherly p g
tion o£ the westeriy line o£ Lot 1296 of said Tract
No.3335, to the.northerly line of the Pacific Electri.c
Railway Company's private right of way; thence :
westerly, along-the said northerly line of tho said
Pacific Electric Railway Company's private right of .
way and the prolongation.theraof� to the westerly
line of Long Beach Boulevard; thence southerly, along
f the said westerly line of said Zong Bea'ch Boulevard�
to a point 50.00 feet southerly of ineasured at right
� angles, to the said northerly line of.the Pacific
�lectric Railway Company's private right of way, as
• said right of way is located.westerl��oe �
Beach Boulevard; thence weaterly, pa
northerly line of said Pacific Electric Rail�vay
� Company�� private right of way to a pqint, said
point being 90.00 feet southerly of the most easterly
corner of'Lot 465 of Tract No. 2551 as per map recorded
in Book 24, Pages 78� 79 and 80 of Maps, Records of
Los An�eles County, California, measured.at right
angles, to the southerly line of said Lot 465; thence
northerly in-.a direct line a distcnce of 90.00 feet
.. • to the most easterly"corner oP'said L'ot 465; thence
westerl,y, along the southerly line and'the westerly
prolongat3on of the"southerly line of said Lot 465,
� to the•s'outhwesterly `co"rner of Lot 433 of said Tract
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� No. 2551; thence northerly, alon� the easterly �.
line of Lot B of said Tract No. 2551, to the north-
westerly corner of Lot 414 of'said Tract No, 2551; '
thence easterly, along the northerly line o�' said'
Lot 414, to the northeasterly oorner of said Lot
414; thence easterly, in a direct line to the�north-
westerly corner of Lot 325 of said Tract No. 2551;
thence easterly along the northerly line of said
. Lot 325, £o the southerly prolongation of the wester�y
line of Lot 261 of said Tract No. 2551; thence northerly,
� in a direct line to the southwesterly corner of said
Lot 261; thence northerly, along the caesterly line of
said Lot 261 and of Lot 240 of said Tract No. 2551,
to the northwesterly corner.of said Lot 240; thence
easterlg, along the northerly line and the easterly
prolongation of the northexly line of said Lot 240,
to the center line of Long Beach Eoulevard; thence ,
northerly, alonb the center line of Long Beacri Boule- �
vard, to'the westerly prolongation of the northerly
� line of Lot 18, of Tract No. 2794,.as per ma�.recorded
in Book 2II,.Page 6 of Maps, Records of Los Angeles
� County, California.; thence easterly along the.said
westerly prolongation of the northerly line of said ,.
Lot 18, to the northwesterly corner of said Lot. 18,
the pla,ce of beginnin�, excepting from said district,
such publicly owned lands lying within said boundar- •
ies as were omitted from said district and from the
levy and collectiori of assessFn�nts to oap the princi-
�al and interest of bonds of said district by Resolu-
tion No. 354 of the City of Lynwood on file in the
office of the City Clerk of said City, to whichaefer- .
erce is hereby rnade for a description of said omitted
lands.
$ection 9. That the City Clerk of the City of Lynwood
shall cause this'resolution,to be published once a for two
(2) weeks in the Lynwood Press, a newspaper of general.circ�z-'
lation printe3, published, and circulated in said cit�. Said
, Clerk shall also post or to'be.pos'ted copies of such '
resolution headed "Notice of Refunding and Reassessment" upon
all open streets within said'Acquisition and�Improvement Dis-
trict No. 9. Such notices shall be posted not more tnan three
� hundred (300) feet in apart and not less than t:iree
� (3) of such notices shall be poated. Such notices shall be
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posted on or before.the dat�. the.first publication o£ said
r.esolution.
• Said Clerk-shall also :nail, postage pr°�aid, a
cop� of this resolution as published to each person to
whom land in said Acquisition and Imorovement District No. .
9 is assessed as shown on the last equalized assessment
roll of Y�os Angeles County at .his address as shown upon
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' such roll�'and to any person whether owner in fee or havirig
�� a li'en upon or legal or, equitable iriterest in any land �
� within said District.whose name and address and a
,_ designation of the land iri which he is interested is
- on file in the office of said Clerk. �
. ° The'da of the £irst ,,
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resolution and'the date of posti.ng the notices hereinabov,e
. mentioned and the da.te.of mailis�g copies of this resolution
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shall be at least twenty (20).days prior�to the date.,of .
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' hearing hereinbefore fixed. '
, . ADOPTED,• SIGNED and APPROVED, this 14th dag of "
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'. . .,:.�.�^September, 1937. . • ' .
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� •'-: �r�' �:�, y ; . ' . Nayor of the City of. Lynwood; .' :
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'y, .A-ttsst. .> '' , , (SEAL )
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� City'Clerk of the .City of " ,
, Lynwood, CaliPornia. .
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„ ;, , STA'I'E OF CALIFORNIA _ ) . `
- � COUNTY OF LOS ANGELES ( ss. �
� � CITY OF LYNWOOD � � ) -�K, . . � . . ' . .
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I, R. W. ANDERSON,��City of the City of
. �Lynwood ; ;-Cal3fornia,, do Yier tY�at tYie.above
- and'�foregoing!resolution was duly,ado ted: ,the City,
•. Council''of - the 'City of Lynwood at'its egu ar meeting
, held on the 14th day.of�Sep,tember,,l 3��the follow- ,'
ing vote, .to wit'i , ,; . �
�,�;��
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�.�'' �' ° AYES: Councilmen Lake, NIe,yer, Nation and . 1�oster.
_ �x'� �:\ �' ,� b�r -r None. • _ .:. _ . _, . - - ._._.�..�.
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,'`` � i City Clerk of the City of
� =, �='. Lynwood; California..
;r (SEAL) '
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