HomeMy Public PortalAbout529 (06-26-28) t ,
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RESOI,U^1IOP� I��O. 529'
A RESOLUTIOId OF TI3� CITY.COUIQCII, OF Th'IZ CITY OF
LYNuV00D, CALIFORIJIA, REI,ATIIQG TO THE IS5174NCE OF '
STREET IMPROVIIdiE�:T BOI�'DS PURSUAi;l TO RESOI,UTIOR '
OF INTENTIOTd 1�UIvIBER 413, DETERi$IiVII�TG THE AIv10UIV'T
OP UNPtiID ASS�SSPaiEl�?TS,' PRESCRIBING THE DENOI+RI- "` '
N�ITIOIvS OF SUCH BONDS AND PROVIDInTG FOR THEIt3
ISSUAD?CE.
WI-IEREAS, pursuant to statute, notice of filing list of unpaid
assessments was duly given in the manner and form required by law,
that the warrant, assessment and diagram recordsd on the 2nd day oY
May, 1928, Yor the work and improvement made by Vido Kovacevich,
contraotor, under that certain contract awarded to him on the 7th
day of January, 1928, on GOLDEIJ AVENUE and certain portions of I,ouise
Street, Josephine Street, Uirginia Street and l�nes Street in said
City, and that said warrant assessment and diagram were returnod.to
the Superintendent of Street,�, together_with a written statement of
. all payments received upon the said assessments, and after ths full
expiration of thirty (30) full days from the date of the said warrant,
the said Street Superir_tendent duly made and filed with the City
Clerk of the said ';ity of Zynwood, California, a complete list o�
all assessments unpaid upon the said assessment, which list is now
on file in the of�ice of the City Clerlc of the said �ity, norv upon
evidence shown this Council determines that the assessments therein
'" mentioned were then unpaid, the total aggregate.thereof boing the -
sum of PZineteen Thousand Two Hundred rour and 21�T00 (�19,204.21)
Dollars, and that no assessments have since been paid.
Reference is hersby made to Resolution of Intention Number�413 •
' of the Board of Trustees, now known as the City Council of the �ity
of Lynwood, passed on the 25th day of October, 1927, for a e.omplete
description of the work herein mentioned,.and also to�the list of
unpaid assessments filed as above noted, for the assessments unpaid,
• AND VJHEREAS, interested persons were notified in the manner re-
guired by law to appear before the City Council of�the Cit� of Lyn-
. wood, California, in the Council Chamber of the said Counoil in the
said City, at the hour of eight (8:00) o'elock P. M. of Tuesday, the
26th day of June, 1928, and show cause why bonds should not be
issued upon the security of the unpaid assessments shown on the said
Street Superinter_�dent's list, and
4�T;IERE�S, notice was duly given in the manner and f'orm required
by law that serial bonds to represent unpaid assessments bearing in-
terest at the rate of seven per cent (7�) per annum, will.be issued
hereunder in the manner provided by the "Improvement Bond �let of
1915", the last installment'of wh'ich bonds will�mature nine years. _..
(9) from the 2nd day of July next succeeding ten (10) months from
' their date�
And a1T interested persons having appeared before this City
Council and having,been given full opportunity to show cause why
bonds should not be issued upon the security of tho unpaid'assess-
ments shown on the said list, and all objections presented having
been heard and considered,
140'N IiE IT RESOI,VED, that the City Council does hereby find
and determine that no cause has been shovrn ivhy bonds should not be
- issued upon the security of the.unpaid assessments, and does hereby
... ' . ' . . . .. . � . ' ' •lu1..0 ' .
overrule all objections thsreto, and does hereby �dirsct the issuance
of said bonds, and further,
B�E IT R�SOLVLD AS FOZZ06VS: that serial bonds sha11 be issued
: upon the security of the said.unpaid assessments to the said amount
' 'of ?Qineteen Thousand Two Hundred Four and 21/100 (�19,204.21) Dollars.
The said bonds shall be thirty (30) in number, known as Series
A:A, and shall be dated the 26th day of June, 1928, and bear interest
' at the rate of seven per cerit (7dfo) per annum, and the denominations
of the said bonds and the dates of the respective maturities thersof,
shall be as follows: �
Bond No. . Amount Date of it�aturity
1 ' �1000.00 'July 2, 1929 ,
2 � . .500.00 , do
. 3 - � 420.42 do
. 4 . �1000.00 July 2, 1930
5 . • 500.00 • do
. 6. _ =z420.42 do
q : �1000.00 July 2,.1931
g � 500.00 do
g 420.42 do .
10 �51000.00 July 2, 1932
11 500.00 � do
lg � 420.42 do
� 13 '. �1000.00 � July 2, T933
,14 , . 500.00 do
15 ' 420.42 ` do
16 �1000.00 ,July Z, 1934
l� 500.00 do
_ 1S • ' 420.42 do
19 �p1000.00 July� 2, 1935
20 . 500.00 do
21 420.42 do
22 $�1000.00 July 2, 1936
. : 23 500.00 � do.
. 24 420.42 � do
�5 ,�1000,00 July 2, 1937
26 500.00, do
27 420.42 do
- - 28 _ _ .. _ _ . - �;T000:00 -- - July 2, 1938
29 500.00 do
30 420.43 . do
The first coupons of interest.shall be for interost from the �
4th day of June, 1928, to the 2nd day oY January, 1929, and the
several eoupons oY interest thereafter shall be for the semi-annual
interest, and .
� BE IT FURTHER RESOLVED, that the signature of the Treasurer of
the said City upon the ooupons attached to the said bonds shall be
lithographed or print��l.Signature in place of a signatuse byr�i�nd,.
and
BE IT AI�SO I'URTHEH RESOLVED, that the City Clerk of the said
City oY Zynwood, be, and he is hereby authorized and directed to de-
liver f'orthwith:the bonds hereinabove enumerated to G. Brashears
& Co., a corporation; of Southern Securities Company of
California, aesignee of the contractor, in satisfaction of the balance
• due upon its assessment and warrant. �
I hereby certify that the foregoing Resolution was duly and
regularly �assed by the City Council of the City of.Zynwood,.Cali-
fornia, at a regular meeting of the said Council held on the 26th day
of June, 1928, by the following vote, to-wit:
AYES: Councilmen Skelton, �lnderson, Tweedy, ?tiurray •
NOES: ivone•-
� �BSEDIT: Councilman Greenamyer • '
� H. ;;.T. 2,4urra
� Yresiden of the Council of the
City o� iynwood, California.
ATTEST:
. W. �V. Chapman
i y lerk ,
(SE�) .