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Home My Public Portal AboutA1982-11-02 CC (2) r � _ ; • � ` � � �i ` � DATE:, November 2, 1982 ( T0: HONORABLE MAYOR AND CITY COUNCIL �` FROM: Sandra M. Read, munity Development Director I SUB�ECT: AMENDMENT TO THE COMMERCIAL AND RESIDENTIAL REHABILITATION � LOAIJ AGREEMENT BETWEEN BANK OF AMERICA AND CITY OF LYN1900D i (AMENDMENT N0. 2). � �� PURPOS[: \ � i The purpose of this item is to request adoption of the attached reso- � lution to authorize and execute the amended agreement with Bank of i America in order to revise the percentayes required to collateralize � loans, revise the interest rate for commercial loans, and extend the I term of the agreement. � I BACKGROUND: � On Uecember 1, 1981, the City Council adopted Resolution No. 81-157 �� authorizing the execution of an agreement with Dank of America, by �, which a deposit of Community Development Block Grant (CDBG) funds ` is used as a subsidy to allow the bank to make commercial and resi- I dential property rehabilitation loans to qualifying applicants at below-market interest rates. I On May 6, 1982, the federal Department of Housing and Urban Develop- ment conditionally approved the City's agreement with E3ank of America, subject to the inclusion of a clarifying clause in the agreement. On �une 1, 1982, City Council passed Resolution No. 82-90 authorizing the execution of an amendment to the agreement with Bank of America incorporating the above mentioned clause. On �uly 20, 1982, HUD released the CDBG funds for Year VII. These funds were deposited in Bank of America on August 12, 1982, and the first request for Rehabilitation Loan approval was submitted shortly thereafter. As of this date, one commerical loan(s) and four residential loan(s) are in process. Approval of these loans is.expected.by October 29, 1982. As the Loan Officers in the local branch of E3ank of America become more familiarized with the Program, the Rehabilitation Loan approval process is expected to take no more than ten workiny days. I APlALYSIS: �� The existing agreement with Bank of America contains an error which � was not detected at the time of execution of the agreement. Said I error, incorrect percentage figures for required deposits to the Collaterealized Loan Account (paragraph no. 11.(c) an'd (e), paye � 6), must be corrected in order to reconcile the percentages with I the rates of credit risk assumed by 6ank of America (paragraph no. � 9, (b) (ii) and (iv), page 5). Bank of America has informed the � City that they are willing to reduce the interest rate for commercial � rehabilitation loans from 11.5% to 10.75% as result of the present ! trend of lowering'interest rates. Additionally, the term of the I' agreement must be extended since it expires on November 15, 1982. 1 � The attached amended agreement is unchanged from the amended ayree- � ment of �une 1, 1982, except as noted below: � 1. Change of percentage figures in paragraph no. 11(c) j and (e), page 6, from 30% and 54% to 70% and 46%, ` respectively; and ?, 2. Change the interest rate for commercial rehabilitation , loans in paragraph no. 9. - 2.(i), page 5, and paragraph no. 11.(f), page 6, from 11.50% to 10.75%; 1 j i � I -- -- � ___ �— ___ _ .__- _ .. . _ __ . , _..___ ..._.. �_.._ _... _ � . . . . . . _ _..� .:.___. . � .. ._. � _ .. I , _ ; " i � , s 3. Extend the term of the agreement for one year by � replacing the dates of November 15, 1982, and November 15, 1981, in paragraph 23(a), page 12, �� with the dates of November 15, 1983, and November 15, 1982, respectively. The extension of term is in compliance with the provisions of the agree- � ment (paragraph no. 23(a), page 12). % i RECOhiMENDATION: I I That the City Council adopt the attached supplementing resolution i to authorize and execute the amended agreement with Bank of �;merica. i i I i � I � �� , �` I � I ,; i ` � , ; ; � , � , � 1 � ____ � ` , � i ! �, I ---- - _ _ _ _ _ - -- i . � � ', ' RESOLUTION NO. i i i A RESOLUTION OF THE CITY COUNCIL OF THE CITY � OF LYNWOOD SUPPLEMENTING RESOLUTION NO. 81-157, � APPROVING AND AUTHORIZING EXECUTION OF A COM- ! b1ERCIAL AND RESIDENTIAL PROPERTY REHABILITATION ! LOAN AGREEMENT COMPREHENSIVE FORM HETWEEN THE � CITY OF LYNWOOD AND BANK OF AMERICA NATIONAL I ` TRUST AND SAVINGS ASSOCIATION. �I , WHEREAS, on December 1, 1982, the City Council of the � City of Lynwood adopted Resolution No. 81-157 approving and � authorizing the execution of an agreement with Bank of America � National Trust and Savings Association for the purpose of making i commercial and residential property rehabilitation loans at i below market-interest rates; and WHEREAS, on May 6, 1982, the federal Department of Housing and Urban Development conditionally approved the City's agreement with Bank of America subject to the inclusion of a I clarifying clause in the agreement; and WEIEREAS, on June 1, 1982, the City Council of the City of Lynwood authorized the Mayor to execute a revised agreement with Bank of America which included the necessary clarifying clause; and WHEREAS, the original agreement is in error concerning the percentages of required collateralization amounts in paragraph 11(c) and (e) which read 30o and 54%, respectively; and lJI3EREAS, Bank of America is willing to reduce the in- terest rate for commercial rehabilitation loans; and WHEREAS, the City and Bank of America of mutual accord desire to extend the term of this agreement for one year; NOW, THEREFORE, the City Council of the City of Lynwood does hereby resolve as follows: Section 1 . That the Mayor is authorized to execute a I revise� agreement with Bank of America which includes the follow- f ing amendments: ; a. Change percentage figures in paragraph 11(c) and (e), page 6, from 30% and 54% to 70% and 460, respectively; 1 b. Change the interest rate for commercial rehabilita- �I tion loans in paragraph 9. - 2.(i), page 5, and � paragraph ll.(i), page 6, from 11.50% to 10.75%; �� c. Chanae the dates of November 15, 1982, and November f 15, 1981, in paragraph 23(a), page 12, to November � 15, 1983, and November 15, 1982, respectively. � Section 2 . This resolution shall take effect immediately � upon its adoption. 1 ; . PASSED, APPROVED AND ADOPTED this day of ( , 1982. I I� LOUIS L. THOMPSON, MAYOR , City of Lynwood ATT�ST: APPROVED AS TO CONTENT: i ANDREA L. HOOPER, City Clerk SANDRA M_ READ, Director �'� APPROVED AS TO FORM: Community Development Dept. I ` DAVID MC EWEN, City Attorney - --�- , . ; ; �. _ . .,., . . � ;� _ ': . � . , 1 COMA�CIAL AAD EESIDEATIAi, 2 PROPIIiTY REHABII.ITATIOA LOAN AGEEEt�tT 3 CO2�'REHENSIVE FORM: 4 THIS AGP.E�`,ENT is made by the CITY �F LYAi�'OOD, e aunicipal 5 corporation in the State of Californis (herein called "Authority"), and BAAK 6 OF AMERICA P?TIOFA?,`FRUST ARD SAVIAGS ASSOCIATION, a national banking 'j aseociation (herein called « Bank")• 8 H E C I T A L'S 9 A. 9uthority has authorized a Housing Preeervation Program and a 1Q Commercial Property Rehabilitation Program ae part of an adopted Community jl Development Block Grant Progras (as may be amended and modified from ti.me to ],2 time) hereinafter collectively called "Program". 13 B. As part o£ Authority's implementation o£ Program, Authority has j¢ requested Bar1c to make belox-market intereet rate property rehabilitation 15 loane ("loans" or "Program Loana") to certain oxners/tenants of eingle and '� 16 multi-unit residenti.al and commerciel real property xithin Authority and 17 approved by Authority ae recipients o£ Loans ("Applicanta`). The purpoee o£ 18 the Loana xould be the rehabilitation of seid real property in accordance xith 19 Program. In addition, Authority has requested a choice of several types of � Loans to Applicants. � C. To suppori these objectives, and based on an initiel depoeit of � Community Development Block Grant flinde, Bank is villing to provide 6uthority � and Applicanta.xith Collateralized Loans (Part Three), Deferred Payment Loans �} (Part Four), and other aervicea at ratee and terms aot available to the � general publio or to Authority independent of thie Agreement. � ROW, TiiEREFOhE, for and in consideration of the foregoing and the �j mutusl agreements made herein, and for other good and valuable consideration, 2S Authority and Bank ag:ee as folloxe: . ., , �. .; ;. ; � �. �.,._.._..�.�.—._�. _Y.,. : " � �a.. Y.� - ' ..,....:.. _ ._ ..: � � .... .�. .. _.. ._. . -.'�- ' .,... , � ':>. . ..'::,o .. � �.uw—._.»;�-^— . .: . - ,. r '� Y . '.. .. . • � .. . � . . - . . . ._'� ' . : . .. . . , � � . .. .. . .. . . . . . . . . � •. . . _• . � � • 1 PAr.T ogE �L DEPOSIT OF CON�fUAITY DEVEIAPK.ENT 3 sLOCx cxAx�r �uxns , � � 4 1. Authority ahall depoeit up to $400,000 0£ Comc«unity Development � Block Grant rehabilitation flinda available to Autnority under the Houaing and s Community Development Acte of 1974 gnd 1977, ae amended, ae part o£ this , 7 Agreement. 