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HomeMy Public PortalAboutM 1938-09-29 - CC317 ADJOURNED REGULAR MEETING SEPTEMBER 29TH, 1938. The City Council of the City of Lynwood met in an ad- ~ourned regular session, in the Council Chamber, of the City Hall, 11331 Plaza Street, on above date, at 2 P. M. Mayor Nation in the chair. Councilmen Meyer, Snyder and Nation answered the roll call. Councilmen Lake and Boster were absent. It was moved by Couneil~nan Meyer and seconded by Courtil- man Snyder that the minutes of the previous ad,jou rned regular meet- ing of the City Council held on September 22nd, 1938 and of the regular meeting held on September 20th, 1938 be approved as written. All members of the Council present voting aye, the Mayor declared the motion duly carried and it was so ordered. The Mayor announced that the hour of 2 P.r~.had arrived, said time being the hour fixed for continuance of the hearing in connection with protests or objections to the proposed reassessment in the natter of refunding the indebtedness of Acquisition and Im- provement District No. 15 of the City of Lynwood. The Mayor inquired of the City Clerk whether or not any written objections or protests had been filed. The Clerk stated that none had been filed. There was no one present in the audience to submit any ob- ,~ections or protests either orally or in writing. Street Superintendent Bateman stated that he had found two errors in the reassessment and therefore that corrections need be made on Reassessment No. 106 by changing the amount of the re- assessment from X369.34 to X76.62; and on Reassessment No. 88 from X0.02 to X9.02. Thereupon RESOLUTION N0.1154, entitled: "RESOLUTION DI- RECTING REVISION, CORRECTION AND MODIFICATION OF THE REASSESSMENT FILED IN THE REFUNDING OF THE INDEBTEDNESS OF ACQUISITION AND IM- PROVEMENT DISTRICT N0. la OF THE CITY OF LYNWOOD, CALIFORNIA," read- ing as follows, was read. "?XHEREAS, pursuant to the provisions of the Assessment Bond Refunding Act of 1933,. as amended, proceedings for the refunding of the indebtedness of Acquisition and Improvement District No. 15 of the City of Lynwood are being conducted by this City Council; and WHEREAS, this is the time and place fixed for the continued hearing on the reassessment filed with the City Clerk, and no ob- ,~ctions or protests have been filed or made; and WHEREAS, this City Council has examined and considered such reassessment and is of the opinion that a change, revision, cor- rection and modification of said reassessment is desirable; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: Section 1. That Reassessment No. 106 shall be revised and corrected by changing the amount of the reassessment from X369.34 to ~?6.62, and the reassessment roll shall be corrected ac- cordingly. That Reassessment No. 88 shall be revised and correctedby 'changing the amount of the reassessment from X0.02 to X9.02, and the reassessment roll shall be oorrected accordingly. The Superintendent of Streets is hereby directed and ordered to revise and oorrect said reassessment roll as provided in this section." It was moved by Councilman Snyder and seconded by Councilman Meyer that said Resolution No. 1154 be adopted. Roll Call: Ayes: Councilmen Snyder, Meyer and Nation. Noes: None. Absent: Councilmen Boster and Lake. An offer was received from Harriett T. O'Dea and Citizens National Trust and Savings Bank as Administrators of the Estate of Michael F. O'Dea, deceased, offering to sell X8,000.00 par value of bonds with appurtenant cou one thereof, at 60~ of the par value prin- cipal of said bonds, e.g. 600.00 for each X1,000.00 bond, with all unpaid coupons appurtenant thereto, in refunding said A. & I. District No. 15. An offer was received from J. 0. Davis, offering to sell X27,000.00 par value of bonds with a ppurtenant coupons thereof, at 60~ par value principal of said bonds, e.g. 600.00 for e~.ch X1,000.00 bond, with all unpaid coupons appurtenant thereto, in refunding said A. & I. District No. 15. ~~~ An offer was received from Andrew T. Payne, offering to sell X1,000.00 par value bond with appurtenant coupons thereof, at 600 par value principal of said bonds, e.g.600.00 for each X1,000.00 bond, with all unpaid coupons appurtenant thereto, in refunding said A. & I. District No. 15. An offer was received from Effie Brandon, offering to sell X2000.00 par value of bonds with appurtenant coupons thereof, at 606Jo par value principal of said bonds, e.g. X600.00 for each X1,000.00 bond, with all unpaid coupons appurtenant thereto, in refunding said A. & I. District No. 15 Offers were received from The Brown Crummer Company, offer- ing to sell X42,500.00 par value of bonds with appurtenant coupons thereof, at 60~ par value principal of said b~nds, e.g. X600.00 for each X1,000.00 bond, with all unpaid coupons appurtenant thereto, in refunding said A. & I. District No. 15. An offer was received from Ed. Cory Smith, offering to sell X1,000.00 par value bond with appurtenant coupons thereof, at 6CW~o par value principal of said bonds, e.g. X600.00 for each X1,000.00 bond, with all unpaid coupons appurtenant thereto, in refunding said A. & I. District No. 15. City Treasurer Reed testified that the offers submitted to- gether with the bonds that the County have in their possession and the bonds that the City own are all of the bonds outstanding in said District with the exception of one500.00 bond for which provisions have been made for payment of as required by the R~'ulding Act. Thereupon RESOLUTION NO. 1155, entitled: "RESOLUTION AC- CEPTING OFFERS FOR SALE OF BONDS OF ACQUISITION AND IMPROVEMENT DIS- TRICT N0. 