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Home My Public Portal About533 (07-10-28) � .�. - �� _ � / �ESOZUTION N0. 533 IN THE MATTER OP ACQUISITION ItPdD IMPROVEt�IEI�T DIS- TRICT TdO. 19, Li'N1"dOCD, C�:�.IFCRliIP.. RESOI,Li'IOIv PASSIT•dG UPOiQ PROTESTS AlID OBJ�CTIODia TO THE ISSUAT.T^� OF BOA7DS TO OBTAIN I`s:IIviEDI�1TE POSS- . - ESSION I�147 02DFR FOR T:IE ISSUAT�CE OI' SLfCH BOlt'DS IId TFIE 1�40L'11T OP �298, 084, 65_. .. ',9HER�4S, at the hour and place and in the mann'er set forth in the notice of hearing upon the issuance oi bonds to obtain immediats posseesion in the above entitled matter, and in the. manner set �orth.in the Acquisition and Improvemerit �?ct of 1925, as amended, and pursuant to the puUlished notice oi sai� ilearing, a full and fair opportunity rvas accorded to all.persor_a owning land within the assessment distri'et in the above sntitled matter or othsr�vise interested and feelin� a��rieved by anJ act or determination had 'or taken in the procesdir_gs aforesaid, or claimino that any of the previous acts, determinations or pro- � ceedings are irregular, defective, erronoous or iaulty, or having any objections to offer or any reason to advance �vhy bonds should not be issued and sold in the amount and for the purpose set f'orth in ths published notiee of said hearing, referer.ce to which published notice is nereby made for the full description ' of said mattors, and �t�?iEREAS, no protost.•or objsctions, ��aritten or ora1, have been made to the said matters, and 's�lHEREAS, an o�oportunity has been given to all such persons desiring to bs heard thsreon so to be heard and a iull, fair and impartial hearing upon the entire matter has been had, IQOti� THEREE'ORT�, be it RESOI,VED by the said City Council of' � tne City o;E' I,ynwood and it is hersby deterr�iLad and ordered_ as follows: 1. It is hereby found that the Rssolution of Intention in Acquisition and Improvement Aistriet No. 19 of the City of Lyn- wood has been.actually published as in tho Acquisition a.t:d Im- provement �'et of 1925, as arnended, provided; ana that this legislative boc�y has ordered the acquisitions to be made and tnat this legislative body has by resolution deterrnined that the public interest, nseessity and convenience demand and require that the City of Zynwood take_immed.i�te posssssion and use of a11 the property sought to be condemned Uy these procoedings. . 2. That no protests or objections, in writing, have been, , � filed and�no oral objections and protests in this matter have been made by any pers¢ns owning lands within the said Acquisi- tion and Improvement District'l�o. 19, or'.other�vise interested . or feeling aggrieved by any act or determination taken or had ir_ the proceedings aforesaid, or elaiming that any oi the pre-. vious acts, or determinations or proceedin�s are irregular, defective, arroneous or iaulty, or having any.,objections to oi'fer or any rea,son to advance why bonds should not bo issued and sold in the amount of �298,Oa4.65 for the purpose of ob- taining the amount or amonnts requirsd by the Court in.order that immediate possession and use of the public ways, property or rights of way sought to be acquired under the proceedings. in the above matter may be had, ^ __ " . , �� .�... � �:..-. � 5. That this Council has powar and jurisdiction to proceed in the above entitlod matter and specisically that this Oouncil has at this tirne pov�er and jurisdietion to order that, bonds bo issued and sold to raise f'unds to obtain an oz�der for immediats possession. 4. It is hereby ordered tliat bonds of �cquisition and Im- '-provement District �Vo. 19 of' the City of Lynwood; be issuad_in '• the amount of iwo Hundred Tdinety Eight Thousand Eighty Four and 65�1'00 (�p298;U54:o5) Dollars, under and in pursuance-of the - Acquisition and Improvement �et of 1925, as aanended; that said - ' bonds shal-1 be dated July�lOth, T928, and shz.11 be in the aggre- gate principal sum of j298,0E34.65, to be paid and discharged ' within tv�enty five (25) years from=the. date her•eof, .to-wit, in twenty-two.