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�ESOLUTION PTO. 652.
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IN T&� MATTEF. OF AC^�,UISITIOli t11�D IE4P�OV'::I��:tIT DISTRICl N0. 18 OF
THE CITY OF' ZYLIt�lOOD; CALIFO�NIA.
I CLNTURY COULEVA.RD APID OTHER STRF.FTS )
A RESOLUTION O�DERIT_dG ISSUANCE OF BOVDS TO
CERTF,IN IP.4PlfEDIATE POSSESSIOPI:
�--.-�Lil
P1gET�,:AS, in a resolution adopted by this City Council
on the 19th da;� of April, 1929; the acquisi,tion of lands required
Sor the opening, widening and extending of C'r:LITU?2Y BOULEPARD as
proposed in the Resolution of Intention in the above entitled
matter adopted by said C3ty Council on the 26th day of March,
1929, was ordered and George (�. Cronch, as Special City Att�rney, '
rvas directed to bring an action for the condemnation oT the
property nocessary therefor and report t� this Council the amounte
of money requ�ired for the purpose of obtaining immediate possession
and use of the property so ordered`to be ecquired upon complying
with the reouirements o£ the lavJ applicable t�ereof, and
itiBEREAS_ on the 12th day of July, 1929, ssid attorney
-- � reported to this Council that en aetion in eminent domain had
been filed in�the Superi�r Court of the State of Californis, in
and £or the Count� of Los Angeles, said. action being;entitled
"City of Lynw�od, a municipal corporation, vs. L. C.�Ackley,
et el," beir.g Superiar Court Case �283 and that proo£ vaes
presented to said Court of the amounts of money adequate to
secure to the o�aners of the property �aught to Ue condemned and
of every estate and interest therein, the immediate p�yment of
just compensation of the property sought to be condemned and the
damages resulting by reason of severance and otherwise to remaining
portions o£ the parcels o£ land by reason of such acquisition and
the construction of the proposed improvement as soon as the same
could be ascertained according to ]a�w, and tha_t the said Court
made an order directing the deposit of money to secure such
payment of c.ompensation and damage� in °aid action, and that the
total amount required for such deposit in Court in order to so
obtai.n immediate possession of,said property, as set forth in
ssid order of Court, is the sum of OId�,� HUNDRED EIQHTY-TPJO THOUSAND
SIX 13UNDRED NI��TY 6111I] 71�100 (�182,690.71) Dollars, and
Y7HE�EA5, at it� meeting held on the 16th day of July,
1929, this City Council fixed a.,day, hour and pl�ce for a hearing
upon the issuence of bonds against the lands in the assessment
district in eaid Acquisition and Improvement Distrcit IQo. 18 of
the City �f Lynwood for the purpose of obtaining the amounts
required by the Court, t rwit: amounts totaling the sum of
ONE HUPIDRED �.IGHTY-TWO THOUSAND SI% HUPIDRED NIPJETY di�D 71�100
(�182,690.71) Dollars, in order that sueh immediate pos�ession might
� be had, and said hearing bein� expecislly for the purpose of
furnishing an opportunity to all persone::owning lands within said
aesessment district, or otherx�ise interested, to be heard, and by
said Resolution the City Clork was directed to give notice of the
time and place o£ said hearing, as required by Section 28 of
the Acquieition and Improvement Act of 1925, and
�IEREAS, proof has been submitted that notice of said
hea�ing in the manner and form required by 18�v has been regul�?rly—
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publiahed and posted in accordance veith the requirements
of said Act, and tIrnis being the time and place heretofore fix�d
for � sid hearing, and the matter having been fully heard, and
a full, fair and impartial hearin� having been aceorded t� all
objectors, and evidence having been received upon the question of
the neces�ity for the iasuance of said bonds and the �ufficiency
of the proceedings heretofore had and taken in the above entitled
matter�
NOVi, TH�REOF?tE, BE IT ;ESOLV�D by the City Council �€
the City of LZ�nv�ood, that it is hereby foundr;,determined and order-
ed ae follows, to-wit;
SECTIOP71. That the public intereet and convenience require
that the City of Lynwood, Ylaintiff iri said action in eminent domain
entitled "City of Lynwood, a municipal corporation, vs. L. C. Ackley,
et al," being Superior Court Case P1o. 283,379, in the of£ice of the
County Clerk of Los Angelas County, take immediate poe�ession and use
of the property therein sought to be ecquired.