8 2. Authority's depoeite of Community Development Block Grant funds 9 may be made in a�v af the folloving forme: 1� (e) A deposit to the k`arehouse Account, the flinds in vhicb are IZ unellocated to I,oans. , u` (b) A depoeit to Collateralized Loan Account(s) xhich are 1� noninterest-bearing savinga accounte xhich eubsidize Loans and are pledged ae l�s Loan coilaterel. � Y5 (c) The purchase from Bank o£ time certificate(s) of depoait 16 from xhich all proceede are allocated to future Program I.oans. Z� Bank xill pay, at Authority's election, the highest interest rate permitted by 18 lax and thie Agreement on ell accounte described above. If legal interest � rate limitationa are removed, Bank xill pay ita highest rate offered to the 20 public. `LZ 3. Authority relinquishes the use of and control over accounte `� described in paragraph 2(b). Theee accounta vill be ueed only for the Loan `� parposee described in thie Agreement. `� 4. Authority retaine £ull acceaeibiiity to ell depoaits vhich are `�.i unallocated to eziating Program I,oans. 26 5• Authority agrees all interest earnings and all remittance from �7 the Collateralized Loan Account described in Paragraphe 14 and 22 rill be paid `� to the Marehouse Account and rill be used in accordance vith Commun3ty -2- � , . . . r _. �__,� ._.—.- . ; , , .;.. :._ ,,. _ _�_.. . , .. - - . .�� , ,. . :.. � . . , ,,..... .., � . � � �� .-__ _ ._ , . _ . _,.. . .. _ � ; ; ..,, . ; . t . ` ..� - � - - .. :... �., . ' : _ .., _ _ _ . . . . 1 Development Block Grant Regulationa contained in 24 CFH 570.513 (C). Q PART TWO 3 APPLICATIOR PROCIDURES . 4 6. (a) 6t the requeat o£ Authority, Bank, through its I,ynvood 6 �ffice, ahall consider making loans to quslified 9pplicants directed to Bank s by Authority. Benk shall notifs the reepective Applicant(s) in rriting of any Q such request it receives from Authority. The notification shall contein the $ folloxing statement: "The City of Lynxood has requestad the Lvnrood Office of 9 Bank of America Aational Trust and Savinga Aseociation on 3505 E. Imperiel 10 Highxay, Lynwood, CA 90262, to consider making a specific eztension of credit 11 to you." , �' (b) A qnalified Applicant ehall be identified by Authority or ite 1$ agents, ueing Authority's establiehed etandards, vhich must consider, xithout. 14 limitation: 15 (i) Applicant is "the owner o£ record" of the property subject 16 to rehabilitation. 17 (ii) Applicant has veri£iable income(e) xhich can be ueed to � j$ repay the propoeed I,oan. 19 (iii) Authority has determined that the proposed I,oan, given $Q Program options available, Will best aerve the rehabilitation neede of 21 Applicant ead the Program objectives. � (c) In addition, each commerciel improvement/rehabilitation I.oan `� Applicant, if a leasee, hae a lease xhich, rith optiona, eztends at leaet eiz j�} (6) mcnths beyond the baturity o.° the propoeed Loan. � ' 7. Authority shall furnish to Bank, rith respect to each loan 26 application: - $7 (aj .an intxroductory letter stating that Authority desirea Bank 2$ to consider �akiag a Loan to Applicant; -3- ---_ __.._ �__..._. ___._,_.-- �------ --�----- -_ -- --.. , _� _-- _ � ,.;__._ �. .,-- . ,. . -. . _. : _ -- - , � _. � , . ` : - , . , , .. , � .,: _ _ , ; ;, ,. _ . _ ., ,: ,�, .� - � .._.. . ._ .. , . �� ;_ _ _... .... • . ; , ` . .. , , � . . �. � , . + 1 (b) e breakdovn of the coats involved in the rehabilitation 2 vork to be performed on Applicant's real property; 3 (c) e.descriptioa of the rork; , 4 (d) an eetimate of the value of the real property offered ae � eecurity for the Loan; s (e) a copy a£ ax�v contractor bid propoeed to or accepted by 7 �pplicant; 8 (f) e statement including the name of the contractor who vill 9 per°orm the rehabilitation vork, sad that Authority hae satiefied iteelf xith 1� respect to the competence and reliability of the particular contractor; 11 (g) on multi-unit residentiel property, the Bank reserve,s the 12 rigk:t to require an income property appraieal. The Bank may also require a . 13 contractor funding control service or construction progresa inspections by the 14 Bank's dppraisal Department. Appraisal/inapection and preliminary title coats 1b shall be paid by the Applicant; and � 16 (h) for each commerciel improvement/rehabilitation Loan, Bank 1� ehall require from Applicant: l.$ (1) 2-year bueineas income statements supported by IRS 19 income tag filings; 2� (2) a copy o£ the eziating lease, i£ Applicant ia a 21 property tenant; `� {3) dpplicant'e peraonal financiel etatement; `�` �4) A policy of Creditor I,ife Inaurance, in a form `� acceptable to Bank. 1`he policy must be maintained vhile the Loan remains `Lb outatanding, in an amount at least eaual to the amount outstanding under the �� Loan to Applioant, vith Bank named as beneficiary. Upon Authority's request, `� eaid insurance ahall be prepaid from Loan proceeds and eaid amount added to `� tk.e principal amount of the 7.oan. At Bank's re�ueat, eacb dppl3cant ehall -4- __.-..-�,__ --- ---_ _--�,_ _ _.__._� �_____, ,.. �.�_-__.�__.. _�, .,____�.,.— _. E .. . _. . _ .. � .�_ _ . . ,.. :. ._ . � .. � � _ _... ".. � . • ' ''� , „ , . . .. . . _ � �_ ._ .. _ . , . _ . . _. . , � � I ._, __.. _i_._: _.---- -._..._._.. _ _.___`_.._.___� _�._._ _..,,..�.___.____ � Z eleo be required to maintain a etandard policy oi hasard ineurance covering Q tbe real propert� upon vhicb the rehabilitation rork ie to be perfox�ed in $ eifect rhile a�y part o£ the Loan remaine outetand�ng, rith tLe Bank named ee 4 beneficiary. In the caee of defaulted Loana, Authority agrees'to guarantee b unpaid premiuma in accordance ritb the provisione or para8rapn i5 te_oY. Banx s may raive thie requirement on residentiel income propertiea. 7 8. Bank ehall per£orm its customary credit evaluation rit� reapect $ to the Applicant, render 3ts judgment ritb respect to the creditvorthineea of 9 the Applicant, and recommend appropriate Loan terms. I 1Q 9. Upon conpletion of ite credit eveluation, Bank ehall furnisIl to jl Authority a recommendation vhether to proceed xith the Loan or not, including: jQ (e) e recommendation as to uee of either e Collateralized, or j3 Deferred Yayment Loan, or eome combination thereo:; and 14 (b) an indication of vhich o£ tLe folloving I.oane (for rhicb 16 Bank aesumee ell or part oP the credit riek, ae indicated paren?hetically 16 belox) Bank is rilling to make to Applicant: 17 1. For reeidentisl property improvement Loane: � j$ (i) e 4•25� Collateralized Loan (10� credit riek); 19 (ii) a 7•00% Collateralised Loan (30� credit riek); � (iii) a 9.75p Collateralized Loan (5� credit riek); Z'j (iv) a 10.00p Collateralised Loan (54� credit riek). � 2. For commercial property improvement I,oans: �j (i) e 10.75� Collateraliced Loan (5� credit riek). 'j�¢ 10. After having determined the ezact nature and ecope of t2�e 'j,� re�abilitation rork to De performed on Applicant'e real property, Authority � msy requeat Bank to grant Applicant a Loan, rhicb eitLer muet be from.emeng '$7 thoae designated by Bank pureuant to paragrapb 9(bi nbove or muat be e Loan $$ pursuant to paragrapY� 11(e) (100$ collateralised) or paragraph 19 (De£erred -5- ! ..:,�......_........_-----------•------.__---.__,._..__�_..___...�_____—..._..----- _------.._ - -: _ - - t�., _ � _ . _ . :. - . _ - y .. �.,- , .:, :_� _.,- _ �.�a: .,.�. i `;. -�.:-. . �.��.:: �. . . =.. • � � _...._.. ; r `�„ .. ,. . . _. . . , . : . .:. . , .. ;., , ; : .: . .. .. , . _: . ;: . . ' ,_:: �, . ': ,� . .. _ 1 Peyment Loan). 2 PAP.T THREE $ COLLATERRLIZ� LOAAS 4 11. EacL Collateralieed Loan ehell be supported by a S noninterestbearing depoeit made by Authority to a Collateralised Loan Account, 6 en account that ehsll at all timee be a leaet equel to: 7 (s) 100� of unpaid principai for eacL 3.00� Loan for rhicb Ban� $ hae not designated tbe Applicant (pureuant to paragraph 9(b)) ae e pnrty to 9 xhor Bank is xilling to make a(partislly) Collateralized Loan; 1� (b) 90,� of unpaid principal for eacb 4•25� Res=dential 11 Rehabilitation Loan; �` (c) 7� o£ unpaid principal for each �.00$ Reeidentiel 1$ Rehabiliiation Loan; 14 (d) 5� of unpaid principel for each �.75� Residentisl ZS , Rehabilitation Loan; 16 (e) 46� of unpaid principal for eacb 10.00$ Residentiel 2'j Rehabilitation loan; 1$ (f) 50$ of unpaid principal £or eacL 10.75� Commercial 1Q Rehabilitation I.oan; � plus, in each caae, 10� of accrued unpaid interest. Authority hereby aseigne Z1 the Collateralized Loea Account to secure the Collateralized Loane. `j�` 12. (e) Unlese Authority requeate one note only, each `j,� Collateralised Loan ehall be evidenced bg txo notee, ef£ective in succeesion, 24 ae provided herein. � (b) The note firat e£fective ehall De a ehort-term commerciel Q� note, the term of rhich ahall coinci3e approzimstely rith the rehebilitation � period (elthough sll reSerences herein to tLe ehort-term commerciel note nre $$ eingular, a Loan could include more than one ehort-term co�erciel note)• '1'be _(_ i . ' ,- ; I . . a. .: n � :.' Y . . .i '.