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� � „ y�" �- : r'RESOLUTION�•,NO 55•7 ^�
�.. � - 5. .. ' . ,,.. � � rp'Y .' ' ''k-+ : n r a.�..
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f� *, � , � ,��,` ' � _� -RESOLUTION PRE5CRIBING*THF.�FORM OF �, " t ' , y ',�
, , _ ._
' 3 �`' { -TO,,,BE'ISSUED;�,AND SOLp`FOR .THE�AC�,USSITI;ON ' , w `
y F~ "}<'� r OF THE INATER S'YSTEM�OF THE��.MUNI�CIP-AL'.PIA`t'ER , ;
r � r � w � "OOMPANY`OF PAL,OMAR' P,P:RK� INCLUDING_ IN SUCH x °' �� �;'� ��r
-� t��* ��� � r ACQUISITION THE PURC�iASE OF �THE EASTERLY�� ��� r r= r �'
�. .u,
' + ' „ � n 55 `�E�T. r,OF,LOTB; 5 AND"s6,•; OF' BLOCK �9 OF ;�' ;' � ;,
n � „�x W} `} ' TRACT:5418�'�AND At.SO,' �CERTAIN�OTHR.' ^'.'� ry "� t re*+�•,,^ rr ;};.
' � PROPLRTY;;COTITtFQTFn ��IITH SAID WATF'R. SYSTEbI. r: �
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� �'• ��Z� � —r � t �i m •" •��" �' r+ F i� �� r v :'Fr r^ �.'.. r..i ` n p'a^^ r a�TM .r t
�. �, r . i 't �. s. y t ., a .... � , � � a �� �.�V"' � i :
-. ry: e .�'. � � � r i. �a.. .✓- n
� ,..; ,� WHFREAS; the Foar�'bf 'Crns.tees� now known as` the City^ ,�' �"�
" '�'� CounciL.�of �'tre; Ci tv ���of Lvn.�vood',"„ has ritzTv deel�ared i.t"s interition �n
�, � �to'acovire' bv°�vr.chase. � .under "that cer�tain Act�rof the Le�i;s; �, ; �,
- ,.
s3 '�' " latvre'.`of �the�'State-s�oP� California�; known as ".'Munic�rial� niatrict :'
=t ' t Rct 1927;", approved May 24;",1927; certain properties, which �� � �f{
"� x' ��, �``'propert'ies are„hereiriafter refe'rr'ed to mo`re specific`ally, �� 5 , � "�°
.
„. � .. . � .. �. . � � . ,., a . � � '.' i� � � � ,'.
t i � � �.i ,.... - , -.. , . : F ,.
' , , �-Y � ,AND uVhF'�NEAS „the said �i�oard�, of Trizstees ;has�` caused iri due `; � a r
, , a �
� � form of;`law ari; election, to be held in the di"strict .of land 'to �
�� •be �f'fected by� the purchase ofr said,water system and:iother +pro ,� 4 ,_
�. +`,`�h� �;,.perties coririected .tYierewith`, which said`election was held;'as 4 �
'�:�.� �-,r'equire�d by th'e said,act,.�'on June.,23, 1928 within� the territory
, -_ �..
i�
,`�': �� which "said wat,er;district i's situated, 'and which sai'd district �
° f. � is :set: forth in detail and'"descr-ibed fully, in :Ordinance No�. 106 ` .
,� N ,.'of='the Ordinari,ces of� said .City'of'I,yntivood, relating to said ,°; ,�.
