HomeMy Public PortalAbout650 (07-16-29).t)•
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IN THE MATTE3
DIST�ICT 410.
CL�LIFORNIA.
?�ESOL'JTION iVO. 650
OF ACQUISITI01� 9ND IIVIPROVENiP+�4T
18 , OF THE CI TY OF ZYIdi700D ,
RESOLUTION �'I%IIVG TIIV1E FOR F.EA�ING UPOV PROPOSED
ISSUANCE OF BOi�DS TO OBTAIPd ITVID7EDIATE POSS�SSIOYd.
_ C,: r�
NHE�EAS, in a resolution adopted by the City Council of
the City af Lyntvood on the 19th day of April, 1929, in the matter
of Acquisition and Improvement District No. 18 of the City of
Zyn�vood, the acquisition of 1&nds for the opening, widening and
eatending of C�ZTURY BOUZEVARD, a public street in the County of
Los Angeles, es proposed in the Resolution of Intention in the
above entitled matter adopted on I�arch 26 „ 1929, was ordered, and
the Specail City Attorney of the City of Lynvaood, to-wit: Georg�e
CV. Crouch, was ordered to bring an action for the condemnation �f
the property neceseary� therefor and to report to this City Council
the amounts of money required for the purpose o£ obtaining immediate
posses�ion and use of the property so sought to be acquired; and
'."IHEREAS, the said Specisl City Attorney has reported to
this City Council that an action in eminent domain has beenfiled
in the Superior Court, said action being entitled "City of Lynwood,
a municipal corporstion, plaintiff, vs. L.C. Ackley, et el, def-
endants," being Superior Court case iTo. 283379, and that proof was
presented to said Court of the amounte of mone5+ required.to secure
immedi&tec:possession of the lands :ought to be condemned, and that
the said Court made an order 3irecting the depoeit of money-to se-
cure psyment oi' compensation to defendants ir said action, and that
the total amount reouired for deposit in court in order to obtain
immediate poeseasion of seid property as set forth in said Order
of Court is tffiesum of ONE HUND?tED EIGHiY-TF70 THOUSAND SIX HIIVDRED
NINETY AND 71�100 (�182,690.71) Dollars; and
fi�F.EREAS, it is the intention of this City Couneil to order
that bonds of said District be issued and sold for the purpose o�
obtaining the necessary money to dop�eit in court in o•rder to se-
cure said immediate possession and use of said property; �
IQOL7, THE?�FORE, BE IT 3ESOL4ED by the City Council of the City
of L;�nwood as follows, to-wit:
1. Tuesday, the 30th day o£ July, 1929, at tne hour of
8 a'clock P.M., is the time, and the chambers of the said City
Council oT the Citiy of Lynrvood, in the City Hall in the Cityc:�oY
b;7nwood, is the place, hereby fixed for s hearing upon the issuance
of b�nds against the lands in the aesessment district in Acquisition
and Imxrovement District No. 18 0£ the City of Lynwood, for the pur-
pose of obtaining the arounts re�uired by the Court, to-wit, amounts
totaling the sum of ONE HUPdDR�D r:IGHTY-T7V0 THOUSAND SIX HUlIDRED
c1II1ETY AND 71�100 (�182,690.71) Dollars in order that immediste
possession and use of the public ways sought to be acquired under
the proceedings in the above entitled matter may be had, and for
the purpose oi' furniehin� an opportunity to all persons owning lande
vrithin the �aid asseesment district, or �ther�rise interested, and
feeling aggrieved by any act or determination dane o^ made in thc
said proceeding or claiming that any of the previous acts, deter-
minations or procee3ings tare irregular, defective, erroneoue or
- faulty, or having sny ob�ections to offer or any reas�n to advan�e..
��. �
why bonds should not be iesued in the amount above set forth for
the purposes above set Yorth, to appear before this City Council
be haard uppn any of the above mentioned matters. Said bonds, so
propo�ed to be issued in the sum.of Oi1E HUIJDRED EIGI3TY-TWO THOUS-
�dD SIX HUNDRED NINETY HND 71�100 (.�'182,690.71) Dollars wil.l be
issued under and in pursuance of the provisione of the "Acquis-
ition and Improvement Act �f 1925," and shall bear interest at a
rate which shall not exceed a maximum �£ �IGHT YER CENT per annum,
payable semi-annuslly (the exact rate of intereet to be determined
upon the sale of said bonds pursuant to-the terms of said Acquis-
ition and Improveraent Act of 1925, as amended) the first payment to
be made on the 2nd day of Jenuary or the 2nd dpy of July (which-
ever month first succeeds the date of the bonds) next succeeding
one year after the date of such bonds, and the last installment
of interest ehall be payable at the maturity o£ said bonds, and
the aggregate principal of said bonds shall be paid and discharg-
ed within Twenty-five (25) 3ears after the date of issuance;
apProximately one twenty-third (1�23) part of the principal of
said bondE to be payable annuelly, the first payment on the prin-
cipal of said bonds to be made Three (3) year� after.the issuance
thereof, and said bonds and the intereet thereon ehall be payable
in gold coin. A.special fund for the payment of said.bonde will be
constituted by the levy of speci.sl aesessment ta$es on the lpnds
�aithin the r�ssessment distriet in accordanee v�ith the provisions
oT the dcquisition and Improvement Act oY 1925, as amended, accord-
ing to the asseesed value of said lands (exclueive of the improve-
ments thereon) and in accordance with the zones and percentage� ns
finally determined by thie City Council upon the 19th dey of April,
1929, and as more fully set forth in the ??e�olution of Intention
in the abovic entitled matter, adopted by said City Council on
Id[arch 26th, 1929, and as m�dified by the Resolution ordering work
in the above entitled matter, adopted by sr�id City Council on April,
19, 1929, reference to �^rhich Reealutioas is hereby c�ade for further
particulars.
2.i The Clerk of this City Council shall prepare and sign a
notice of the above mentioned hearing and shall cause the same to
be published by at least tvro (2) insertions in the "LYidT700D TE?I-
BUS7E", the nowspaper designated in eaid ?:esolution of Intention,
and a copy of said notice to be posted end kept posted for at least
two days on or near the chamber door of thie City Council. The
first publication and p�eting shall be not lcss than ten (10) days
before the date specifiec� far said hearing.
PASSED A.ND ADOPTED this 16th day oP July, 1929.
APPROVED: H. t�. I�urra�
Pdayor.
aTTEST:
R!. W. Chapman
C �lerk.
APPROVED AS TO FOEtM: George �7. Cro uch by Roscoe P.Hen
Special City 9ttorney.
STkTE OF C�LIFO�NIA )
COUIITY OF LOS AIQGELES ) ss.
CITY OF ZYNP700D. )
� , `t�:
. I.hereby certi£y that the foregoing Resolution r�as adopted
by the City Council of the City of Lynwood, Californis,. at an
adjou�ned regular meeti.ng thereof held on the 16th day �f July, 1929;
and ga�secl.by the follotiving pote.
AY�.S: COUi1CILtuEil Tweedg, Skelton, �,nderwon, Zewis, Tdfurray.
� , NOLS: COUNCI�l�iQ None.
ABS�T: COU�VCILP�?�1V None.
i�. �9. Chapman
' City Clerk.
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