�:� - _ " ;� � : .,.; ., ,;:: � _::, ;.;_: _ .: , . . ,_ _ , , , . . ,_ _, ; , . a _. . ` �- �. ,:. . - . ;� �= :.' � �� :: _ � . . .. � 1 term of a�Y one ehort-term commercial note mey not ezcee3 ninety (90) daye, 2 eltbough the note may be eztended, reneved, or re£inanced. The Loan prbceede 3 thereof ehall be diabureed by Bank in a number oY drars, each to follox 4 completion of an applicable atate of construction, ae certi£ied to Bank by �i Authority. Interest shall accrue only on the diaburse3 portion of the I,oan. 6 (c) Promptly after Bank's disbureement of the fiaal drax under '1 the short-term commercisl note, that note ahall be refinanced by an $ installment note, as provided for at subparagraph (d) belor or, alternative�y, 9 ae provided in Part Four (Deferred Payment Loans). 9t the time the ehort-term _ 1� commerciel note is refinanced by the inetallment note, Applicant may either 11 pay Bank the accrued interest on the ahort-term commercial note or may have it u` added to the principal of the installment note. 1� (d) The term of the installment note may be determined by Bank 1� £or the I,oan in question, but; 15 (i) may not ezceed fi£teen (15) Yeara for residentiel 16 rehabilitation; or I � j7 (ii) may not eaceed 10 yeara for commercisl rehabilitation 1$ unless the proposed I,oan ia over $75,000 and is to the property oxner. � The installment note ahall be amortized in equel monthly installments over its 20 term. 'L1 13. With reapect to Collateralized Loana: 'j�, (a) On both the ehort-term commercial note and the installment 23 note, intereat and other :inance charges ehall be such as to bear the interest $¢ rates described in Paragraph 11, vhich are be calculated on a simple intereat ?a bssie. Q� (b) The Loan shall be documeated uaing Baak'e etandard £orms. $'T (c) Both the short-term co�ercisl note and the installment $8 note shall, at Bank�e or Authority'e op:ion, be eecured by e deed of trust -7- ___... . .. , _ - - . . - .. �� ,.; � _ - ' :;. ' J � . ' � • `' � � . � � • � . ' . . . . - � . . -. ' . . �: �. . ..'. � . ��l.._...::.._....�:.r:l�d..�..��.n:a'� � _ .� . _. . -... � µ 1 covering the real property that ie the aubject of the rehabilitation for Yhich 2 the proceeds of the Loan are to De used. $ 14• Authority ehall make a relevant deposit to the Collateralized 4 Loan Account in the percentage of Loan amount provided for in pa:agrap� 11, 5 vhen the commercial note and deed o£ trust are signed by Applicant and vhen s interest on a short-term commerciel note becomes added to the principal of a' 7 eubaequent inetallment note. At the end o£ each calender month ending 180 $ days after Authority's firat deposit hereunder, Bank shall remit to Authority 9 the amount by whicb the Collateralized I,oan 9ccount eaceede the paragraph 11 1� percentagea of the unpaid balancea o£ Collateralized I,oans. Funda that Bank ZZ thue remits to Authority shall be deemed funds that Authority deposite� at �` leaet 180 days befere. 13 15. If e Collateralized Loan remains in default for a continuous 14 period of ninety (90) days on account o: nonpayment o£ an,v sum of money due 15 pursuani to the terms thereof or of ax�y instrument or document related 16 thereto, Bank may xithdraw from the Collateralized Loan Account, and pay to jZ itaelf, an amount equel to the then outstanding principal balance of the Loan 1$ multiplied by the same percentage as the percentage of the loan amount that j9 vas depoaited to the Collateralized Loan 9ccount purauant to paragraph 11, `L� plus 100� o£ accrued unpaid interest on the Loan and inaurance premiums, if 21 aRy through the 90th day of default. Bank ahall have no recourse againat `� Authority or the Collateralized Loan Account for a�p amounte in ezcesa of 23 those permitted under thie paragraph. During a�y ainety (90) day default `� period, Bank ahall perform ita customary callection procedures vith reepect to `j,o the Loan. `ZS lo. (e) Beak sgrees 6uthority's liability for delinquent interest 27 and insurance premiums rtill be li.mited to the collective Community Develop�ent $$ Block G:ant fuade held by Bank as part of the Program. Author±ty retains the _g_ � , ' �� ^ . ;. <. ; . �t+ .- ..�_ Y . ' .:'. .. .,:i .. . --1 �. �..: ' _ — . _. >. -. . �.. y : •. '... . . ._... a..`.r.'�. , � �. ...... . .F . , . , . ... . .. ..._ ...__ . ... , _ ,., . - _�: _, . , _.: �� : � : ,�.i _ __ __. _ _ - . . .. _ _ � .... ..:... .. : :. . _. . __t.�.�.Y_��_ �_.... .�___�_ ,. _: ,. �_.-�._ -_�_.�.�:____ _. ___�..�.�_ _.� .�_.__.�.�---- - ._ _.. 1 right to aubetitute other flinde for delinquent intereat and inaurance premiums. E. (b) After a rithdraral Yrom the Collateralised I'oan Account s under pa^agraph 15 8bove, in the case of e Loan for �rhich the deposit to the ,4 Collateralized Loan Account under paragraph 11 rae leas than 100$ of the Loan 5 emount: 6 (1) Bank need not assign the deed of truat to Authority upon 7 conpletion of the xithdraxal but may, £or its oxn account, ezerciae righta S under the deed of trust to recover the remaining outstanding and'unpaid 9 principal of the Loan plus accrued unpaid interest thereon aYter the 90th day 10 of default.. Bank agreea to recoup funde, ae much as posaible, for the benefit 11 0£ the Authority as xell ea itsel£, ea per paragraph 16(c) be1ox. �e (2) At ita election, Bank mqp aesign to Authority euch rights 13 as ma9 be necessazy for Authoritv to attempt to recoup a�y flinds vithdrarru lg from the Collaterelized I,oan Account in connection xith &�y Loan default. lr� Authority agreee to recoup funds, ae much ae poesible, for the.benefit of Bank 16 as xell as iteelf. �nds recovered shall be credited as folloxe: 17 (i) to withdraxals from the Collateralized Loan Account; f � (ii) to the coste of.recovery; � (iii) to Bank'e Loan charge-off. e� (3) I£ Bank recovers funde vith respect to a defaulted.Loan e� (ae, for ezample, but xithout limitation, if a voluntary sale o£ the property .� takee place),' Bank shall, after deducting the previously unreimbursed , r� percentage of I,oan loas.to vhicL Bank ia entitled, plue Bank'e cost of � recovery, return and pay over to Authority all amounts it m�y rightlp claim. � ` 17. After s vithdraval from the Collateralized Loan Account under 26 paragraph 15 above, in the case of e Loan for rhich the depoeit to the � Collateralised I,oan Account under paragraph 11 vas 1005 of the Loan amount, �' Bank ehall aeeign the Loan to Authori:y, the assignmeat tc be accompliahed by: -9- � _.__.� ..-__ _ _n �,_-- -•� _„ ---_.__ - _ _ ---- . -. -._ �.. . ,. : ,. ; ; -. . -. .. y :: °' �- , ,� . . ..•, .., , � „.. .�,° _ _ _ � , �: '. -- � � : , , .. . .; ,.; , _ . : , , '� ' • . � - �• . � I �._ _t . , . ' __ . . { .�_�. _. � _..__ �._,..�.�.__.�_....,.._,.�...,,._..�.d_.��.,�._...._.,__� �_.._.__�. �_..__ .._�._....______� I 1 I 1 (e) the due endoreement by Bank to AuthoritS of the promieeory "2 note evidencing the I,oan, rithout recouree or asrranty; and 3. (b) the delivery of the promiesory npte and the ssaignment and ¢ delivery o£ the deed o£ truat. � 18. Collaterallzed Loene, sa described in paragraphe 11 through 17, s nuat have an average original Loan amount of $10,000. Authority'e 7 Collateralized I,oans vill be analyzed every 180 daye from contract approval. $ If average �10,000 Loan amounts are not maintained, Bank may: J (a) increase borroxer interest ratee for new I,oans; 1O (b) increase collateral requirementa Por nex I,oans; or jl (c) easess an origination fee for nev I,oans. � � PART FOUH 13 DEFERRED PAYME2IT I,Ol�RS 14 19 In the event Autnority requeatc Bank to make a Loan, the �exma of 15 xhich are other than sa provided in Parts Three and Four above, Bank ahall 16 comply xith Authority's request. In that csae, after Bank hae obtained j7 Applicant's note on terme duthority hae requeeted for the Loan, Bank ehall, j$ promptly after completion of the reepective rehabilitation xork, assign the 1Q Loan to Authorit� according to the eame procedures, end for the same price, ea 2Q xould be applica�nle under paragrapha 15 and 17 (Part Three) in the case of the 21 assignment folloving default of a Collateralized Loan for xhich the depoeit to j,�' the Collateralized Loan Account under paragraph 11 rae 100;G. Promptly after �j the assignment, unl.esa previouely paid by Authority, Applicant ehall pay to `j� Bank a fee to cover ita internal adminieirative and out-of-pocket ezpeneea, ae $p' epecified by Bank, but in no event less than THI3TY-SEVEN AAU 50/100 DOLLARS 26 ��37•50) nor more than SEVEYTY-FIVE DOLLAES ($75•�) for each Loan so made. � Such £ee ehall be at Applicant'e sole ezpenee if not recovered from Authority. 