15 OF THE CITY OF LYNWOOD," was read. Thereupon it was moved by Councilman Meyer and seconded by Councilman Snyder that said Resolution No. 1155 be adopted. Roll Call: Ayes: Councilmen Snyder, Meyer and Nation. Noes: None. Absent: Councilmen Boster and Lake. Thereupon RESOLUTION N0. 1156, entitled: "F.ESOLUTION PRO- VIDING FOR PURCHASE OF THE REASSESS~,~NTS AND REFUTDING BONDS OF AC- QUISITION AND IMPROVEIti2ENT DISTRICT N0. 15 OF THE CITY OF LYNWOOD, CALIFORNIA," was read. It was moved by Councilman Meyer and seconded by Councilman Snyder that said Resolution No. 1156 be adopted. Roll Ca.Il: Ayes: Councilmen Snyder, Meyer and Nation. Noes: None. Absent: Councilmen Boster and Lake. Thereupon RESOLUTION N0. 1157, entitled: "RESOLUTION CREATING FUNDS, PROVIDING FOR THE SALE OF BONDS OWNED BY THE CITY OF LYNWOOD, AND PROVIDING FOR CANCELLATION OF' BONDS OF ACQIISITION AND IMPROVEMENT DISTRICT N0. 15 OF THE CITY OF LYNWOOD", was read. It was moved by Councilman Snyder and seconded by Councilman Meyer that said Resolution No. 1157 be adopted. Roll Call: Ayes: Councilmen Snyder, Meyer and Nation. Noes: None. absent: Councilmen Bolter and Lake. At this time Street Superintendent testified that he had changed the reassessment in connection with refunding the indebted- ness of A. & I. District No. 15jn accordance with the instructions contained in Resolution No. 1154 heretofore adopted by the City Council. Street Superintendent Bateman also testified that he had made the reassessment for said District No. 15, and that the re- assessment had been spread and apportioned upon the parcels of land within the district subject to reassessment according to benefit, and that each parcel was given credit for payments made of ad valorem assessments upon such parcel, as required by law, that the reassess- ment as corrected and revised as filed. with the Clerk is fair, ,just and equitable; also stating that credit had been given on the re- assessment for tax payments made by the ten year payment plan. At this time Attorney Ray H. Landman, representing O'Mel- veny, Tuller & Myers, addressed the Council to the effect that they have examined the proceedings up to this point and that same have been regularly taken and meet with the requirements of law. Thereupon RESOLUTION N0. 1158, entitled: "RESOLUTION SET- TING FORTH FACTS OF HEARING AND FINDINGS AND CONFIRMING REASSESSMENT IN THE REFUNDING OF THE INDEBTEDTdESS OF ACQUISITION AND IMPROVEMENT DISTRICT N0. 15 OF THE CITY OF LYNWOOD," reading as follows, was read: ,"''. , ~' €, ~~_~ ~~WHEREAS, under the provisions of the Assessment Bofld i~e- funding Act of 1933, as amended, this City Council adopted Resolution of Intention No. 1108 on the 26th day of Ma.y, 1938, providing for the refunding of the indebtedness of Acquisition and Improvement District No. 15 of the City of Lynwood under the provisions of said Aet; and WHEREAS, it appears that notice of the hearing on the pro- posed reassessment has been published and posted as required by law and at the time and place set for hearing on the proposed reassessment a hearing was duly had and the said hearing has been regularly con- tinued from time to time by the orders entered upon the minutes of this City Council and this is the time and place to which said hearing has been regularly continued; and WHEREAS, no protests or o bjection to the said reassessment or any of the reassessments upon the respective lots, pieces or par- cels of land reassessed. or to any action or determination in the making of said reassessment or in the proceedings for said reassess- ment and refunding has been Piled or made, and no protests or ob- ,jection to the amounts of any of the reassessments or to the validity or legality of any of the proceedings for said reassessment or re- funding has been filed or made; and WHEREAS, no objection or protest upon any ground whatever has been filed or made and evidence has been taken on the re- assessment and refunding proceedings: NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD, CALIFORNIA, DOES HEREBY RESOLVE, DETEb~MINE AND ORDER AS FOLLOWS; Section 1. That said District lies partially in the City of Lynwood and partially in the City of South Gate, and the Board of Supervisors of the County of Los Angeles levies the special assess- ment tax for the payment of ptincipal and interest of the bonds to be refunded. That the Board of Supervisors of the County of Los Angeles and the City Council of the City of South Gate, by resolutions duly adopted, each consented to the refunding of the indebtedness of said District under the aforementioned Act and to the levy of a reassess- ment therefor under said Act and to this City Council conducting said refunding proceedings, and certified copies of said resolutions were duly filed with the City Clerk of the City of Lynwood prior to the adoption of the resolution of intention in this refunding proceeding. That said resolution of intention, being Resolution No. 1108, was duly adopted and contains. all the matters and things required by law and is in every respect regular and sufficient. That said resolution was published at the time and in the form and manner required by law and that copies of such resolution headed "Notice of refunding and reassessment" were posted at the time and as required by law, and that a copy of the