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Home My Public Portal About640 (06-20-29).. . . Y .. _ ; _ � , � . . . . _ . , 1 . ,-. ,� ., . . . � . , '. = ., . . . , : . , .. . : � . . , . -� `� . ,, . . . , : - _ ' , . . _' � r� : � " _ ,' . . ., . , . y . . .: . . , ., . - , _' � g�>GLiTTIOPT �T30 : 040 " ; . ,. � � , ` IN,'THI, 'PitATT�?�' OF.AC��i7ISIl'IOId dND IT;�IFROVrZ�iH:T�P •. . . � � � 3�IS3'RICT �NO�.��25 0�'��TH�r 'CI`PY Ok'' LYIV't700D.`:�'.� � ° � � • - .` i�FSOLUTIOPd Ci atiFl��D .. , �' . RESOZVED, th�t `. the City Council �of the Gity of . Lynvrood, , • �` California,, did in open session on the.lSth day pf June, 1929,',",' ` _. `. .publialy open and,examine and:de'clare all sealecl proposals or `��' , _- ' . �' .. Uids�� for the .construction of the ?�rork �or., im�rovement . . , . " deacribed,, in the, I�esoliition of Intention in+the above entitled' . ; matter'adopted on the 5th day of' Februa 1929, (ahich said .. , , x3esolutiori of Inten�Lion is herebv rezerred to for a.description : of said i�rork or`� improvement ),: asld for `the -•pLi of. immediate ,-. - , � possession bonds.of Acqnisition and'Improvement Uistrict �70'. 25' �� of the City of Zynwood, California,'.dated June.4th, 1°29., in . • the� aggregate nrincipa-1 amourit of idineteeri `l'housand "ae�en - , Hurldred Tv^ro �oTlars �nd ninety,riine_,cents (�19;702,99),. the . �: procee;dings for sai� �*rork,,or imnrovement and for the issuance' of - � "` said borids being had arid taken under Improvement • , ' Act of 1925, as sirended. • ' � , . • . .;� : ;That to defr�y the costs� &nd.expenses `o£ said �vork or. im- �. ` provement, bonds �rill be issued 'to the total� ainotSnt .of the same Said bonds zvil7. bear interest.at the rate of'seven per cent (.7J��'. .. , per aruZUn; �ayal�le the.first•interest, payment to � be made on the second day of January or the seco'nd day o� July, . .; , _ . _ , _ , � (.wYa�i.chever month first'sucqeeds :'tYie date of the" borids) ; 'next '. " ' . succeeding.one year after the date of such bonds;,and the last'.in- �� " � stalZriient of interest shall be t�aya'ole at the maturity o� the ` bonds. 'i'he aggregate principal�_of all bonds issued to de£ray�the ; costs €�nd e,�penses of said �^�ork or ir.:larovement, shall b`e paid and . ', " dischar�ed viithin twenty-�ive (25) years after the date'of their issuance, approximately one-tcrenty-second'(1�22)-par1, of such agqregate principal ,to be,payable annual-ly all in gold coin, and the' sirst payment on the :aggregate principal of' the said, bonds. ' .,� �vill be made four years after the issuance .thereo£. ,'., �� ' lhat bonds in�the aggregate`,princi�al`ar.:ount of l�ineteen ." Thousand,Seven:F�izridred Tc�o'and'99�100 (�;I9,702,99) Dollars�of .- said Acquisitio.n arid Imp•rovement 1�is.triet 2To. 25 :-o£. the-0ity of. ,' Lyn�iood;:California', dated J.une 4th,.1929, have `been is`sued to , . obtain the amouritu necessary for the deposits reguired•by the ' Superi'o.r. Coizrt af .the State of Califorr_ia in and:for: the Gounty-, �, , - •of Los An�eles;, in order.. that �,imr.iedia'te po�session :and use may . . be had of the propert,y sought to be acquirefl in t'riis:proceeding,, • . -. and re£erence i� hereby rr.ade to the =tesolution of Intention afore- • said'for a'description of said,property to be acauired. Saicl � � x. . bonds except.�s, to.the. interest �rate_thereof:,_,are•,descr.ibed,in,:., _' �. - said �esolution of I.ntention and �esoTutio'ns.of this Council" . adopted on the 14th day of Iaiay�;,1929, and. tne 4th day of June, , ; _ : 192y, reference.to which�said.resolutions and each of them is hereby �ade.for a descrlptiori.of said b,onds as fully and,to the •, same extent as ��hough said set forth•at-length rerein.� � :: . , a , :,.. _ .. � . ;', ' • That a:special„fund,for the,payment o= �said'bonds; including. oonds for the �ork or improvement.and for the'ir�.me&iate�posse.ssion " aioresaia,.�r�il'1 be' c'onstituted.by the.levy of;special<�assessment' �.' ' S�., taxes ,upon, the.lands 'ivithin- tYie �a.ssessn:ent district in= the above, matters, according to the assessed,value of_eaid lands;:.ex �: . '" clusive o£ the :iinprovements"tlie an3. in accordance +:aith�'the ,. _ .. . �. , �, __ . . , � - , . .. � 5 . " ' . . ` � � . •. .. . � - . . , . . . ' r ' .. , . . � .. . ' .. ' . . ' 1 � � . � . � � . � , . .. . � . � . � r . � . . . . .. . � . . . . . ' . � ' n t. . . . .. . � . ��. . . . . �. . ' .. . . . .�r_. ti . .. "; . �� . i . ' ' �� ..