2$� 20. Pricr to the maL-ing of the firet De£erred Payment I.oan, -10- � � , : �:: -- �� c :_ . . .- , .. ;. . - � :. . , � . ... � � � � .. . w;:.,. � ..;�,._. . _ . .. . . . . .. . .. . . _ . ., . . . ,.. . . .. . 1 Authority shall tlirnieh Bank an opinion of ite legal counsel: sl . (s) eteting that Authority hae eetablished ratea and terma for 3� ite Deferred Payment Loan Program note; 4 (bj deeignating vhether a�y De£erred Payment I.oan fee is a � "charge to be financed" or a"prepaid finance charge" under Regulation Z; and 6 (c) that Authority hae delivered this in£ormation and note to 7 Bank'a Lynwood Branch. 8 PART FIVE ' , 9 GENERAL PROVISIOAS 10 21• On Authority'e request, Bank ehall, for ite cuetomary feee 11 therefor, accept for collection purpoeea,.pureuant.to Bank's then current ' � installment collection procedures, e Program Loan that hae been traneferred to 13 Authority. 14 22• On Authority's request, Bank ahall, for its customary feee. 15 therefor, provide foreclosure servicea with reapect to a de£aulted Program 16 Loan that has been trana£erred to Authority, in rhich case Bank ahall be I7 substituted for Continental Ausiliary Company/Authority as trustee under the � applicable deed of truat � 19 23• (s) T3�e term of this Agreement ehall mature on Aovember 15, � 1983 Thie Agreement may be terminated oz amended by either of the partiea 21 hereto at sia (6) month intervals from November 15, 198Z, provided vritten � notice of intent ia given to the other party at leeat £i:teen (15) days prior � to the termination date. s� (b) An,y termination of thie Agreement shall not affect Program �r I,oana outatanding at the time of termination. sls (o) dt termination, Bank ehall retain the Collateralized Loan � Account and ahall remit monthly to duthority the emount by vhich the � Collateralized Loan 6ccount ezceeda the paragraph 11 percen�agea o£ the unpaid -11_ . . I - . .. - - � ..: , ., - ,.. ,. .: . ..,� ,_ `.:. � �... ...... _. _ _.� �.._,.:� �... ,-. .. _ ;._,. ...:< i � . � - ' "'� ' ' • � � - . � • �. - . .. . . ,- .�-, . ..:,.;'- � . __. . :�,..., — ,..,, �. , .. -.� . . . . :. , . .. r._.._ �. .... � . .. . . _ .. � _ s: - . .. . ,_ �.._��_, '.�_ .. . , .. -.—_.�,�, ��.....'�._....._..:_._:_--_�=.__�_�.. - — 1 balances of Collateralized Loane. 2 24. Bank covenante and agreea that nothing in thie Agreement or ax�y � agreement made pursuant hereto ahall be deemed or qonatrued by Bank to make � Authority a surety or guarantor oi' a�v Loan, and that Bank's rights xith � respect to a Collateraliaed I,oan ahall be limited to those aet forth at s paragrapha 15 .through 1'7 hereof. 7 25. Authority and Bank ahall comply rith all applicable etatutee and 8 regulatione, including xithout limitation, vhere applicable, the Federal Truth 9 in Lending Act an3 Regulation Z thereto, the Consumer Credit Eeporting Act, 10 and the Equsl Credit Opportunity Act and Regulation B thereto. 11 Autnority covenants and agrees that the terms and conditione of ]2 this Agreement are subject to the provisiona governing lump-sum drawdoxna £or 13 Property rehabilitation §570.513 of the HLTD regulations on community 1� development granta, 24 �� Part 570. lb 26. Ezcept ae apecifically required by this Agreement, Authority 16 xaivea any right it may have to require Bank to: 17 (a) proceed againat any Applicant.or other pereon; 18 (b) proceed ageinst or ezhauat e�y collateral for the relevant I,oan; 19 or � (c) pursue a�y other remedy in Bank'e pover; 21- and xaivee ax�p defense arieing by reason of e�y disability or other defenee.of � Applicant or any otner person, or by reseon of the cessation from a�v cauae � xhateoever, other than full payment, of the liability o£ an Applicant or an,v � i other pereon. � � 27• Bank ea3 Authority acknoxledge the "Special Purpose" nature o£ Qs the Program and Program Loans. To eerve this "Specisl Purpose," a Loan shall �J be considered in default a?ter the date of a tranafer of the deed of truet Zg property, xhich, eccording to the provieione oY the deed of trust, make the _� � � . �, - : .:�: � ,: ?:. 'r . � �. ,.. . . . . . - �---•— .. :�.,�:_. ;.,�... .��..-. .. �:, ,. :: , . >;w , _ < � . . � , ; , . : ! . ..�.�____�.__.__ I � 1 entire principal and intereet of the note due and payable, regardless ef 2 gank's ability or inability to enforce those proviaione oY the deed of truet 3 or note. Authority agreee to require Loan acceler8tion according to the 4 prcvisiona of the deed of trust and note based on their rights under Section 6 711.5 oY the Californis State Civil Code. 6 28. Any communicatione betxeen the partiea hereto may be given by 7 mailing the same, postage prepaid, to Bank at its Lynvood Brancb, 3505 East 8 Imperial Highway, I,ynxood, Califorais 90262, and to Authority at its Office of 9 Community Development, City of Lynxood, City Hall, 11330 Bullie Road, Lynwood, �� . California 90262, or to such other addresaes ae either party may in vriting 11 hereafter indicate. . u` 29. Authority ehall indemni£y and hold harmlesa Bank egainet all 13 clai.ms and damagea, elleged or othextirise, of xhatsoever nature arising out o1' 14 or in s�y way connecte3 vith the acta or omieeione of aRy contractor 15, performing rehabilitation vork in connection xith thie Agreement; provided, 1� however, that Authority's obligations under this paragraph 6Y1811 not estend to 1� negligent of wilful scte or omiasions by Bank. 611 contractora shall operate 1$ es independent contractors and nothing herein ie intended to affect such � independent contractor status. `ZD 30. Bank may, at ite option, decline to make additional S,oane from `L1 and after the date uhen the principal balance of all Loane outetanding has `�` ezceeded ORE MILLIOfi DOI,Lt�RS ($1,000,000.00). `� 31. Thie Agreement mey be esecuted in ae many coi:nterparts sa may be `� deeme3 convenient, each of which, xhen executed, ahall be deemed an original. � � 32. The opsre.ting aspecta of thie Agreement, may be altered from `� time to time throug� a letter of understanding, accepted mutuslly by `� Authoritv's Lirector o£ Community Develop�ent and Bank'e City Improvement and `� 'Restoration (CIR) Department, Oakland, Californie. . -13- ..__� _.. _._.._- � .__..._ ,__....-.__._---_ .-------.__...._.._____ ._._,�_...�. ..� - �-- -- �� . _ .__.. I _ . � -_ ; . : � .. � f �. � �v r : . �_ ..:: .: � ,. .::: .. .: _. . , _. , .. , � _. .. . .. �- <,.„; _ .... �. � .. . . .._ . ,..- _ - - . • - : �. : : � � �: ._� -.. --. � , : . . ._ _ . _ _ _ _ . � � : - �� _ . . . . � � � _ . _ G _._...___ _�.�. ; 1 33. Bank and Authority recognise the etructural heterogeneity of the I 2 Authority's reaidential target areas• On a case baeis, the Bank xill consider � 3 making loans on multi-unit reaidentiel properties j5 �ite or more) at 4 interest rates and vith collateral deposite deecribed in thie Agreement. All b other terma are eubject to negotiationa. 6 IN 1�'ITfiESS WHEREOF, thia Agreement is ezecuted by AuthoritS acting by 7 and througb ite City Council pursuant to Resolution No. and S aupplementing Resolution Ro. 9 Dated this day of ,1982• 1� BANK OF AMERICA NATZOiIAI, TRUST 11 CITY OF LYAWOOD AND SAYINGS ASSOCIATIO21 , �, �Y � � � �-�''��, 13 � Aon ilalsh ! 14 Title Title Yice President-Statevide Head 15 City Improvement and Restoration Program � 1s � 17 APPROYED AS TO FORM: Attached 3a ¢ true and correct copy of the originel Resolution: 18 19 `� Agency Counsel City Clerk 21 2`L 2�i 2�4 � ` 26 27 . . ZS -14- .. - _ _ _ . , . ...;_ �r�--- �— �, . � � DATE: No've�ber 2, 1982 T0: HONORABLE MAYOR,AND MEMBERS Or THE CITY COUtJCIL �\.;� . •. I �.;� \�,;: F�,QM: Sandra M. Read,�'�Qommuni�y Development Director <� -- . SUB�ECT: FILING OF ANNUAL REPORT OF LYNWOOD REDEVELOPMENT AGENCY (LRA) TRANSACTIONS. PURPOSE: The purpose of this item is to file with City Council a detailed report of ali LRA transactions for the fiscal year ending June 30, 1982. BACKGROUND: On September 2, 1980, City Council directed LRA to file annually, a detailed report of all the Aqency's transactions including a state- ment of all revenues and expenditures. This information is contained in the annual audit which was completed by the firm of Lance, Sull, and Lunghard, Certified Public Accountants. ANALYSIS: A copy of the audit for the period ending June 30, 1982 is transmitted herewith. RECOM�4ENDATION: That City Council receive and file the attached audit of LRA activities for the fiscal year ending �une 30, 1982. Attachment � AGEid7A ITEM � l �� ° ` � - . _� : - �__._- .._..:.;: _.�:..;,.�.: --- ---- -- _.__._ _ � i1 1 . . � � � /� -^^ i LANCE, SOLL 8 LUNGIiAR.D CERTIFIED PUBLIC ACCOUHTANTS ' � TL��rNpN[ � SUITt 520 wNITTILR SOU.�.MC 121]I 6D�•67Z RO6CNT C. 11NCE 1y218 CI.ST PCNM STRCLT RICNARD C• 3CL� � FRCD J. LUNGN.