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Home My Public Portal About395 (09-20-27) � �•: �- .�,,. , � � RESOLUTION N0. 395 � •. A RESOI,UTION OF THE BOl�?D OF T�USTEES, P?OPl HIQO'JVid AS mrtr; rrTy rp�i�IZ �� .THE CITX OF I,YNRd�pP, CA7,IEqRVIA, '. RELATING TO THE ISSUANCE OF STREET IP.!IPROUL+7!.4�T�TT B01?DS � PURSUANT TO RESOLUTION OF INTENTIODi PNIt�IBER 337, DL'TrR- ' PtIIATING.THE AeIOUI�TT Oi� UZT't?AID ASS�.SSP;?EI�'TS, PREBCRTBI THE DE1�?OntI11TA^tIO�tiS OP SUCH BOidD5 4.ZTD PROVIDID?G ,FOR THEIR ISSUAIvCE. ' � 4S'�I�REAS, pursuant to s,tatute, notice of filing list of unpaid asse�sments �vas du.�y given in the manner and form required by ]a w, . that the 4Varrant, Assessnent and Diagram reeorded'ori the 3rd day of ' August, 1927, for the n✓ork and improvement made by M. A. and P. R. Hughes under that certain contract a�¢arden to them on the 24th day of June, 1927, on Aiulford Avenue, Plaza Street and Long �each Boule- �rard in said City, and that said ,Varrant, Assessment and'Diagram �vere returr_ed to the Street Superintendent of �treet, together with a written statement of all payments re'ceived upon tYie said assessment, and after the full expiration of twenty (20) full days from the date ,. of said vrarran�t, the said"atreet Superintendent duly made and filed with the City Clerk of said City of Lynwood, a cornplote list of all . assessments uripaid upon the said assessmerlt, tivYiich list is now on `file in the office of the City Clerk of said City, no��i upon evi- dence s7iown, tkiis Board of Trustec�s, noN� knorvn as the City Council ' . of the CitJ o£ Zynwood, determines tYiat the assessments therein men- tioned were then unpaid, total aggreF;ate thereof being the sum of � Eight Hundred Thirty Dollars and Ninety-one Cents (�830:91) and that assessments ?�os. 3, 4, 5 and 6 aggregating, Three Hundred Forty- six Dollars and Sixty-nine Cents (�346.69) and no other has since been paid leaving a balance due .on account of said unpaid assess- ments o�' Four Hurdred Eighty-four T�ollars and Tiventy-t�vo cents (a�,484.22) and said list of assESSments unpaid filed by the Street Superintendent, as.aforesaid, appearin� in all reapects complete and correct after acce�ting and deducting the the assessments paid since the filing thereof, as hereinabove set fortn. Reference is liereby made to �esolution of Intention h'o. 337 of •ths Board of Trustees, now known as the CitJ Council of the City of Zyntivood, passed on the 12th da� of April, 1927, for a complete des- cription of the work herein mentioned, and to'the list of unpaid assessments filed as above notEd for the�assessments unpaid. AI;D 14�HEREAS, interested persons vrere notified in the manner required by law to appear before the`Board of Trustees, now known � as the City Council of the City of Zynwood, CaliYornia, in the Council CYiaeiber of the City Hall in the said City, at the hour of Eight -(8:00) o'clock P. M. the 20th day of �epteMber, 192.7, and. " show cause why boncls should not be issued upon the security of the unpaid assessments shown on said �treet Superintendent's list; and t'V:IEREAS, notice was duly biven the manner and form ro- quired by law that serial bonds to represent ui7paid assessments bearing interest at t1�e rate oP seven (7) per cent per annum �vill be issued hereunder in the manner provided in the "Improvement Bond Act of 1915",.the last installment of which bonds �vi11 matur.e zzine (9) years from the 2nd day of July next suceeeding ten (10) months from �their date. luid all.interestea persons having appeared beiore this Board of Trustees, noca knovrn as the City Council of the City of Lyn��ood, } . a ., ` ' . . . , . . . . . ' ' ' ... ' r. cy�— • . . . _'.'`' . r and having boeri given full� opportunity to sfiov�� cause whJ bonds should not be issued upon the security of thE unpaid assessments shown?ontthe said list, and all objections prasented having boen heard,and considered. � : NOW BE IT RESOLVED,�that the Board of Trustees, now known as the City Council of the City of Z;�nwood, d,o"hereby find and determine that no"cause has been shown why.tionds should not be issued upon the security of the unpaid assessments, and does hereby overrule all objeetions thereto, and does hereby direct the issuance of said bonds, ' 'and further.. - BE IT RESOI,VED AS FOZLOWS: That bonds shall be issued upon' the security of the said unpaid assessments to said ainount of Four Hundred Eighty-four pollars and Twenty-two cents (�484.22). The, said bonds shall be Tsn (10) in number, and shall be dated August 24th, 1929 and bear interest at tYie rate of seven per cent (70) per annum, and the denominations of said bonds and the dates of tlie•respective maturities thereof, shall be as follows: Bond no. Amount Date of Tv7aturity 1 $p48,.42 July 2., 1929 ' 2 �48.42 Jiily. 2; 1930 3 �48.42 _ July 2, 1931 , � 4 � �p48.42 July 2, 1932 5 yp48.42 July 2, 1933 .-� y �48.42 July 2, 1934 7 �§8.42 July 2, 1935 g �p48.42 July 2, 1936 9 . �48.42 July 2, 1937 . lp w48.44 July 2, 1938 � The first coupon of interest shall be for interest from Au- gust 27, 1927 to Ju1y 24, 1928, and the several coupons thereafter shall each be for the.semi-annual intarest, and 3E IT FURTHER RESOI,VED, that the signatures of tYie Treasurer of the said City upon the coupons attached to the said bonds, shall be lithographed or printed si:gnatures in place of signatures by hand, and :, : . ._ ' . .. _° . _. � =— . _ BE I1^ FU?tTHFR Rr,SOLVED, that the City Clerk of the said City �- of Lynwood be,,and he.is hereby authorized and directed to deliver forthwith the bonds herei•nabove enumerated to �lliot and Horne Company, assignee of the Contractor, iri satisfaction of the balance due upon its assessments and �'Jarrant. I hereby certify that.the foregoing Resolution was duly and regularly passed by the Board of Trustees, now known as tho City � Council of the,City of LJnwood, at an adjourned regular meeting of , the said Board or Council, held on the day of September, by the followin�g vote, to-wit: � AYES: Trustees Tv✓eedy, SkeTton; S.lurray,'Greenameyer. IJOES: None ABSEldT: Trusteo Rice. � � ATTEST: C. E. Greenam er '` Presiden • n?ow the Mayor of the Board of C. Z. Stoddard Trustees; no�v knotivn as the City Couneil of i y, er , i y o Lynwoo . the City of Lynwood, Calit'ornia.