� . . . . . R' d ' rw {� ,'`' � . '- , . � r ' � .1� � � . . . . . . . . _ � . � . " . . . . � ,- . . . . . . . . . � . . . � ♦ . . . , . � '.' . . � � . . .� . . , .: . . . . . � , � . �� . .. .� �.,� , � �. . .". .- . -�.� .. .- ' �.zones'and percenta�es as set fo"rtll in tre Resolution of In-, � ' tention aforesaid, c said i�esolution`�of Intenti:on is° hereby referred.t'o ior �, description of said zones and �;erc,entages. - It is fur+hert'£ound and cletermined that �R9IISAUE _CQIdSTRI7CTIdDi ` ' �. COT,TFANY is .the .loti�est respon'siUle bidder =or said �iork or im- , � prover�ent a,nd tha!t tne bid of DRAINbG?: COTdSTRiJCTIt�I�T• COIu7P9IdY :fo'r . said �ork or_irctii•oy2raeilt is the lo:.*est iegular bid o� . an�% res= •. ' ponsible .bidder; �, that nH_'vI1�AGE CCPTSTRUCl'IOIJ GOP,+IPANY 'is the best responsible bidder �or cash for said im.mediate possession_bonds, " c hacing been Qiyen to the rate of interest',a:t - �nhich.said bonds are offered to be purehased, and"the premium� `� ofiered, and that, the said DRAINAG:E QOTdSTRUC`rION -COb�iP�i�Y did. bid '. " for said immediate'possession bonds tlie par value,of saidabonds � ``� and in;addition th'ereto the su�.of,One lIizndred and no�100 Dollars. . (�100.00)�a.nd: did offer to pur.chase said,i�onds at said sizm on an � �� inter�st .ra.te of•;Seven' ,.per cent per annum,• i'hat,�,tne com= , � • .-�bined bid �of'saici ,DF�1IP�9GE COIiS'T�2UCTI01d CUNiYANY, .inclizding the • ' bid_for. aaid °t•rorl; or improvement and for sa:id immediate poSsession �- oonds is the"most advantageous bid._r�ceived arid said.combined bid� is to�'the' advantage'of ,the district in -the above enti'tled"matter.' ` Tha.t the bids of all otner bidde'rs than the afores�id - DRAIYd9GE �C6�S�RUC`I'-IOld CI�T��'ATdY, for said vrork of improvement be � and the�-same are hereby - re�ected; that the.bids o£:all other, • biddsrs ,than the said' L'RAIT�AGE. COS1STRl7C�I0N CO3:IP?�ISY, for said� imrr.ediate possession��bonds,be and the•same are hereby rejected.. , � That`the coritract. for .said iJOrk or' impro�er.:znt,is •hei:eby awa .� ` to .the said D??9`INBGE COPdS1RUCTIOId COI�TFAIIV, at tlie p n�med_ `�� ` .in hl's bid, to-�rit: � , The lump-sur� of �ifty-five �Thoust�nd lSine Hundred and no�100 � . .. , i. _ Dolla'rs C�55,900,00) for the improvemeiit arid,fo"r�the•immed.i'ate - . � possession bonds for value at the•rate of Seven ,(7�) cent ' •. intere'st p�r annum, plus ��100;00) premium. - • - , i"hat._thi�.City Couneil Yiereby se11s said imrr.ediate.possesSion" �'bonds_ to ll'�?AIS�AGE CO3�iS2't?LJC'1'ION GOR,4PARrY, at the rate of interest' • of Seven p°r cent` 7%. per annum, �hich.is hereb;� found`to be. ' � less than the maximum 'rate nained in�the Resoluti.on of Intentio,n � aforesaid and said rate of interest is hereby fixed as ,the rate � � of intere�t.f,or sa•id ir�niediate possession bonds �.nd at a total sum � of IJineteen "`Phousand �even Hundred it�o, �nd .99�100 ( �;19. 702, 99 ) . � � Dollars, plus a rremium oF �±ne ?-Iund.red (�:100,00) Dollars: , • �That the. Treasurer� of the City of Zynwrood be and she is. - , hereby ordered and directed. to use the proce,eds of said bonds,__ insofar as ri.ecessar,y, to make the cieposit's.required.by the said• . ;;uperior.�ourt. ' , ,. ', The Citg _Clerk �o£ the said City of.I+yniaood, �C�lii'ornia, is . here:b3-directed. to post corispicuously and,keep posted for five .- ' (5) days at.or riear the ch�mber door of this City CounciZ, in - . tne manner and form required b,y, said statute, a T�otice of �Ivrard - •of Contract, and the City Clerk is direeted to cause to be , ,: �: :.` published. by_t+.xro inse'rtions in the,-n.ewsroaper, desi:{;nated.in the_,�._ ._�., Resolution o= Inte'ntion,a=oresaid„, a�:otice.of A�?ard of Contract,. ,. � • I hereby certify that the.foreg.oing resolution ��ras at an adjourned regular,_raeeting.of".tne: City Gousicil of i;yrirJOOd, passed ` ; and�adoptod,this 20th da;� o� June, 1929 the follo*:rin�,yote: • AY�S: Counci]:�en Ti�eed.y, Skelton, _Zei��is and Iviurray, , iv"OES: - None ' - ` •• - nBSLTdTt' ,Councilman Anderson • •: , " .. . ^: . .', . , :';' . . • iJ., e�J: Chapvnan .. . . . . . - _ • � `City Cle City of Lyncrood: . ,, „., . . . � . . . . � . , . , .._.. - , �, ,. � . , ., . . . , , : , , . . � .. ,. , . . _ . , , ,•; . . � . . ;.. ... � . � � � r � . .. �, _ , , .. . , , , ••.. , , • . , , ., . . . • � - � � � �� ..� � � -��.: . . , . � , . . , .. ., . � ,. . . ,. , _ , . .. , . _ ,