�.RD. JR. WryI771ER. GAIIFORNIA 90602 B Q,�,�NppM W� BURROWS �� August 18� �overning"Board �ynwood Redevelopment Agency Lynwood, California 6entiemen: We have completed a financial and compliance au198z°Which Lynwood Redevelopment Agency for the year ended June 30, items has been issued under a separate ccver. �Url^9 th�resenttfor the came to our attention whiCh we would like to p C,overning Board's information and/or ection. INTERcST EARNINC3S During our rev:ew of investments held by the Agency directly and for the Agency by the Fiscal e°-cefiedBathatt Anterest�.wauldtbe - certifica'tes o { deposit which sP payable at maturity. The 6overnment Code ° Will� beatpa�d Catifleast � Sectien 53645 specifies that interest The certificates we noted quarterly to entities such as the Agency. aid to e>:tended beyond a quarter and thus should have had interest p the Agency in quarterly installmPe�s�u�o�eveew�ano interest wastlost wi11 be rec otfier p to the Ag y otential interest from .reinvested ; r� order to comply with the Government Code� we suggest earn.ngs. that the Agency require all institutions tWe`suqgestethatWthe Agency interest at a minimum quarterly. Also, :� inform the Fiscal Agent to require such p�yments on investments held for the Agency. ' AGENCY BUD6ET5 ' The Agency adopted a budget far =iscal yearrela8a`Bon o� accordance with applicahle law; however, durin9 the p P the financial statements we noted iarge variances between budgetec a�d actuai amounts. These varia�ces apparently stem from pro3ect� I.;', or revenues being budgeted at the beginning of the year but later ';, when tfiey are found to not be feasibe{ �Wnl�n eb�losely aollow removed._ In order to have a budg go�rd consider ha�in� actual results, we suggest that the 6overning a mid-year or' year-end budget review where the original budget i ad�usted to reflect actual opera:iens. MEMCiER ' CALIFORNt�. SOCICTY OF CEATIFIED PUBLIC �CCOUHIANTS . _ ♦MER�CAN INST�TV_E OF CEFT��LD PUBLIC �CCOUNT^NTS - _�__.. I . . . ____.. ' —" . — _ , . 1 . :' ''. :.' .. . . ' .... � ' . .. . '�.. . �• . " . ... 1 . . . .. . = . . .. — - . ' � — � . .. .... � . .. ... . ... ... �� . .. �. . _.. _.�..�..��re�.�..�. ..��. .�.�_��. . _ � - , _ . . .. ., . . � * � . ... _.. ._ _ .___,_..__...._ ----- _ - ...�.._..._:� -�--- �-� � �- � LANCE, SOLL 8 LUNGHARD C£AT�FIED PUBLK.�CCOUNTA��^5 � .� ANNUAL REPOR? Sec{oonPrepaee•lfo�f thee6overning Boardaaereportewhichlincludes Agency the foliowing: � i, qn independent financial audit reRort with comments an compliance. z, q work pragram for the coming year (Fiscal Year 19fl2-83). g, An examination� of the previous years (Fis�al Year 1981-e2> achievements with a comparison to that years established goals. 4. Recommendations f or needed 'legislation. qs stated p�eviously, we have submitted, under a separate cover, an audit report which meets the requirements above; however, the remainder of the re4uirements must be performed by the Agenc� _ prior to December 31, 196::. Also, once the report above is apprave� try the �overning Board it must.be sent tencyestaffeisTawarefe*n�h Department af Community Development. A9 ort wiil b _ requirements above andlhaWeth^theaCodet� us that the rep prepared in time to comp y • ACCIIUNTING RECORDS We are pleased to report that the Agency's financial record are complete and have been mai�tained in a timely fashion. We hav also seen an improvement in the basic procedures underlying tt financial records and hope improvement continues. Finally� we .have discussed the items notedencthstaefExeShou` Director of the Agency and where applicable A9 y erations ; any questions arise with regard te the above or Agency oP general, we will be available for discussion. Very truly yours, . �-��' e � �' LANCE, SOLL & LUN6HARD i I . '_ _ . � _ .. . � . ,.- _ -. . . . . . _ � �� - - '�--- - .� �.' ---.�. � _., . , : >:. , : .. ,. - � � . . . . , , _ _. .._ ... __ -_ :-� ---_.__- --��. LANCE, SOLL b LUN��HARL �' ,.�1 CERTIFIED PUBIIC ACCOUNTANTS �- _ �- LYNWOOD RIDE�'ELOP:SENT AGENCY AiIDIT REPOFZT JUNE 30, 1982 � _� . _ ,, _ i_. _ - - _ - _ F . : , , . - -- - ---. - --- , , .. _ ,.. , .. .. _ . . .. . � � �, -- L.hNCE, SOLL ts LUNGH.�,R C£�TIFI[(J �uBUC aCCJUVV>n"5 L`.•`:��OOD REDEGcLO?KE\T XG�\C: � -...-- CRE..�TED MaRCH 23, 1973 GOV=RtiIfiG BOARD Term Expirea Louis A. Thompson Chairman 1985 Eugene R. Greea 1983 James =. Rowe 1985 John D. Byork 1983 " L. Morris 1985 OTH�R OFFICIAI.S ?>ndrea Hooper Secretarv Sand.a Cnapek Treasurer Charles Gomez Executive Director - I _ _ ,. . _ .. . , � �.... ,-,:, �.:,,..� :.._. ....�._.. . 5 . . . . . •.�.... . . . ' . ' • ' ' ' ' � . . . . . .. .• .. .. . .. . � - �. � .. , . .. -_ . . - . . � �s� _ _ ! , ��.�.�.� � .� LANCE, SOLL b LUNGHARL : CERTIFIED >UB�IC ACCOUNTqNTS LYNWOOD REDEVELOP*fE�T AGENC3;,,,_ TABLE OF CONTENTS Paee Nu�:ber AUDITOR'S OPINION- Financial Audit 1 Compliance Audit 2 EXHIBIT A- Combined Fti:nd Balance Sheet, Governmenta3 Fund Types and Account Groups, June 30, 1982 � 4 EXHIBIT B- Combined Statement of Revenues, Expenditures and Changes in Undesignated Fund Balance - Governmental Fund Types, for the Fiscal Year Ended June 30, 1982 5 NOTES TO FIN?.NCIAL �TATE.*fENTS � SUP?LE.*fENTARY SCHEDULES Schedule 1- Combining cund Balance Sheet, Capital Projects . �nds, June 30, 1982 14 Schedule 2- Combining Sta*_ement of Revenues, Expenditures and Changes in Undesignated Fund B2lance, Capital Projects Funds, for the Fiscal Year Ended June 30, 1982 15 Scheduie 3- Combining Fund Balance Sheet, Debt Service 'runds, June 30, 1932 16 Schedule 4- Combining State�en: of Revenues, Expenditures and Changes in Undesignated Fund Balance, � Deb: Service Funds, for the Fiscal Year Ended June 30, i982 1 � Schedule 5- Legal Compliance Presentation, Balance Sheet, Special r'und, June 30, 1982 19 Schedule 6- Legal Compliance Presentation, Statement of Revenue, Expenditures and Changes in Undesig- nated Fund 3alance, Special Fund, for the Fiscal °ear nnded June 30, 1982 20 ' - I` ' , � _ .... . __ ..�._ _.._ _ :. : ; .. - - ,:. : _. .. .. , . . ,.. . -... ,, ... . • � �, ;--, --� ,: -% LANCE, SOLL b LUNGHARD �� CEFTiFIED PUBLIC ACCOUNTANTS � �.- ROBEPT C. LANCE SUITE 520 �'/H�TTIER SOUARE TCLEPMONE 12131 6DB-672� RICHARD C. SOIL 132i5 EAST PENN STRELT FRED J. LUNGMARO, JR. , BRSNDON W. BURRO".'S `A'MI"TIER, CAL�FORNIA 90602 Gove-ning Board _ Lynwood Redevelopment Agency Lynwood, California We have examined the combined financial statements o: the Lynwood Redevelopment Agency for the year ended June 30, 1982 listed in the foregoing table of contents. Our examination was made in accordance vith generally accepted auditing stzndards and included such tests of the accounting reco:ds and such other auditing procedures as we considered necessary in the circum- stances. In our opinion, the aforementioned combined financial statements present fairly the financial position of the i,ynwood Redevelopment Agency at June 30, 1982 and the results of its operatioas for the year then ended in coniormity vita generally accepted accounting principles as well as accounting systems prescribed by the State Controller's office and state regulations gov- erning special districts, applied on a basis consistent with tha: of the preced- ing year. Our examination was made for the purpose of forming an opinion on the combined financial state�ents taken as a who:e. Schedules 1 through 6 are pre- sented for purposes of auditional analysis and are not a requi:ed part of the fin2nciai statements. Such informaticn has beea subjec:ed to the auditing pro- cedures apolied in the examination of the combined iinancial statements and, in our opinion, is fairly stated in all material respects in zelation to the com- bined financial state�ents taken as a whole. ��, �,�2� � �? August 1S, 1952 . � MEMBER . . CALIFORNIA SOdET OF CEFT!FIED PUBLIC ACCOL'NTqNTS ' ' - 4MERIC�N IHSTITVTE OF CERTIFIED PVBLIC ACCOVNTANTS , . . .. .. . , _. .. :'.. . �C.. .- . ... _ . . _. _" . '..''.. . . .. . .. .'. . � . . , ,. . _ ;. . . . :. _- ,.. , . . . .. ; , , , `: ' � "�.:�. '. �. ... . . . _ . . . . " . . Y.. -. i.... ::. :. _':._, ' _.-. .. ..( .., :_: .. : ..'.'., . .. ,. . .::. • ... i . : .�. . • .. . . . � .. - - _ - . �' — ' _ _ _ _ — __ _ ��.�� . .� . . (, � � j ' LANCE, SOLL b LUNGHARD >. . CEFTIFIED PUBLIC ACCOUNTANTS �_ ROBLRT C. I.ANCE SV��C 520 �'+NITTIEA SOU.