^� s, acquisition of.said`rwater,system,and propertyy"r = � ',
ti r ,.a a .t Y' � " ;� i � p �^ yp �; rt,�, fi�,_- 1 `" ' �a � a's V x . ,'- r �d�
r t, � �'' z •egND VVf3EREA8 a�t said-��election`�more than� ��fourths 4 * -` r ,;
-� .; ,�(3/,4ths,) of� the electors voting ,at the" said eTection on the pro �
�, r,'� ' '.,-positiori whettier Municipafi:_Improvement Distri'ct bonds, to' bbe ,-. , z r
a � , .: .. �� •
t �� �known a's "Ac� ` 1927 Muni'c3pa1 �Improveinent.District�- No. 1�'.` �` � " ,
� S ' "should;be�3ssized arid'bee�s.old,�vot',ed�,in,.:favor,.;of the acquisition =, , < `"
, , and purchase by the City of ,Lynro�qbd, fqr the b of said ! t.Y
`� • a, distri�ct, �of .said wat'er system; ;a"nd the�other. ro erties arid
, � appurtenances°:connected' th`erea3ith°,� and.'also voted,by, a similar �', ;
* ,,Evote �that the;yCity� of Lynwood �acquire by piarchase the said'; �� , .;,
��'", ���� �water�:�syst�em-��'and progerties, at.�a� pux'c.hase price of� Eight ;: ; �
.,'• +' . Thousand (�5;000 00;)� Dollar,s„ ariel r that` the said di§trict should
j'.;incur„�a.bond'ed ind'eb;tedne;ss, o��Ei.�ht mhousand<`Two;�Hundred y s
7 • ,� x
.� � .�; ('�'5,�0:0`.00), n:olalars; (Two; (`�200`00)£Dollars�xof whi'ch
, ., .
� ,,; , °sum bein�,fo.r:,tre exoenses;,connected with saj.d elec`tion).,for the'' �
µ' `gurpos,e' of :acq_uisition by ithe Ci;tv of Lynvi,00d for the benefit s r :`
� = of ,,said distr:ict �of''the said water spstem, ntrogether' with ,the x "« ', :
� , ..�
} = } .:'operati,ve;property,,real sand"p,er.sonal,•�now..used,in connection , �;,.
���
a '' ' `.therewi;th� 'arid now-„operated by!the said` company, wYiich oompany =,"
''i's kriown as Palomar• Pa.rk Nater�. Company, ;:and whi.ch �
F `�:'. �,� � � -. � `
� :� `' water�°"system 3:s�known as` the:PaTomai ,Park udater'Sys ;. �::
' ' � ,:includes therewith .the we11 of .said compang=and the °easterly, •• �
n . � !,
�� 4 :, ,�r � twenty��-�fi� � 25 )� eet of Lots 5�and 6 of Block 9 of ;Tract' 5�8� 3;
`AND V7HEREAS r.eturns,.'of said : electi,on wer.e dulg �can
va9sed;on �the, 25'th. �day of� June;,'1928," by thes" Board of 'Tritistees k �
� of the;;.'said• City 'of Lynwo.od, and• the r'esult , of said canvass is ��
" �:' �' ` made` to app'eas in Reso],ution No:,' 523 �of the rssolutions of �said
,.
� °° ,..Board-'of Trustees,.to �vhich res,olution reference is"�hereby made,i e �
; .�, . � ',: � � ' � � ;
� �' �` NOy9,� TAEREFORE, ac,ting iznder the, terms of,, said "Municipal••, sa
'* ;�,x_ `Improvemen't.-District�Act",�of 1927"lthe;Board��o£ of ofe�•z' � ' j �
w � �City, of 'Lynwood� riov+ known as th'e City�� Counc'il, "
' res,cribe the,form of the said�bonds"..to be,r, 4 � �,
'y " , .Lynwood, does hereby p `�x � a''
.
5 � �,� � - r. .... . :r .
J s•
,. ,,� � issued. and s.old, and' of "the inter,est c.oupons.,attach�ed there o, tl
° � ; M1 �` µ . � � �" M^ +� � r Fk Y
y 9 � f l
^er - x ...'+ c � v .
4 S � "�k a "� i '' � � f , J � S l� E ° � � � � � .i� �
t.w. d ' t N � ,� r s �
. t � � f. A x8
5t h i� � r x � �
`+ � '� t ' d. � T. i � t 'li�� t 'F.Y i4 ��� .'i'.