resolution as published was mailed, postage prepaid, at the time and in the manner and to the persons required by law, and affidavits of such publication posting and mailing were duly filed as required by law in the office of the City Clerk of the Gity of Lynwood. That a hearing was held pursuant to said resolution at the time and place stated therein and that at or before the time fixed for said hearing no property owner or person interested filed or m~.de any written objection to the proposed refunding and no oral objection to said proposed refunding was made, and the written consent of the owners of a majority in area of the lands in the District consenting to the proposed refunding and reassessment was filed. before the time of said hearing, and this City Council duly determined that such eon- sent had been filed and was sufficient and duly adopted and entered upon the minutes its resolution determining that the written con- sent of the owners of a majority in area of the land in said. District had been filed, and thereafter by resolution dul3~ adop ed and entered upon its minutes, ordered the refunding and reassessment. That pursuant to the direction of said City Council, the City Engineer prepared a diagram of the property included within the District upon which the reassessment should be levied and said diagram was delivered to the Superintendent of Streets of the City of Lynwood and he thereafter proceeded to make the reassessment in accordance with the aforesaid Act, and when said reassessment was completed it was filed with the Clerk of the Council and this Council directed said Clerk to give notice of the filing of said reassessment and of the time and place when and where all persons interested in the reassessment would be heard by this City Council and that thereafter said Clerk pub lisped a notice of hearing on the proposed reassessment containing all matters and things required by la.w at the time and in the manner ~ovided by law and posted the same upon all Qpen streets within said District at the time and in the manner required by law, and affidavits of such posting and publication were duly filed in the office of said `~~~ City Clerk and have been presented to this City Council and this City Council hereby finds and determines that the notice of hearing was in al.l respects sufficient and that the same has been published and posted as required by law, and this City Council further finds and determines that the hearing on the proposed reassessment has been had at the time and place set forth in the notice and in the manner required by law and that said hearing has been duly and regularly adjourned and continued from time to time and has been held and concluded in the manner required by law, and prior to the conclusion of said hearing this Council, by resolution, directed the correction and revision of certain reassessments and the corrections and re- visions so ordered have been duly made and are as follows: Reassessment No. 88 has been revised and corrected by changing the amount of the Reassessment from X0.02 to X9.02. Reassessment No. 106 has been revised and corrected by changing the amount of the reassessment from x`369.34 to X76.62. That this City Council has heard evidence relating to the refunding and reassessment proceedings and the specific reassessments and finds that the reassessment, as corrected and revised, is ,just and in accordance with the facts and apportioned according to benefits, and that all of the actions, determinations, resolutions and orders, and all of the proceedings heretofore taken in said. reassessment and re- funding proceedings are regular, valid and sufficient, and that the diagram attached to said reassessment is regular, valid and sufficient. Section 2. That said reassessment, as corrected and re- vised, is hereby confirmed. Section 3. That the holders of all outstanding bonds and interest coupons of said District (except bond No. 109) not owned by the City of Lynwood or the County of Loa Angeles have contracted to exchange such bonds and interest coupons for cash in the refunding proceedings and a retirement fund sufficient to provide for the re- tirement or payment of said bond No. 109 and all interest c3oupona ap- purtenant thereto has been created and moneys sufficient for that pur- pose placed in said retirement fund, and it is hereby directed that said reassessment, as confirmed, be recorded with the Superintendent of Streets of the City of Lynwood. Section 4. That this resolution be entered in full upon the minutes of this City Council." It was moved by Councilman Snyder and seconded by Council- man Meyer that said ResolutionNo. 1158 be ado~~ted. Roll Call: Ayes: Councilmen Snyder, Meyer and Nation. Noes: None. Absent: Councilmen Boster a.nd Lake. RESOLUTION N0.1159, entitled: "RESOLUTION DIRECTING NOTICE TO BE GIVEN OF RECORDATION OF REASSESSDt1ENT AND REQUESTING CANCELLA- TION OF UNPAID SPECIAL ASSESSPJiEPdT TAXES, ~' was read. It was moved by Councilman Snyder and seconded by Councilman i~~teyer that said Resolution No. 1159 be adopted. Roll Call: Ayes: Councilmen Snyder, ~7eyer and Nation. Noes: None. Absent: Councilmen Boster and Lake. It was moved by Councilman Meyer and seconded by Councilman St~d.er that the meeting adjourn to October 4th, 1938, at 7:30 P.P~i. All members of the Council present voting aye, the Mayor declared the motion duly carried and it was so ordered. ~. MAYOR 0~ THE C TY OF LYNt~'OOD. ATTES'T' ; CITY CLERK, CITY OF LYN OOD