SECTION 2. That notice of the day, hour an d place of the
hearing upon the question of the issuance of the bonds for the
purpose of obtaining such immediate poese�sior. hee been regularly
posted and puhlished in the nanner and form reouired by law.
SECTION 3. That all the acts, determinstion� snd proceed-
ings heretoTore had and taken in the mstter of Acquisition and Imp-
rovement Distrcit PTo. 18 of the City of Lynwood are regular snd in sll
respecte eufPicient, and that all protests and objections to the �
issuance of said Londs, and to any �f the acts, determinations or
porceedings hereto£ore had and taken, are hereby overruled and denied.
��CTION 4. That the public interest, necessity and con- ,.
venience require and it i� hereby ordered that bonds of the said
di�tirct shall be iseued in the total sum of ONE HUiVDRED EIGHTY-TP�O
THOUSAND Sl�S HUND�ED NIN�TY fsND 71�100 (�182,690.71) Dollars, for
the purpose of obtaining the neceseary amounte to deposit in Court in .
order that immediate possession and use of the land� sought to be
acquired may be had, and that the l;ity �l�reasurer of the uity of I,yn-
wood is hereby ordered to issue bonds of said distrcit, designated
as "Series °A", in the said aggregste principal su�m a� ONE HUNDRED
EIGHTY-T�10 THOUSA�TD SIX HUNDRED TdIPTETY AND 71�100 (�182,690.71)
Dollars, dated as of the date the order for their issuance is made ,
ell in the manner mrd form provided in the Acquisition and Improvement
Acts o� 1925, and in further sccordance with the provisions for such
bvnds c�ntained in tYie,?tesolution of Intention adopted in the matter
of`sai.d Acquisition and Improvement.District by this City Council on the
26th dsy of I�arch, 1929, a reference to which is hereby made for all
particulars.
Said bonds shall bear interest at a rate not to exceed the
maximum rate of EIGHT( B�fo) PE?i CETdT per annum, pa�able semi-annually
(the exact rate o� interest to be determined unon the sale of said
bonde, purauant to the provisions of Section 28 af the "Acquisition and
Improdemant Act of 1925") and the aggregate principal o£ said bonds
shall be paid and diseharged within Tv�enty-fi�e (25) ears after the
date of issur�nce; approximately one twenty-third (1�3rd) psrt of
said aggreg;ate principal to be payable an�ually in gold coin. The
fist payment on the aggregate principal of the bonds so is�ued will be
made three (3) years e£ter the issuance thereof. A special fund for
the payment of said bonds �vill be constituted by the levy af special
aseessment taxes upon the lands within said district, as provided in
the ?tesolution of Intention and in the above mentioned "Acquisition
and Improvement Act of 1925."
Said bonds shall be numbored from 1 to 183, inclusive,
and bonds nos. 1 to 182, inclusive, shall be o£ denomination of ONE
THOUS�.�D (�1,000.00) Dollars each, an d Bond No. 163 �iell be of the
denomination of SI% HUNDRED NIPIETY AND 71�100 (�690.71) Dollsrs.�
Eight (8) of said OI3� THOUSAND (�1,000.00) Dollar Bonds, to-tivit: Bonds
Nos. 1 Lo 8, inclusive, shall be payable Three (3) years after the
date af issuance, and eight (8) of said ONE �sOUSAND (�1,000:00) Dollpr
Bonds.shall be payable each and every year thereafter up to arid in-
cluding Twenty-four (24) years after the date of issuance, and on the
twenty-fifth (25th) ye�r after the date a;� issuance six (6) of said
ONE THOUSAND (�1,000.00) Dollar bonds, to-wit, Bonds Nos. 177 to 182
inclusive, and said Bond No. 183, in the denou,ination of S A HUND?3ED
PIINETY AND 71/100 Dollars, shall be payable. The principal
and interest�of said bonds sr.ell be pa�able semi-annually in gold coin
of tho United States of America at the office of the City Treasurer of
the City of Zynwood. The interest on said bonds shall be payable semi-
annuslly on the 2nd day of January and the 2nd daq of July bf esch
year, beginning on Jsnuary 2, 1931, until the maturity of each of said
bonds respectively.