4 r
,�: Yy t � ? � y � �-. E . � B :� � � � �'� � � � � j�dt A � � ,•
. „ z
.... . .., .. ...,. .. , � . ...p. �..� . . . ... .,/. ., ... . ,�.'. .�i� . r ..,. ' ���-,�.....��, � , x .t ...
Sy d �
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. . . �.
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,. and also herebg presoribes the.'amount.of.interest that said'b.onds '. �.
� shall bear when sold; to-wit: the said bonds shall contain sub--
� stantially the'followin� matter: �� '
Said bonds�sha''1 re�f^Tt�*,-(40) in number,.numbered con= ,
secutivelY one to fort,y,.(1 to 40); both inclusive �each of such .
bonds to be for Two Hundred'Five Dollars (�205.00j;. and each of ' �
' suoh bonds shall be payable, each and'every vear, at a date.here-
� � iiiafter stated, one bond of Two Hundred Five Dollars (�205.00) "
to be paid eacki.year, commencing with No. 1-and ending with No. 40.'
The Principal of the first bond::,,of said series shall be paid on
the"2nd day of .July; 1929� together`with iriterest on all sums.
� �,. unpaid.on such date, and so':on;.until the whole of said indebted- �
nesa sYiall have b�een paid. All such bonds shall be. paid at the -
'�office of the bity Treasurer of the City�of,�Lynwood; State of
Cali£ornia. The interest to be paid.on said bonds shall be_seven �
. (7) per cent per ennum, payable semi=r�nnualTy on the 2nd day of
`January and July of each year.,,at the.office of the.City Treasurer
of said City of Lynwoody ,as aforesaid. All bonds shall�be signed
by the Mayor..of the City of Lynvrood; he being,the Chief Executive
� "of said City� of Lynwood; �and also sYia1T be �s,igned by the Treasurer
of said,City,of Lynwood. The interest coupons of said bonds shall
tie numbered consecutively;and signed by the.Treasurer of said
, ' City o£ Lynwood by his-�or her engraved or•lithographed signatiire:.
And said borids be iri the_following form, or.as n,ear as
' may be, ,viz: ..: ..
�• UNITED�5.TATE5'OF, AMERICA �
, STATE.OF CALIFORNIA ,. ,
, - No. � �_ . . ,�`2 _
CITY OF LYNYVOOD, _ - ,
. ' County of -Los� Angeles '
.. , . . Adt. of 1927 `. . .
" . Municipal Improvement�Distr.ict Bond ,
Under•and by virtue of the�Qct:of the�Leg3slature of .
the State of California, entitled: "An act. to provide for the
•formation of districts within NIunicipalities for the acquisition.
. or construction oP public improvements, works and public utilities; .
for the issuance; sale and paymexit of bonds of such districts
to meet the:cost.of such'improvements; and for the acqu'isition
or construction of such improvements;,approved May 24th, 1927!',
and acts amendatory thereof, the CITY OF LYNWOOD (.a municipal
_ corporation) will on the 2nd day.of JULY, 1929,.out of the,Pund
provided for,the payment o£ bond's, including this bond; in the
• matter�of'the acq_uisi'tion end purchase of the nveter system and
properties of the Mutual �'Jater Company of Palomar Park, incor- „
porated,. as set forth and,described�in 6rdinances No. 106 and
107 of the Ordinances of the City of Lynwood, and in the other
� roceedin s relative to said bonds of record.in�the City�of _,_� ._,�_�_.
;.�.P . . _--- -- _ -°
- � ' L wood, pay to bearer the sum of TTV770 HUNDRID FIVE . DOLLARS .