�.RE TEIEP�+O�+E RICN4RD C. SOIL 13215 EAST PEMN STREET (213) 6DB-672� FqED J. LUNGNARD. Ja. BRiNDON W. BURROM'S WM�"T�ER, CALIFORNIA 90602 Governing B�ard Lynwnod Redevelopment Agency Lynwood, California Compiiance Audit Report We have examined the financial statements oi the Lynwood Redevelopment Agency ior the year ended June 30, 1982 and have issued our report thereon dated August 18, 1982. Oar examination was made in accordance with generally accepted auditing standards and included such tests of the accounting records and such other auditing procedu:es as we considered necessary in the circumstances. As part of our :eview we have completed a compliance examination as required under Section 33G80.1 of the He�lte and Safety Code of the State of California. Our compliance er.amination vas made in accordance with the State of California, State Controller Division of Local Government Fiscal Affa'ir.s "Guidelines for Compliance Audits of California Redevelopment Agencies" and included such othe- tests and procedures as we considered necessary in the circumstances. In our opinion, the.iynwood Redevelopment Agency has complied with laws, regulations and administ:ative requirements, as contained in the "Guide- lines io- Cor�liance Audits of Califcrnia Redevelopment Agencies", of the State of California, governing its activities for the fiscal year ending June 30, 1982 Under Section 33080.1, the Agency must prepare a repor: to its Legis- lative body and the Department of Housing and Community Development of the State vithin six months of the ead oi the fiscal yezr. Because the report is not due until Dece9ber 31, i982, the Agency has not yet prepared: (1) a work MEMBER � � CALIFORNIA SOC�ETY OF CEP.TIF�EG PUBLIC �CCOUNTANTS - AMEGIC.�N INSTI?UTE OF CC^nTIiIED DUBI�C �CCOUNTANTS , , _. : . - . " :. : . . ,_ _ _. . . _ � . � • __ _ . .._ _ _ - ____. , � -� -� i.ANCE, SOLL fi LUNGY.AFR _� _� , � CERTIPIED PUBLIC ACCOUNTAN?S Governing Board Lynwood Redevelopment Agency -+-- Comnliance Audit Page 2 prog:am for fiscal year 1982-83, (2) an examinatioa of fiscal yezr 1981-82 achievements and comparison with goals; and (3) zecommendations for needed legislat�on as required by Section 33080.1 of the Health and Safety Code as of the date of our audit. Aowever, the Agency has informed us that the re- quired information will be prep2red and filed in time to comply with the Health and Safety Code. The Agency has two project areas both of which vere foxmed prior to January 1, 1477. An amendment.was made to one of project areas during fiscal year 1980-81 to add an additional area. While Schedule i of the "Guidelines for Compliance Audits of California Redevelopment Agencies" of the State of California is applicahle to this amended area, it has not been prepared as the Citp Council'adopted Ordinance No. 1111 dated.December 16, 1960 which.made ap- propriate findings under Sec*_ion 33334.2 of the Healt:� end Safety Code that the reanirements for low and moderate housing were being satisfied. Thus, no low and moderate housing fund is maintained by the Agency. - �°�� P � �° � �� August 18, 1982 � _� , ' _... � � ( � , " ' _�, � LANCE, SOLL B LUNCIIARD /� : �� Exlilblt A � ccnnniu voo.m .ccour.un�c � . '� � � LY�7NODD RHI]EVELOPHENT AGHNCY I� � I CO�IBINED FUND BALANCE SIIEET � i � . � COVBIUi,YFNTAL FUND 7'YP65 ANU ACCOUNT GROUPS � ' � JI1NE J0, 198� i � � ' I . t ' ' . : . . . . � � �. � ' GOVERNlIH F UND TYPHS ACWUNT GftC � , � �P�[u] Deb[ Ceneral Ceneral To[al f � . A 5 5 E T S Pro,]ects Servlce � , . Fixed Lw�g-Term Me�mrandum � � FunJe _ Funds Asse[s ( ' ' ,� � Current ' — Debt _ Only) ' � : ' - Cnsh in 6ank � � � j' .'a;� �� Petty cach $ 397�7BB S Stl9.510 S 987�298 �. • :- � " � CusL end lnvestmen[e wlth fleeal egent 300 � 100 '. � ' . Taxes rr.cefvable 659,644 243,721 907�765 � � � Allowance for uncollec[163e Caxee �2'Z66 � 17,266 � � .' ,_ . . Due fram o[her funds (12,266) (12,266) � ' . -. ". ' Ftxed ascecs (Nutes 1 and 10) 9,592 9,592 �' � 5 1,062 I ' . Amount uvallaLle fn debt aervlce - 1,062. .'�. . .�� , . Amuunt to Ar. prnvlJed for repayioenC S 7J0�6]2 77p g71 �. : . ' uf long-[erm Jeb[ � � ' • , : To[al " _ 1iG44.485 1 LHS � � . .. . $ LQ6L114 S flll..�,ll 5 1 5 2 _•.1Li.11Z 5 5.�2b.524 ' . �. � . LIABJLITIES ANU FUND EQUITY � � ' . �� . . �� . LIaGiLtics � � , . Accounts payeble . ' � � ' '� �ue to Clty of Lynvood � . S 24�2J6 � '_ � . . . 3,594 S 74,2J6 �' Due [o o[her (und� 9�592 �� B�nds payaLle (No[es 4 anJ 10) y�592 I , ,� Loans paynLle m Clty of I,ynvooJ �- S 1,040,000 1,8G0,000 j � . (Notes 6 and 10) ''� To[al L1aLillclea — 535�� 535� 117 � . $ 3I,422 i� ` - FunJ Gquity , . . S 2.375�117 S 2�412,S19 � ' �� . ''. - luvestwen[ ln [Ixed usse[s i � � ! S 1,062 . j� " ' Fund Balance S 1,062 � � a Reserve tor apeclal purposes (No[e 7) ' � j., ' � .. -. ` � Deslgnated (or deb[ servlce $ 73�002 — 7J.002 1 . ' UndeslgnateJ (Exhlblt 0) 730,672 )30,6J2 Total Fund Equlty S 1�029,702 29,597 1�059�299 .'�.':.� .� - $ 1 �029.702 $ 839.b1 S 1 p62 � . —�— —�- 5 l i B6 _7_L_ 95 � � " iutat S 1�9StZ..174 S@11..231 S LQtt� � S T_..ZZS.,11Z�� i ' ' � S 5,.?1G.fli j . ..' � . �: , , �_� � � , � f.... . . '� $'!� .. . � Sce Nnlcs to Flnanclal 5[:�[emmi[s , _ . . - . . , . i % • r' . �;_l � LANCE; SOLL 8 WNGlin0.D� � � . , . � � � . �� Ex6161t B � . � -. . � C . � . . � , ' , . . . ' � . . � � � . � . � . � LYMd00U REUEVF.LOPIfENT AGENCY . - .. . � � � , I � WtiU1Hf.D STATBNENT OF RtiVENUES, EXPENDITURES ANU CIIANf.ES dN - : � . ,.. � . - , . UtIDESIGNATEp FUND PALANCE - GOVERNMENTAL FUND TYPES . . . . � . - . . � ' FOR TIIE FISCAL YEAR ENI)ED JUNF. 30, 1982 � � , . �� . ' . . I . . . . . . . � , . . . . , ' � � - . , f.AP[7'AL.PIIOJECTS P UNUS pEB7 SEAVICE FUNOS 'L(]T�LS - (MF ONLY . '�f , .. , ,I . . . . - Varlance' VarSance- � Varlancc- , FavoraLle Favorable Favbrable .. � Oud eS [. Ac[ual (linfavorable) BuJ6et Ac[ual (UnfovoraLle) BuJget _ = M tua] (UnfavornLlc) i ' - • �, . � �. Revenues � , - . - � � Taxes Secured 567 $ ]02,1i9. I S 94, .$ 7,612 .$ 94,SG7 S 102,179 $ 7,G12 �+ " ! . UnsewreJ . � 27.70U 24,)42 (2�958} . 27,700 24,742 ' (2;958) (.. ' I� Buslnesa Snventury � ypy,277 147,089 �(57,188) 204,277 147,089 (57,18t1) ( �; '� I � Interest � � S 105,000 S 140�390 ,$ 35,390 � 103,500 114,240 �. 10,J40 ZO8,500 254,670 4L;170 i' ' � � � Rente ' ' 240 265 25 � 240 � 265 � 25 -' , , � � � . 4oan proreeds � 110,000 130,000 -0- � - - � I ��'�� 99 99� 1]0,000 110,000 -0- 79 99 �� ' � �'� To[al Revenues - $ 215�240 $ 250,754 $ 35,514 S 4l0 044 .S 388,250 � _ .$(41,794) S 645,284- S 6)9�004 $ �16,2H0) Expendl[ures - _ _ - _ ___ __ �. � . _� �. � 'i i Adminlstrative'costs, � $ 189,948 $ 90.768 $ 99�180 , � S 189,948 $` 90,768 S 99,180 .� �� - �- ..� I.egal se.rvices 30,000 6,301 23,899 � 30,OOU ti,101 'I3,89I j. ;� :� ..I . Planring, survcy and design ' $1,000 22,406 28,594 � � 51�000 22,406 28,594 i . . Real es[a[e purcliases 467,000 467.U00 . LG7�OOD � 467,ODU ` � . � , . % Acquisi[imi expense � 5,000 2,G08 1,392 � .. 5�000 2,60A � 2,392 ! - -� Opera[lcn of acquired pruperGy ' 2,150 80 2,0)0 � ' � . i - Rclucatfon cos[s 2,000 . - . . . 2�150 � �80 2,JJU I ' , . Relnna U on � men[s z"�� 2�Q00 2;000 � P•Y 200,000 � 200,000 200,000 200,G00 � �� . ��. Stta cicarance coste 25,000 25,000 � � � ' Project improvemen[ costs ' 300,000 6,'r45 97,555 25,000 � � 2y,0U0 •1 -, ; i USsposal costs 2,000 2,000 ' � � .�00,000 6,4L5 93,555 . ln[cres[ paymen[s � , 2,000 . Z�ppp f ' OonJ rincf al re[Iremen[s $ 135�355 $ 131,975 $ 3.380 135�355 131,975- � 3�]!IU 1.� , � i ' P P 4p,000 _ 40,U00 . -0- ` 40,000 40,000 . -p- { Lnan repaymr.nts 110,000 110,000 -0- llG,000 � 110,000 �-p- a � � � j � � Flxed asset acqufsltlon � _ 1� 000 _ 332 _ 668 �_ � _ _ � _1�000 _372 66ft � .. .' ' � � Total Expendleures � � $ 1,075 $ 128,740 $ 946 $ 285� $ 281,975 $ �,3P0 $ ] �S�L10 5 445�7J8 f,� - " . . '�. ` � � Excess of Revenucs Over . . '--� . . � i . (Under) Expenditurea ' $(P59,850) $ 122.014. $ 981�872 .$ 144�,689 $ 106 S(JB 414) $(715 169) $ 228 299 / 458 i . . . UnJestgna[ed Fund Dalance . --- . ; � -- - . . -�._� _- -e _ .. .- �.-.- $ 9 7 �'° ' i � ' deglnning of Ycar - July 1. 1981' ` ' . � . � ,. ' �i . . as.prevlously repor[ed � . . ' $ 482.571 . . �$ 572,Q50� � � � . .� ' . Adjuslments .. . . , . . . $ 1,054�G21 � Prlor year taxes'� � 81,904 . ... . . �81,�904 �� ^� '� ' Trans[er o[ Long �OeacL iioulevard. , . _ . . . . .. o ' _ . . . . . � , . _. � . � : .pro]ec[ 1�labltl[y [o [Lc General - � ` . � '.: � ..� '§. .. .. .'. . � � L<�ng-Term Ueb[ Gmup af Accoun[s . . : :" ' 425,1ll � . . � ' . . . - .. �`� � . , �425 117 �. ' � � ,. ', .. ' �� i �__'_ . � . � . . i .' , � . . -__- . . �__ _ ' .: v ,. �' . . . � _ . ' . , . . .. ' , ' . . . . . . . . . . . . • . , . . . * . , - ' . .. . i : � � � . . , . . . : . . ' " , . . '. . . ' . . ,'. . ,. . . . ` . .. . : . . ' . . . � . � <. . .. .. � ' � : . - . . � .' ' � . _, `, s . . . . � . . . - . . . . , . . 6 .'� .' . " c.,, n,.... .. ri.....��..i � . . . . i , . - i ,�, , i . , � LANCE, SOLL B LUNGIIAR.. , � . . un�ineu vuauc.ccouw��w�c - Eshibll B � . ' - . � - . ' (Cnn[luucJ) � .. , . � � LYIn�00D REUEVELUI'MENT AGENCY .� � .�, . � COMtlINtO S7'A'1'HHENT OF REVENUES, E%VCNDITl1RHS AND CIIANCF.S IN � � � � �� UNUESIGNATED FUND BALANCE - GOVEHN�IENTAL FUNU TYPES � . � ' �' FOR TIIE FISCAL YEAR ENUED JUNE 30, ]982 � i i 1 f, .'