HomeMy Public PortalAbout1050 (01-27-38) , _�
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= RESOk�UTION 1J0. �1050
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RliSOLL`iIUDi OF' T� }s CITY OF � YNVVOOD PRO—
VIDING THAT THE CITY OF ZYN'+<<00� EXCH11iQGE
COL7PONS OF AC�TiISt'I'IO?Q AND II�":PROVE&T.GPIT
,�.� _�. ..`.a_ t �IgTRI^T' N0. .10• FO?? REFiTiIDT�TG EONDS TO ' � ,
CO?v1PLL�'TE TFiE� REP'TTi`1LING PROCEEDINGS.
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. �N$ERE�F,S, this Cit;,T Council has instituted pro-
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ceedings for the refunding of�/the indebted.ness of Acquisi-
tion and Improvement District Dio.-l0-of the City of ,
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Lynwood under the provisions oF the .9seessment�Yond Re-
funding �ct of' as amended; and ,
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E'VJHE:REAS,�'the coupons of said District owned by
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the�City of�"Lynwood were to be paid in cash in the re-
iunding proceeding; and.
VJI3ERF.(15, the holders of a.11 other outstanding
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bonds and interest coupona�of said District can and will
be paid in cash but by reason of the fact that certain of
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tY!e reFundirig bonds� of� said,llistrict are not salable it
v,ill not be possible to pay the City of I,ynwood in cash
and it is desirable that said refunding bonds be deliver-
ed to the City of Lynwood in exchange for the interest
counons of said District held by said City�and tHat the =
re£unding proceeding be compl'eted.;" � � �
TdOW, TI�EREFORE, the City Council of the CitS* of
Lynwood does hereby�resolve, d`etermirie'and' or`d.er as�fol-
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Section 1. That the int:erest couporis of :`
Acquisition ancl Tmprovement District No. 10 of the City �
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';" of Lynwood ovvned by the City of Lynwood be exchanged for
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any refunding bonds of said L`istrict not sold for cash
in the refunding proceeding, and. tY�at tne City Treasurer
be and he is hereby a.uthorized to deliver said coupons
in exchange for the sai� refunding bonds in order to
' complete the proceefling for the refunding of the indebt- -
edness of said. District.
� '" ,• ADOPTED, SIGNED, qND AFPROVED this 2"7th day of
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�January, 1�38. , �
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;.;, ('SEA=L) '+""..` ;' � hlayor of the City of Lynwood,
- ` - California.
ATTE3T� , a � . - �� .
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City Clerk of the City o.f
Lynwood, California, and �
Clerk of the City Council
thereof. '
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'"-'�' STATE OF CALIFOfiSdIA )
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czmY or- Li�T;�roor, )
I, R. 4�''. ASIDERSON, City C1erk of the City of
Lynwood and Clerk of the City Gouncil thereof, do hereby .
certify that the.above and foregoing resolution was
adopted b;��the City Cour.cil of the City of Lynwood.at its
regular adjourned meetin; duly held on tne 27th day of
January , 1938, by the following vote, to vvit:
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AYES: Councilmen Meyer, Lake, Sn.Vder and Boster.
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,N�ES: �ouncilmen None
�� �"'ABSEDTTd Councilmen Nat�ion
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%.e , � 9 ,. �� City Clerk o.f the City of Lynwood
�(SEAL) '-` -`` and Clerk of the City Council
�•` � thereof.
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