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IiV THl ll4ATTLZ 0�' ACQUISI^1ION AiVD IL•iIPROVF�.4EiVT DIST3ICT id0. 18 OF
� TI�E CITY OF LYN+700D, ClaLIFORidIA.
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RESOLUTION N0. 657.
A?�ESOLUTIOrd OF THE CITY COII"ilCIZ OF THE CITY OF' LYIQFJOOD A4V��2DING
COi�ITRACT FOR IIl4P°OVL"Q�IT A?�ID �R THE SAZ� OF L�PdEDIATE POSSESSION
BONDS OF TH� ACqU?SITION AND IT�,4PROVP.`b'LidT ➢IST??ICT N0. 18 OF THE
CITY OF LYirt�`OOD, CALIFOT_?NIA.
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mH�REAS the City Council �S the City of
open session on the 13th day �f f;uguat, 1929
, e%amined and declared sll sealed proposale c
^L�nwood, having in
, publiely opened,
r bid� received far
the perfpzmance o£ the v�ork end improvement described in Res- �
olution of Intention 2do. 626 in the above entitled matte'r, adop-
ted on March 26th., 1929 (which said �:esolution of Intention is
hereby referred to for a description �f eaid �rork or improve�nent)
and for the purchaee of immediate possessipn bonde of Acquisition
and Improvement L'istric.t No. 18 of the City of Lyn�rood, dated
July 30th, 1929,.in the aggregate principal eum of ��`'182,690.71,
eaid proceedings for said work or isprovement and f'or the issuance
of said bond�,being taken under the Acquisiti2n and Improvement
Act of 1925, as amended, and, �
FJ3EREAS, the City Council of the Cit� of Lynwood adopted its
Resolution No. 652 on the 30th day o£ July, 1929, ordering the
isausnce of said immediate posseseion b�nde.
N0�9, THr�REFORE, BE IT RESOZVED by the Cit� Cauncil of the City
of Lynwood as follows:
SECTIOiV 1: That it is hereby found and determined that GEO.
H. OS�IAZD ie the lov✓est responsible bidder for said work or im-
provement.and that the combined bid of' said bidder for the work
ar improvement and �aid immediste poeeeesibn bonds is the loeve�t
and best bid of any ree.poneible.bidder for said �vor� a� improvement
and said immediate possession bonds, coneideration being given
to the rat� of interest at whieh said bonde are offered to be pur-
chased.
SLCTION 2: That all of said immediate possession bonds, in the.
sum of 5p1�2,690.71, described said �esolution i?o. 652, are
hereby sold to said purchaser, to-vrit: GEO. H, OSi�ALD, herein=
after referred to as the "purchpser and contrsctor", in accord-
ance with tho notice inviting bids Par the sale of said bonds and
in accordance with said proposal, and that the City Treesurer be and
he is hereby authorized to cause eaid bonds to be printed or
lithographed with the interest rate of eeven per cent (7°fo) per
annum, payable eemi-annually, as specified in said p,roposal, and
to deliver said bonds to said purchaser and contractor upon
payment of the price mentioned in said bid, to=v�it: �182,690.71.
The bonds harein sold are described as follows, and the
intere�t rate therefor is hereby fixed and esteblished as
hereinafter eet out, to-wit: '
3e bonds are numbered from 1 to 183, inclusive, and
bonds numbere 1 to 182, inclusive, are of the denominati�n oS
$1,000.00 each, and bond number 183 is of the denomination of
�690.71. Eight of eaid �1.,000.00 bonds shall be payable each
and every year thereafter, up to and includirtg twenty-four years
after tre date of issuance, and on the twenty_-fifth year after
.—the date of issuance, six af said �1,000;:00 bonds to-wit; --
i K�
'�.� •
BondE nue�bers 177 to 182, inclusive, and said bond number 183 in the
denomination of �690.71, are payable.
