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RESOLUTI01� I�O. 107
' A RESOI,UiION O�r+' TH� BOARD.OF TRUST�ES OF TNS+ CITY
, OF LYN4VOOD, CALIFOR�TI�, Rr�;i�^1IPTGNTO THE ISSUAl�?CE
OF STREI�T IPiPROVEIS:?E1�TT BOIITDS PURSUANT TO RESOLUTION
OF IP?TEP?TION PtO. 58, DF:TL+'�'�I�lTIT�iG THE `�P?OUt�IT OF UI\-
FAIt� ASSESST�4EIdTS, PRESCRIEING THE DLTTOIviIArATIORT OP
-SUCH BOP?DS AD?L PROVIDI?�TG POit TH�IR ISSUr1NCE �?D
_ � SA�E. .
['JHEREAS, pursuant to statute, notice of filinj'list of unpaid
assessMer_ts v.�as dul;� given in the manner and fo�m required by lavr,
that the warrant., assessment and diagram recorded on the 30th day.
of Jur!e, 1923, for the vaork and improvement made by FJ. E. Fiall,
under that csrtain cor.tract awarded to nim on �the 21st day of
S,4arcH, 1923, for.the improvemont of a portion of Josephine Street in
the City of I,ynwood, California, and that said warrant, assessment
and dia5ram wsre returned to the Street�Superintendent of said
.. City,.and that the return was recordecl by him on tho 3rd day of ,,
July, 1923; and after the full expiration of thirty (30) days from
, tho date of the recordin� of said warrant the said Street Superin-
tendent, duly mad.e and filed with the City ClErk of said City of
I.ynwood, a complete list of all assessments unpaio. upori said assess-
ment, �vhich list is now on file in the office of the City Clerk of
said City. Upon ovidence shov✓n this Board•deterrnines that the
�assessments thereon mentioned vaere then unpaid, the_total aggregate
tnereoY being the sum of ;'11,643.17,�and that assessments.niupbEred
,_ 25, 27 and 28,,aggregating �28.II9, and no otiiers,,,have.,sinc.e,been ,
paid, and �that tliere nocv remains unpaid_ the sum of �11,614.28 upon
the assessments sho�vn upon said list, other than those hereinabove
last noted as having been paid. �
Reference is hereby made to �2esolution of Intention No. 58 of
the Board of Trustees of the CitJ of Zyntivood, passed tne 17th day
o:E' January, 1923, for.a conplete description of' the work herein
mentioned.
Al`dD 1^lHFREAS, interested pereons were notif'iod in the mannor re-
quired by law to appear before the Board of Trustees of the.said City
of I,ynwood, California, in the Council Chamber thereof at the hour
of 8:00 0'clock P. P�2. of 1Yednesday, the 22nd day o£.August, 1923;
�° and show cause why bonds should not be issued upon the security of
the unpaid asssssments shown on said Street Superintendert,'s and
�°1HEREAS, notice w�as duly given in the manner and form, required
by larv that serial bonds to represer.t unpaid assessmerts and bear
interest at the x•ate of seven per cont per annum, will be issued
hereunder in the manner provided in the "Improvement Bond Act of 1915"
the last installment of which bonds shall mature•nine years'irom the
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'- .._ . ,a-sacond day--of--July next succeeding nine months from their d.ate; �
And all interestecl.persons having appearsd before thie Board of
Trustees 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 said list, and all objections prE;sented having been
heard and considered;
NOPJ, BE IT RESOLVED, that the Board of Truste does hereby find
and determinecthat no cause has been shou�n why bonds should not be
issued, upon the security of said unpaid assessments and does hereby
overrule.all objections thersto, and does hereby direct the issuance
of said bonds; and further, , '
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, BF IT RESCLV�D, as folio'v�s:. That bonds shall be issued upon the
_ security of the said unpaid assessrnents to said amount,of;5p11,614.28.
The said bonds shall be 30 in number, shall be dated August 22nd,
_ 1923, and.bear interest from July 30th, 1923, at the rate
per esnt per annum, and the denominations of said bonds and dates
of the respective maturities thereof, shall be as follows: ,
Bond No. l� L�MOIINT .' DATE OF MATURITY `
1 w500.00 July 2, 1924
� ; . - � . . 500.00 ... . . do, ,
3 161.42 do .
4 �500.00 :Tuly 2,.1925
5 � 500.00 do
6 161. 4 2 ...do
� �500.00 July.2, 1926.
g. . _ 500.00 ' � do
�g 161.42 do
10 • • � July 2, 1927
11 500.00 do �
12 161.42 do
13 �500.00 July 2, 1928
' 14 500.00. • do
15 161.42 do
16 �500.00 , July_2, 1929
•lq , � 500.00° , do
lg ' 161.42 do
' 19 5p500.00 July 2, 1930
20 500.00 do.
I 21 161.42 do
22 �500.00 July 2, 1931
" 2� 500.OQ . _ , . �.. ,. a
I• 24 . 161.42 do
� .25 ' �500.00 July.2, 1932
26 500.00 do
27 161.42 do
2fl �. �500.00 July 2, 1933
29 . . 500.00 ., . do
�30 161.50 do
BE IT FURTHER R£SOLVED, that the signatnre of Treasurer of
said-City upon the coupons attached to the said bonds sha11 be a
lithographed signature in place of a signature by hand; znd
BE IT-�lI,SO FURTH�R RESOLUFD, that sealed proposals'for the pur-
ohase of said bonds will be received up to.the 5th day of SeptEmber,
,1923, at 8:00 o'clock P. bl., whereupon said bonds will,be.sold to
� the highest bidder therefor, but for'not less than par and accrued
interast.
The City Clerk is hereby directed to advertise for bids tnerefor,
by publishing a notice once a u�eek Por two (2) �veeks in the I,ynwood
Tribune,__a__weeklv newspaper of gener-al circulation- published- and ---- -
circulated in the City of Lynwood, California.
I HER�Y CERTIFY that the foregoing Resolution was duly and
regular.ly passed by the Board of Trus.tees of the City ot
at an adjourned regular msetin�'of said Board, held.on the 22nd •
, day of August, 1923, by the following vote, to-wit:
' , AYES: Trustees Dowiiey, Anderson, '.E"7illard,' P��enzel � •
NOFS: P1one • �
��LBSES?T : Iv?errill
L. C. rnderson
ATTESL• �'residen of the Board of Trustees of
the City of Zynwood, California.
K. C. Amann
i y lerk .