HomeMy Public PortalAbout270 (09-23-25) ' . _ , .,.•
. • . �• : RESOZU1roN z�To. z�o ; . _
� 'x R�SOi,UTION OF THE BOARD Ci� TRUST�ES' OP THE CITY
O�a I�YIT?t�!OOD, CALIFORNIA, R�LA�ITdG TO THE ISSUANCE '
OF `.STREET IIt-tPROVEP�,fEItT BODIDS PURSUADiT TO RESOI,LTTIOn' ,. .
OF.IT�TET�TTION P?0. 229, DETEP1tIIIdIRTG THE �Iv70USdT OF.
UNPAI� ASSFSSZrIFIQTS, PRESCRIBING' TNE DFNCT�fIII4ATi0ftTS
•- OP SUGH BONDS APi� PROVIDIIvG -FGR THEIR ISSUI�'�'C�. ,
. "� `Wh�ereas, pursuant to statute, notiee of filing Tist of unpaid`
assessments was duly given in the manner and form required.,by lavJ,
that the;'warrant, assessment and diagram where�recorded on the '��rd �
�'.a� of July, 1925, for the �vork done and improvement, made by Harry
T. Rrown under that certain contract awarded to them on the 8th
day of April`1925, for the improvement of Josephine Street, and
other Strests,.in the n-todjeska Tract, in the said"City of Zynwood,
and tnat said warrar.t, assessment and diagram vaere returned to the
Street Snperintenclent, of-said �ity togetlier with a written statement
° of all payments reeeived upon the said assessment,.and after the .
. expiration of (20) full days Srom tYie date of said warrant, the
� said warrant, -the said Street Superintendent duly inade and filed
with the City Clerk of the said Ci.ty of lynvrood, a complete list '
of all. assessments unpaid upori the said assessment, vahicli list :
' is no�r ori ,file in the , office of the City Clerk of tlze said City, .,
how upon evidence shown this Board determines-that the assessments -
-. °�.theroin menti:oned wers then unpaid, the total aggrega'te thereof
' being�tne sum o�' i'?ine thousand ttivo hundred ninety-four and 15/100
_ , ,. ;: r . ��`d°9,294.15).. _._, _: _ -_-� .. ,-_ _, . , __
: • Reierenoe",is hereby made to Ftesolution o� Tntention �o. 229
.of the Board or Trustees.of i;he City of Lynwood, passed on the
. day oi October,, 1924,,for a complete description'ot the work,herein
: mentioned and to the list of unpaid assessments fi3e'd as above �
noted for the.assessments unpai3.:
'` . ^ AN� 4"HE?�EAS, int'erested parties v�ere notified in the manner
required by law to app�ear before the Boa.rd oY Trustees of tne sai.d
City of ?•ynwood,. California,'in ths Council Chaanber of the.City`. -.
-. Hall, •in said City, at the hour of 8 o�.clock P. �2. oz Udednesday,
the 16th day.of.September,. 1925, at which matter was adjourned to
8 P.��t. `of� Septe�aber 23, 1925„and show cause v✓hy bonds should not
be issued upon�the security`of the unpaid assessments. show on said
- Street Su.perintendent's 1ist, and �.� .
,,. t�t'H�EAS', notice was duly�given,in the.mariner and iorm 'required
'. ' by law that serial bonds to represert unpaid assessments, bearing
' interest at the rate of seven percent (7%0) per annum, �vill bo
issued 'nereunder in the manr_er provided in tne "Improvement �ond
Act of 1915" the last installment..of which bonds shall mature nine..,. ,._
- � (9� years"fr"om"tYie 2nd day of July next succeedin� ten (10) months�
• ° from their date.
ilnd all inte•rested persors having �ppeared before this Board :
of Trustees and having been given:full opportunity to show cause ,
why bonds should not bc� issued upon the s'ecurity of the unpaid
. ' assessrnents ehoc��n on said•1ist; no objeeti.ons`having boen ,
Prese�ted, , ,_ .
. I�Oi9 �� IT RcSOLVFD, that the $oard of Trustees does hereby ' ,., .
' find,and determine that no.cause has been showri why honds 'should
� � not be issueci upon the security of sa.id u.npaid ,assessrnents and .does •
� " hereby.overrule all objeetions thereto, and does hereb� direct the �
' issuance of said bond5, and �iirtl2ar, ,
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BE IT RESOZVED AS FOLZOP�S, that bonds shall be.issued upon the .
' security of said unpaid assessments to "the said amount oi Nine
^lhousand Two Hundred Idinety-four and 15/100 Dollars (�9,294.15).
The said bonds shall be thirty (30 in number, shall be dated
Se tember 25, 1925,,and bear interest at the� rate.of seven percent
(7��j? per annum, and the denominations of said bonds and the dates
oi the respective maturities thereof, shall be as follo�^�s:
BO1�D N0. �t,iOUNT DATE Or' P,"_ATURITY
1 �500,00 July 2, 1927 '
2 ' 300.00 do'
3 ' . 129:41, do
4 �500.00 July 2, 1928
5 . _. 300.q0 do
� 6 129.41 .. do
7 ' �,�'p500.00 � • . - July 2, 1929
8 ` . 300.00 � , . do
9 129.41 . .. do
10 �;500.00 July 2, 1930
. 11 . . '-. 300.00 do
12 - 129.41 do �
13 " �500.00 July 2„ 1°31
14 • 300.00 do
15 129.41. do
16 �500.00 � � July 2, 1932
17 300.00 do
'. , 18 129.,42 do
19 :�"500. 00 � July 2, 1933
20 300.00 do
21 .,_ . . __ , . -.. 129.42. .. � _ do_. _._
, ' . 2� . �p500.00 Jul;� 2, 1934
23. 300.00 do
24 129.42 do '
., 25 w500.00 July 2,`1935
26 300.00 do
27 129.42 do
28 �5U0.-00 Jul'y 2, 1936
29 300.00 do
30 129.42 ' do
The first coupon o� intorest�shall be for interest from F.ugust
13, 1925, to January �nd, 1927, and the several coupons thereafter
shall each be for the semi-annual int,erest; and
BE IT F'IJRT?iER RESOLVFD, that the signature of the Treasurer of
said City upon the coupons attaehed to tho said bonfls sha11 be
• lithographed:or printed•in place of a signature by'hand.; and
B� IT rURTHER R�S�I,VED, that the City Clerk oi said City of
Lynwood be and he is heroby authorized,and d.irected to deliver
forthwith�the bonds hereinabove-enumerated to Quirk Br.others -
Los E'in�eles, California, assi�,nees oi Harry T. Brown, �ontractor,
in satisfaction of the balar,:ce due upon its �ssessraent,and warrant.
I hereby certify that the foregoing Resolution was duly �nd
regularly psssed by the Board of irustees of the City of Lynwood
at an adjourned regular rneeting of the said Board 'neld on.the 23rd
day of September,_1925, by the f'ollowin� vote, to-�^�iti '
AYES: Trustees Huteninson, Tweedy, Gordy, Reed, Downey
NOES: None
A3SENT: None
F. Ai.. Downey
' ' President'of the Board of Trustess
of the City oi ?,gnwood.
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., .,�.c. . � . . . ' , - . . - ..... .
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I hsrebj� eertif� that the above and.loregoii.g resolution v�as
passed and adopted by ths 3oard oi lrustees of ths City of Lynwood,
Calif'ornia, at the time and by the vote above stated.
rred E. lM1'elch
Sity lerk of the ,ity oF
� ' Lynwoocl, Calif'ornia.
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