(22) annuaT installments, namely, twer_ty-one (21) in- stallments of y�13,500.00 each, payable as'follows: �13,500.00 on the lOth day of July, 1931,, and a like amount on the lOth day of July of each year and every ��ear the'reafter up to and in- cluding the lOth day of �uly, 1951, and one installment, beirig , the last installrsient oY �14,584.65,�to be payable on the lOth day of July, 195c^. Said bcnds shaTl bear interest at the rate of not to exceed eignt per cent (80) per annur.i, the.sxact rate of interest to be hereafter determined upon the sale of said bonds, said interest to oe payable s:emi-annually on the 2nd day of January and the 2nd day of July of each year, e;cceptir� that the first interest payment shall be.made on the znd day of.Janu- _ ary, 1930, and the last installment of interest sha11 be payable at the maturity of the said bonds. The principal and interest on the said bond.s shall 'oe payable in gold coin at the.office • of the 'Proasurer of' the Gity of I,ynv�rood, and said bonds shall be ` ' signed by th"s Treasurer of the said City and shall'haye the seal - of.the said City thereto. affix�d. The interest-coupons,attached to the said bonds shall in such form as the.City Treasurer sha1L determine a.nd the si�nature'o£ said Tr.easurei on said interest - coupons sYiall be an engraved, facsimile signature. Said bor_&s shall be designated: "nequisition and Improvement Uistr.ict 3ond. ` Acquisition and Improvement Aistriet S,TO. 19 of the City of Lyn- wood, StatE of California, �� , Bond IQo. Series A".and the said_bonds shall b� in he form prescri s� d'by the Aoquisition and Improvsment i�ct of 1925, as amended, v�ith the blanks filled'in und wii:h vaz•iations as provided. • 5. Zt is ordered that the Clerk of this City �ouncil shall ` t'ransmit to ths ireasurer of' the ;;it;� of Lyai�✓ood an attested copy of this order and that bonds shall be issued in said amount and in ths form and manner provided in �lequisition and Improvs- msnt Act of 1925,.as amended. � 6. It is hereby ord�red tnat the Clerk of this City Council ; shall in the.nane of this Council advertise the sale of said bonds, calling Sor bids therefor, and it is hereby further.or-. dersd that the 24th day of July, 1928, at ths hour of eight (8:00) ' •o'clock P. NI., is the time and the Chambers of the City Council of said City is the place £or the receivir_g of sucYi'bids. Said -` � � -advertisernent sha11 be published by two insertions in the T,yn- wood Tribune, the r_ewspaper heretoiore designated f'or said pur- poso by this City Council. �a.id advertisement shall state t?:at said bonds shall be sold to the b�st responsible bidder for cash ai�id.that considera.tion shall be given to the rats of interest at v✓hich the bonds are offered to be,purchased and the preminm offered, if any, a.nd said rate of interest shall not exceed eight 'per cent (8�0) per annwn, and the rate of interest at which this ,City Council will sell said bonds wi11 be fixed at the sale there- � ' of and shall thereupon be fixed as the rate of interest triereof. This advsrtisement shall furtYier s'tata that the sa'id bonds shall not be sold for less than par.� . • • ._.,.: - ' _,n,`_ On motion, the foregoing resolution was adopted by the following vots, to-wit: AYE5: Trustees Skelton, Anderson, Murray . iJOES : Iione ABS�NT: Trustees Tweedy, GreenamJer.' I hereby certify that the above is a true, full and correct copy of the original now on file in my of£ice. That said docu- ment was passed by the Boaru� of Trustees, now known as the City Council of the City of Zynwood.at their rEgular meeting held 'on the lOth day of Ju1y, 1928. ' . ':l. 49. ChaFraan City Clerk of the Qity of Lynvrood.