� Said bond: shall hear interest at the.rate of seven per
oont (7f,) per. annum, payable semi-annuslly, and both principal
and interest on �aid bonds are payable in gold coin of the Uni'ted
States of America et the office of the City Treaeurer of the Cit�
of Lynwood. .
The interest on said bor.de ie•pa3%able semi-annually on the
2nd day of January end the 2nd day of July of each year, beginning
on January 2nd, 1931, until the maturity of each of said bonds�, re-
spectively,�
Said bqnds are dated July 30th, 1929 and are in the form pre-
ecribed by the Aa and Improvement kct of 1925, as amended
and are deeignated as Seri:es "A':
5�CTION 3: That it ie fhrther ordered that the contract for
eaid work or improvement be and is neroby awarded to said purchaser
and contraetor at the.prices set forth in the bid of said purchaser
and contractor on file with the City Clerk. ' '
SECTIOTl 4: That the combined award far eaid work or improve-
ment and f�r said immediate poseession bonds be and the eame i�
hereby made to the said purcha�er and contractor.
SECTION 5: That the City Treasurer of the City of Lynwood be
and he ie hereby directed, upon receipt qf p&yment £or said immed.iate
poseeseion bonds in the amount above s et forth, to use the proceeds
pf said bonds to.the extent of �182,690.71 by depositing the same
with the Clerk of the SuFerior Court of the State of Californis in
and for the County of Loe Angele� in a.ecord�nce'wii�h the order of
said Court in the certain action IQo. 283379 pending therein, entitled
"'CITY OZ' LYSd?NOOD, A�iunicipal Corp�ration, Plaintiff, =v�- L, p.
ACKL�Y; et el., Defendante", directing the deposit of the same as
security for the taking of immediate posseesion and use of the
property sought to be acquired in.the a�bove entitled matter.
SECTION 6; That the City Clerk of the City �f Zynwoo`d is
hereby directed to poet a copy of' the notice of award of the contract
for said improvement and of the sale of said immediate possession
bonde for five days at or near the uhambor poor of said City
Council,-in the manner and form required by law, and he is also
directed to cause the same to be publiehed by two inse,rtions in the
LYII:�JOOD T�IBUNE, the newspaper'designated in the Resolution of
Intention. ,
S�:CTI011 7: That the Superintendent of �Vork in the above entitled
matter ie directed to execute the'contraet £or said ivork or improve-
ment in the manner provided by law, provided, hovaever, that said
Superintendent of �iork shall not execute said contract until pr�y-
.ii�ei:t for said immediate possession bonds is made by� ssid purchaser
�.and contractor=to the said City`'Preasurer and not until the City '
of Lynwood, in said action 1�0. 283379, has obtained a valid Court
Order �udgment or decree, entitling it to possession of the
public ways neces�ary for the improvement in the above entitled
matter.
S�CT10N 8:
sttested copy
Of ?.yllYJ00C1.
The City Clerk is h�reby di.rected to tranNr�it and
of this kesolution to the Oity Trea�urer of tne �ity
SEGTION 9: `That the City Clerk is hereby directed to certify�
to the adoption of this ?2esolution. .
Pessed and edopted this 15th day of August, 1929
.,
i� Iti
APP?204ED :
, .
ATT�ST:
H. *d. P�urre
Mayor � the Ci y of Lyn�vo od .
�N. Y�1. Cha man
i y C er o he Gity o Lynvrood.
�w:
STHTE OF CALIFORVIA )
COU�ITY OF LOS 6NGELES ) ss
CITY• OF ZYNiA00D )'
I, nereby certif� that the foreg�ing �eaolution was adopted.by
the City Council of the City of Lynwood, California, atjan ad—
�ourned regular meeting thereof held on the 15th day of August,
1929, and passed by the follo�ving vote:
AYES: COUNCI�,i'��Q Tweedy, Skelton, Levris, ;durrsy. ,
NO�S: COUidCII,PJlLS1 None. -
ABSE�IT: COUidCIS1!�IEiV AndQrson.
Vl, F�+. Cha man.
City Cler of the City o
Lynvlood, Cali£ornia.