��.�; , I CAYITAL PpOJLCTS �'�riance- — UEeT SEItVICC FUNI)S T�T_11.5 (tll!tlUlNNUI0�1 ONLY) �� , . � � Varlancc- V.�rLir.[e�_ ' . � Favorable Fevurablc ��'� , , BuJge[ Ac[ua] (Unfavorable � F��oGible _ ) Budget Ac[ual (l7n(avoraLle) __Bu�ec Aciva7 �UOIJVO[JLIC�� I ' I Undcelgnafed Fund Balonce (Con[�d) ; �' ,• • �`, � 8eginning of year - July 1, 1981 � � . � , . ; ne res[atrJ $ 907,688 •�� . ' S 65J,954 $ 1,561,642 `� � ( Exceas of Revenues Over � I , . �� (Under) ExpenJltures , 122,014 306,275 ' . 22H,2B9 � ' I . Ueslgna[ed for Debt Service ( 730,632 ) I' ' _{�3o,v�z) End of Yea� - June 30, 1982 � ��r ' � I (Exhlbl[ A) $ 1_..Q_23�Z4: � . . �. . � . $ _'s4..S4Z S I,.Q59._?42 , . � I � ' � ;. i, l � .. � , , � � � �� : ., . � . : ; � � : ; :. � ; , . . �: ;: , ,, ,. ► . , , . . �, ..� , . . , � ., ,. �' � -�� Sce Noles lo Fln:inclnl Stalemen[s t�� : ,: ' •. � ' � .. � , ,., _: �. _,... � `. � _ . _ �_.-�� ____-._.____._-�..� , �. _ . _ � � LANCE. SOLL 8 LUNGHARL� � � ccwrinm.o�uc.eco�w*.r+.s J � . LYNw00D P,T'.,�EVELO?!��NY AGEt7CY � .,.. � a • NOTES TO FINANCIAL SiASE`LhTS �- , " � � -� SUNE 30, 1982 � i . � �� 3 Notc 1: Description of Funds aad Basis of Accounting ' ��`� Descrlption of Fund Accounting Systems I i ' �� :�i Coveramen[ai a�coimciag systr�s aze ozgaaized and operaced on i� � �. _... � �� a fund basls. A fund is defined as aa indepeadeat fiscal aad � - - accounting entity vith a self-balaaciag aec of a[couats re- i �.. . cordiag cash�and other Einanaial resourees, toget6ez vlth all � '' �- �. related liabilities.and residual�equlties or balances, aad i ': ; � �-- �%�;�_-��„ changes tAerein, vhicb are segregated tor the purpose of car- . � ,�_:.;;�'�`�._...' ryiag oa specific activities or attaiaing certain objectives � �. � ��! � . in aeaordance vitti special regulatioas, restrictians, or limite- � I � � - � :i tioas. � � o � 1. i -"'�'�� A. 'Rpes of Funds � � I � _ ,.,�,.� • The follocing types of fuads aad tLeir purpose are used by � � . � the Ageacy: � � .. - Govez�enral Fuads i � ;z�t��'_,�' - � � _ (11 Debc Sen�ice Funds - to.aecouat for the acc�ulatioa of ::: =;.-�,:: .„ - ;._:� or resourees for, and the paymmt of, interest end prin- .�- '�_�--� cipal on geaeral long-term debt. All taz iacrement fuads � �' received are placed in theae funds and are uaed to re[ire � _ �.��J debc (bonLed or loaas from the City) ia accordance vith -.v �__� ihe Health ann Safety Code. . . . .�_::. �? � . ' � �r . �(2) Ca91ts1 Proiects Fuads - to account for £inancial reaources � y �� . � to be uaed for the acquisition or eoastruction of major cap- �� 1 � ,:� �1• ital facilities. � , � ' �� F. Account CrouDs i ;. Accoua[ing for Fixed Assets and Long-ierm Liab?licies � _ q _ 4 . �r _ , .-._ :._.__ """__'., . .,,._..� _ • .�, � I . -.. . ' ' -___ .' ' . . . . ' _.' _ � .. . . . J , � .. .' . _ . - . , _. . ' ' � ' I ; . ; ', � .. :.�., . . ' . . , , .. , : ...;. :: :. ,� � � . . _ : ` � L�NCE. SOLL b 1UNGH�AL i � �' � " CCPTIfICO��IVOLIC�CCOUNT�MTS ' ' Lynwod Redevelopmen; Angency . � . . Notes to Finantial Satements (Continued) _� a � . ; Note 1: (Coniinued) � � i � ' ��_� ' (1) Al1 fixed asaets of the Ageacy are accounsed foz through �� - - �' the General Flxed Asaets Aeeovnt Group. '_� ,; . , _ � �� (2) A11 unmacured lcng-[exn liaSilities of t6e Agency are ; '�� accounted for ihrough the General Lovg-Term Debt Accoimi . _ . , .. -�� Group. � � . ;I . � Valuation of Fixed Aasets . ' - ' . All fi�ced assets are rceorded ac historical cost; if this eost i_. .. ... __ _ � � - _ information was not available, the fair market value ac the date ' ,:'.i '� � + of .acqulsitioa has been used; donated asaets�are reeorded at � � _� their estimated falz value at Che�time received. In aeeordance I -�:{ � vich gmeral2y aecepted accouating priaciples, the Agmey nas . i . i i - .;��a:..� �: elected to not capitalized the cost of acquisitions related to •� .� "��_ .assets held foz resale oz tzansfer to a develapet. Consequmtly, c6eae itms are noc re£lected ia che Ageney's finaacial statemencs. � � - , .. � �j C. Basis of Aceounrin¢ ' i - - - ' ��"'��`��-' Accrual �Basis in Goverammtal Aecounting j � ._Yy_'..:.�' . . I i r' � _- The accrual basis of aecountiag for assets, liabilities, reo- ! ,-� ;_.,� enues, ezpeases and traasfezs is utilized [u the extmt practic- i _��`�; able in measuzing fiaancial posicion and operating results. i - .. � �.�.� .,(1) Governmmtal fssnd _evenues aad ezpmditures are reco�i�ed �" `"�_ on the modified accrual 6asis. Revmues are zecognized in , .-...�..�:.�r . - � _:."y' . the accounLing period in vhich they beevme available and • � .,�'-�� , objeetively meayurable. Ezpmditvres are recognized in Che + � �� ' acnouatiag period in vMch [hey are ineurzed, if objeetively �� _'� • measuraLle, except Eor.unmacured interes2 on long-term debc vhich is zecognized vhen dve. 1 _ 8 _ I _ ' - ... ' ._ _ , . .. _ . . I i . . ._._._._.. ,__"_..._ ..._..._._.___._�"'__._ __....:. _._-__'___._ __.._._._ ._ __.., . .. ___. -,. -_ .. __�'; _'"__.' __ __ "___"._"_.__"" "—,__—__"—.I . . . . .- . . ..._ ' __,...'. � -. �. .: . . . . . . . . ..� _ ... . . . . . .. . . " . . � . _ I ... _ _..:._ ;; -_ ;:s ... . � � . , ` _ � `� _ : ;� .. _.. _ _. . : : 4 -..._`__.��_ �--- -_-- -- '� � . UNCE. SOLL b LUN.GHAR� � _ � ccnnnco �veuc.ccou�..n•s ' Lynvood Redevelopmeac Agency . � Noces to Financial Sta[emeats (Coatiaued) � :� , ' 'i No[e 1: (Continued) - : . .:�� . (2) Traasfers are re�ogaized in the accoua:ing period Sn � � -a which the iaterf�md xeceivable and paya6le�aTiae. � � � . .� (3) The Ageney's revenue accoimting pollcies relative to Stms � �� -�� .�� suseeptible to acerual ia thoae £ands vherein reJeaue Ss - -� .�. � recognized on a modiEied atcrual, rather than a full ac- �� - .`�-� crual basls, 1s�as follws: Taxes, Revmue.from [he Dse I af Money and Proyerry, Iatergover�eatal Revenve, Charges for Current Services and Traas£ezs are all �onsidered I i ' �'_ _;ri,;� measurable aad are recogaized ns revenue on an accrual j ,_` - si"�--,�'1 r basis; Rmcs, aad similar ite� are, foz the moat part, not i �:{ sus�eptible to aecrual and coasequently aze aet teeorded I � � uncil received. I � ' i ` �� (G) Ezpeaditures are genera117• recogaized uader the moL1£ied f . �' _:�� ac�zval basis of accounting whna the Selated fimd liabiliiy I � ..� � � is incuned. FScceptions to this general rule include':. princi- i al aad incerest on lon term debc vhi�h is reco p g- ga±zed vhen due. _; J i '=i�`. �.;� D. Other Accounting Policies i �-� �. .�: � -- (1) i�estmmts are stated �at cost. . , - j � - . ::;�� • (2) "Memoraadim Only" aaptioas on �vmbiaed statesenu - overviev i �� total coltmms mean that tota2s are presented foz werviev in- ; _ - �`_ ^�� £ox�ational purposes oaly and that they do not faixly prr i _ �:;:.�.,;;,.� smt fiaancial posltion oz results of oyeratioas for the t • �� ` � � ,govexnmental vait as a vhole i.n �onformlty vith generally . ; . . _ ;:j acce ted accouatin J F B Priaclples. �� Nace 2: The Agency k�as cmly �tvc projett areas; hcvever, in 1980-B1 ic amended I ._- �- '.,��j the originsl area; falloving are the particulars: 1 i - I E ' 4 - I � ; , . � - � . . �� . I ; � . ; _ •.'•� _� . . - - . - . . . - . . . � . I , . _ _,.. _ . ... _. _ < ._. . .. .:. , ::< ,.;= ,. _ - �: _ ;. � - . � . : _ . - .,_. . ,.,_ .. ; � . .. ...: . : ..... . _.�. ,, ; _ - -- -. .. .. ___ _.._ __ . _..._... � � �, LANCE. SOLL b LUNGY.AR. j _J , - CCRTIIICC �V�I�C �CCOVM\�Ni3 �� Lynwod Redevelopmenc Agency -, j Noces to Financial Scatemen[s (Continued) � i � �� i Note 2: (Continued) � � � �. �t � - ?rojeet Area Frozen Base�Year � � ��) ' � 1. Pro�eet Are� A 1972-73 .� ; - ., . _ �. � 1980 Amendmmc m � -� .y nrea A 1980-B1 ��{ � 2. Alameda Araa 1975-76 . . .. . .. ' � .. - I j �� ` - Noce 3: As of .June 30, 1982, the fiaeal ageac held for che Debc Service Fuad j � � the folloving iaves�eat vhich is recorded at cost on the Agency's j � - � � �... V''_� books: � ` ,.�Y:.,` . �,:{ Saturitv Co3t 'larket Fate Value � ,r U. S. Treasury.Bills 7/15/8? S 2�2E4 $ 3�,� 5 1S� i f1 I , _� �� Note�4: 2'he Agmcy vhich vas ereaced on Harch 23, 1973 hes arFas � .. 1 i ` ,(Area "d" aad 6lameda Arrs). During 1976 [he Agenty iesued 52,OOO,D00 of Lynvood Co�ercial Center Project Taz Allocation Bonds, Series 19)c. 1 � �,�� 1'heae bonds nelace to Project Aree "A", £or vhic6 [he ftozen baee y�ar � 1 - .'- on the origiaal area is 1972-73. All taz increment moaey received by 7 ! the Agency related to Projecc Arm "A" after July 15, 1976 has been � � "`y,�_� pledged for [he paymeai of priacipal, lntere6t,.an3 premi�ms oa Che ;�: l ! � _-•�-=.�"� bonds. Iateresc on cLe bonds is payable aemi-annually meh January � '�'r�. . � � �_ 15th�and July 15th. Priacipal maturities begin on July 15, 1977 and J �' -_, _,_.