� SECTIOSl 5. The City Clerk
sale of said bonds for and on behalf
heroinafter particularly set forth.
is hereby directed to advertise the
o£ this City Co�cil in the manner
SECTIOIJ 6. That said City Council does hereby further resolve.
end find and declare that the public interest, convenience and nec-
eaeity demand and require, and it is the intention of said City Council
to require, the bidders submitting bids for performing the work and
improvement iri the above entitled matter to purchase the bonds which
are to be issued, and which are hereby ordered issued, to cover the cost
of obtaining immediate possession of the property sought to•be acquired
in the proceedings had i.n the above entitled matter, and to include in
their bid for, the improvement a bid for said bonds, which shall not be
less than per and eccrued interest from the date of said bonds to the
date of dolivery thereo£, ar.d the.City Glzrk is hereby directed to give
notice accordingly in the iVotice inviting Bids, stating the total par
value of said bonds and the maximum interest rate. '
�'�CTIOPT 7. That the time fixed for'the receipt of bids
for said bonds and for the i.mprovement shall be Tue:day'; August 13th
1929, up to 8 o'clock P.I�. of said day, and the place for the'opon-
ing of said bid� shall be the"Council ,Chamber of said City Council in
the City Hall of said At that time oras eoon thereafter as can
conveniently be done, the City Council will open, examine and declare
such bids and consideratign will be g9.ven to the rate of intorest .
at �vhich the immediate posseseion bonds are offered to be purchased and
the premium offered, if any. The proceeds,of the sale �f �aid bonds
shall Le paid to the City Treasurer of said City of Lynwood an d used
ns provided in this ?2esolution and in con£ormity with the requirements
of the said Acouisition and Improvomont Act of 1925; as �unended. The
said Acquisition �nd Improvement tict of 1925, as amened. The said
Advertisement calling for bids shall be published by the said City Clerk
by two (2) in�ertions in the "Lynwood Tribune", a eveeY.ly newspaper
printed, published and circulated in said City, and shall be posted f�r
not less than five (5) days at or near the Chamber door of said City
Council, the £irst publication and posting to be not less than ten (10)
days prior to the time Piged for the opening of' bids.
SECTION 8. Said City Clerk is hereby directed to transmit
to the City '1'reasurer of said City of Lynwood and attested copy of this
Besolution and Order, together with an attested copy oi' said �esolu-
tion of Intention.
SE.CTION 9. The Cit� Clerk is hereby directed to certify to
the adoption of thi� Resolution.
PASSED AND r�DOPT�'D this 30th day of July, 1929:
ATTEST.
H. Il�. i�urray.
Mayor of the City o£ Z.yn�vood.
P! . 47 . 6hapman
City Clerk of the City o£ Lyna✓ood.
_ ., ,,- � . -�
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STATE OF CALIFORIdIP., )
COUPITY OF ZOSA�IGI:iE5 ) ss. • • .
CITY OF LYN�OOD. ) .
I hereby certify that the foregoing ??esolutio:n was adopted
by the City Council of the City of Lynvaood, California, pt an ad-
journed regular meeting thereof held on the 30th day of July, 1929,
and peased by the following vote:
AYES: COUiVCILiUiEI1: Tweedy, Skelton, Anderson, Leevis, It4urray.
iVOES : COiT:TCILM�iV : Plone .
ABSFi1T: COUNCII.NiEP1; S1one.
F!. SJ. Cha man
Ci � lerk of the City o Lynwood
Californie.
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