(�205.00).with interest thereon from the 31st dey of July, 1928,
at the rete of seven per cent per annum, all as is:hereinafter
" specified:snd at.the office`of the City Treasurer of said
• municipality. ' • ' •
" This"bond is one of several annual series of bonds of
- like date, tenor� and e£fect, but differing in maturities, issued
. by said municinality under said act for the�purpose of providing
means for� paying for the acau9_sition by the- City 'of Lynwood of _
the water sdstecri �nd. nronerti:es o.f the Mutual Water Company of
� Palomar P.ark, under.said Act of the Legislature of the State_of
� California; and is secured-,b,y money raised r.y taxation on�the
. ' ` . . , � r . ,
_ : , . . . - . , .,,.� .
� ... � � K.� . - . . . � .. " � . � • . . • . . ' '
land of the di'strict'benefited and"desoribed in the aforesaid
� resolut.ions, and, including principal and,interest, is payable .
� exclusiyely out of such funds. • "' .. '
• The intere8t is�payable semi-annually, to wit: on
the second days of January and July in each-yeer hereafter, upon
presentation of the proper,coupons therefor; provided that the .
Pirst of said,00upons is for the interest:from July�31, 1928,
to the 2nd day�of January, 1929, and thereafter the intsrest
� . coupons are for'the semi-annual.interest. `. :
' This bond will continue to bear interest efter. maturity
at the rate above stated; provided, it is presented at maturity
� and payment thereof is refused upon the sole grourid that there ' -
is not suffici,ent money,s in "said. redemption fund with whi'ch to' "
� pay sar.ie. If it is_not presented at maturity interest thereon
' will run until maturitg. - .
And the said Qity of Lynwood by and through its Board
o£ Trustees hereby promises and' agrees with the holder of this,
bond to levy sufficient taxes on the land"within said`district �
to raise money,suffioient by'taxation to provide funds adquate-
to,pay and discharge the principal of this'bond "and eccrued interest.
IN. �NITNESS W�3ERREOF, said CITY OF LYNSNOOD has caused
this bond to be signed b� the Mayor of°said Citp of Lynwood and
by the Treasurer.of said Citv, and has caused its Clerk'to•affix
thereto its.corporate seal all on the'4th da,y of September, 1928:
� . H,: M. .Mtxrrav ' "
(5EAL) . . . aqor
. - COUNTERSIGNED . : . :. . .
. Pl � W Chapman ` . reasurer . -
(:1tT�k
� - The coupons shall'be substantially in tHe following °
form, to-wit: 19 , TFiE CITY .
On the 3econd.day of January (July),
OF LYN�"100D will pay to the bearer hereof,° at the office of the
Dollars
�. Cit,y Treasurer of said City, the sum of ent of the above
out of the funds provided by law for the paym
bond; for semi-annual interest on�Act of 1927 Municipal Improve- ..
ment District Bond No. of the City of Lynwood. � _ �
D&ted: i
- . City Treasurer - '
SIGNED, adopted and �approved this 4th day of Sept-
ember� . . _
• . . : H M Mwrr ay —
ATTEST President of the Board of
, Trustees, now knocvn as the Masor
M.. P7. Cha man of . th.e City of _Lgnwood.__ ,- -- __�__.
—, . . w— ity � -er -,= i y .. f. ��voo -.' _ _ -
- I� i;�, NI,' ChapmAn, Cit,y Clerk of the Cit,y of I�qri�uood, and �
- I:ac-officio Clerk of the Board,of Trustees, now known as tre City
' Counci� of said City, do hereby : certi£y .that £he,foregoing Reso-.
-lution, being.�esolution No. 557 the C�ty of Lynwood, was
" introduced and read and adopted at a regular meeting of said Board
or�Counail held on the 4th day of �eptember, 1928, by the follow-
� ing vote of the member:s thereof` :.. -
AyEg; Truatees.Tweedy, Skelton, Ander.son, Greenamyer, Murray
NOES; ..Norie . , � - .
AI3SENT c None " '
. , ` .
_ W 4V Cha�yari
, ' City:Clerk, Qity of,Lynwood