�:� concinue on July 15th af each year through July 15, 2D01. Interesc - _ payable oa July 15, 1982 is 562,177.50 vith 540,000.00 of principal �'� •also maturing on thet dace. � , - -�..;s-,�~��'� Note 5: Section 19 of Rewlutinn No. LSA 76-10 speci£ies certain aansfers and � .�__�;�.� � balance requirmwts vhich are to be accveplished by the Fiscal Agent ,�i� _� (Bank of Ameriaa) on or before July 1 of eaeh yenr. As of June 30, �� ;' 1982, transfers mced above vere nct made by the Fixal Agenc; hcw . '..�i •� ever, they vere noc requized ac [hat date. Had the speci:ied trana- - �+ ters 6eea made,�the folloving balanees wuld have resulted: � - 10 - i i . . . . � . .., . . - . . . .. .,-'... . ......._. . . . -:^-----'— � � I ; , . _ - , � : .: _ .: . .� : , + -- ---_ . .. - - - _ -- -- . . -, - � . ; UNCE, SOLL & LUNGHARl.j , % . . �. CCeTIfiCC �Y6LIC �C�OVNT�MTS � ' Lynwod Redeveiopmeat Agency .�_. - Notes co Financial Scatemeacs (ConLiaued) I :� . , ., j 7 9 - � :� �i No[e 5: (Continued) ' ��-- .� „ ..,'� Special Iateresc Priacipal Reserve . �; �,� � Fund Accouat Account Accouoc - _ GsE and I�ee�eats . • _ �.. . 'j .Iuae 30, 1982 $ 103,508 -0- -0- S 140,213 � �i Zrans£ers spe�ified by . � . .- Resolutlon�LRA 76-10 � �- - - � Sectioa 19(A)-Iaterest - . - requirment-amount � � � - equal to inte:est due � "�.. on 7/15/82 and 1/15/83. .. _ .. . - As iasufficieat funds ,_ � _ ��='�'E� are preseat ia Special ._ ;:;?_-:.��:'� Fund, Section 19(c) ,. � ,'� allovs Reservt Accouat � �� -�� funds to be u[ilized (103,508) $ 123,155 (19,647) .� � � - Se�tioa 19(b)-Priacipal. � � '�� - zequirenent-amouas u � � - ' a ' � t{ ' equal princlpal�due i � .... ��.;� 7/15/62. As Speeial . � ' ' Fund can noi :und trann- ' � j . fers, Section 19(c) al- � I � lows�Reeerve Accounc Funds � , . ro De uiilized $ G0,000 (G0,000) � - Computed Cash and Imes�eat j � �'�:'�::�`�'�' Balan�es A.fter Speclfiec I - :��T .Transfers -G_ S � 5 G0.000 5 g��§ I '�{' ":Y��'�� . � � i " —. As ean be eeea, aufficieat funds vere an hand ac June 30, 1962 to accom- _ . .._. � -- ��`� plish the transfers specl_°ied in Sec:ion 19(a) and (b) of Resolutian N0. � � LRA 76-10. Aovever, Sec[ion 19(c) of this Resolu[1on ealls for e"mini- i �� Y-� mum balance equal to the iateresi due on Che bonds aad any addi[ional bonds duriag the next succeeding 12 months pericd" (M+�im,� Reserve�rr e I , . . �y:.a:�.^,� . quiremeat) Co be maintased ia the Reaerve Aecou¢C. As of July 1, 1982, � inceresc due on the bonds oucstanding amouats to 5123,155 for the nexc , .. succeeding 12.monch period. Therefore, a dnficic o£ 5»2.589 esiscs re- ' � � _ :�� latlag to the Aeserve Account "lfimiaim Aeserve Aequizeneat". iF.is def- , . , j • " icit is co be rescored by �transfer of the first available�tax zeveaves . . . . ( . . . . - 11 - . . � � � � . . 7 � . . �� . _;. . .. ._ _ -; , � ;. , . .. � ._ --:.- k...__ _ __.._ __._�__ �. ------- - -- , �. �, LANCE, SOLL b LUNGHAR.._,' _ � CERTIPIED PUBLIC ACCOUNTpNTS Lynwood Redeveiopaent Agency �otes to Financial Statements (Continued) Note 5: (Continued) or other funds received by the Fiscal Agent after July 1, 1982. Also, it is possible that the funds present in the reserve for special pur- pose (discussed in Note 7 below) could be utilized to restore this def- icit. Note 6: The Agency has agreed to reimburse the City of Lynwood for certain improvements that vere a benefit to Project Area "A". The amount specified in Resolution LRA 76-6, is,$425,117.00 and is to be paid out of taxes levied i.n the project area and allocated to the Agency under subsection (b) of the Health and Safety Code; Section 33670, or out of any other available funds. The repayment is to be in such amounts and at such time as are deemed reasonable and convenient by the Agency. No payments were made on this liability during fiscal year 148I-82. Note 7: The reserve for special purpose.consists of excess tax incremeat money determined by the trustee during fiscal year 1978-79 to be in excess o: requirements for that year's debt retirement purposes. It is to be used by the Agency for :uture debt payments, etc., (Section 19 (d) of Resolution LRA 76-10 and Page 6 of Official Statement). Note 8: Agency ir.surance coverage is carried as a part of the City of Lynwood's I coverage, wherein the Agency is listed as a named insured. Note 9: Qn February 19, 1982, the Agency entered into an agreement c:ith Econ- omic Resources Corporation (E.R.C.) for off-site improvements in the Alameda Projeci Area. IInder this agreement E.R.C. vill co�ence con- straction not later than January 1984 and complete construction not later than January 1990. Per tne agre2�ent, the Ageacy aill be in- debted to E.R.C. in the amount of $444,534 relating tv.the i.mprove- ments. The A3ency and E.R.C. have also entered into a Pledge Agree- ment which irrevocably pledges all tar. incremen: of :he Alameda Project . _ 12 _ _ , - _ ;. ; - . . � ... -.-'.... . „�' ...,..::. ..,... . . . � � � � . „ � LANCE, SOLL b LUNGHAF� � Schedule 1 . CERTIFIED VIIBLIC 4CCOUNT4NT5 ' LYNWOOD R°.DEVELOPMENT AGENCY CO?iBINING FUND BALANCE SHEET CAPITAL PROJECTS FIJNDS JUNE 30, 19E2 AREA A ALA2�DA AREA ' Alameda Project Redevelopment Administrative A S S E T S Fund Fund Total ' Cunent Cash in baak $ 204,380 $ 193,408 S 397,788 Pet�y cash 100 100 Cash and investments with fiscal agent 659,644 659,644 Due from other funds ' 9,592 9,592 Total $ 873.716 $ 193•408 $ ]..067.124 LIABILITIES A2�D FUND EQIIITI' Liabilities Current Accounts payable $ 15,330 $. 8,9D6 $ 24,236 Due to City of Lynwood 3,594 3,594 Due to other funds 9,592 9,592 Total Current Liabilities $ 18,924 $ 18,498 $ 37,422 Fund Equity Fund Balance IIadesignated (Schedule 2) 854,792 174,910 1,029,702 Total $ 873.716 $ 193.408 $ �.06�,12G - 14 - � � .,, ., .. ---_. .. __- -- ---_.__--__-. —._—_____ _.__� _ _-� ------ -.. _ . -- -- I -.- _ � - I '` -- _, _ _. .. _. .. .:. - -� i � , -. �-� , . LANCE, SOLL B LUNGI-IA0.� � � ' � � � ScLedule 2 , ... �. . i C[N�11�\U VUtltIC ACCOVNI/.N�• � •. ' . ' � . ' ` ' � - � � LYN4WD REDEVELOPNEHT ACENCY � , � � . � CONBINING STA7EMCNT OF NEVF.NUES, H%PEND1TlIRtS AND I �. � � � CIIANCES IN Ut11)ESIGNATED FUN� BALANCE - CMITAL PROJECT FIINDS � � � . FOR TIIE FISCAL YEAR EN�EO JUNE J0, 1982 ' � - � .. ' � � . . .. . . . � � � P R 0 J E C T A R C A A ALAMEDA PRO.]ECT AREA T 0 7 A L _ i �. . ' . .. '.,� Varinnce- Vurlunce- Varlance- . ' . Fevorable Fawreble FavoraLle I � � �) Budge[ Ac[ual (Unfavorable) Budget ' Accual (Ilnfavorable) Budge[ Aclual (Untavoruble) I Hevenues ; �• �. �. � Intereut $ 105,000 S 125,373 S 20,173 $ 15,017 $ 15,017 $ 105,000 S 140,J90 S 75,390 , Rente 240 265 25 240 265 25 i $ 110,000 ll0,000 -0- 110,000 110,000 -�- ' � Loan pruceeds 9g 99 . . �� . J Other 99 99 � �� . . � � � ,, . .. ��_;F.. , Totel Revenues $ 105,240 S 125,737 $ 20_�497 S 110,000 S 125 5 15,017 $ 215,240 S 250 $ 75�514 ' ' � H%pendlLUCe6 I , �, Adminixtrative coets $ 94,224 $ 44,415 $ 49,809 $ 95,724 $ 46,753 S 49,371 $ 189,948 S i0,160 S 99,100 . � � Legal servlces 15�000 2.977 12,027 I5.000 3,128 11,872 30,UUU 6,101 27,B99 �� _� .. - ` Plnm�tng, survey and deslgn 26,000 11,946 14,054 25,000 10,46U 14,54G SI,000 21,406 26,5'14 . . � Rcal estate purchases 467,000 467,000 467,000 46),000 � ' ' 5,000 2,608 2,392 5,000 1,fi08 2,392 � ; . ' '� Acqulsl[inn ezpensc , 1 Opera[1on of ecqulred proper[y 2,150 BO 2,070 2,150 80 2,070 I. f, 2,000 2,000 2,000 2,000 � Relocattnn cos[s 200.000 200,000 I, � � �-� RelocaClon payiocn[s 200�000 200�000 �.� , � I Slte clearance cosce 25,000 25,000 - . 25,000 25,000 . � ProJect improvcment costs � 6�445 (6,445) 100�000 100,000 100,000 4,445 9J,555 � � uisr�s�i Co5C6 x,000 z,000 s,000 s,000 � .. .� 'j 500 766 J34 i00 166 7]S 1,G00 772 660 �� Fixed nsse[ nequlslclon � . �'� Total Expendlturee .$ 838,874 $ 68,633 $ 770,241 $ Ylb • 224 $ 60 ,107 $ 176 1�_ 17_ $ 1,075�OY8 $ 128�_740 5 94�758 � , ��I• �� Excess of Revenues Over I •,. (Under) Expendltures S(]�7..�) S��14 S Z44.Z3� 5(1? 2�) S�5�214 S 191��114 S�flS4.QI9) 5 12z� S 991..flZ? ��. � ,� � , � � OnJes3gnnCed Fund Oalance � , Beglnning of Year -.luly 1, 1981 $ y82�571 ! . �_ as prevlously reported . S 772.571 $ 110�000 ; Ad]uslmen[5 �� Transfcr oF Long Reacl� Blvd. . ,�:�.: . . ProJect l/ablll[y to [he I f.eceral Loug-Term De6C , 4_2�1ll � � ' � Croup af Accoun[s 425,117 __ ' � ��' . -' ' Beglnning of Year - July 1,1981 � � S 907,GBB . � � " , es restated S 797.688 - . S 110,000 ; � Ezcess of Rcvenves Over � . � 1Y2 p�� . .� ' (Under) Expendl[ures � 57 . 6 �'`�� -'-' . � � ' End of Year -.lune 70, 1982 : �, ' S 9�-.Z42 S 1Z4.23o S] �zv..tc3 '' '�1 (Schedule 1) --_ . , .. r �, , � ' . , � . � . .. � . . . � . r r � I > ,.. t..:; . - , -: ,, . .. . . . . _ � � , � ^ �. LAIJCE, SOLL b LUNGHARL . , Scnedule 3 CERTIFIED PUBLIC ACCOUNTANTS � LYNWOOD BEDEVELOPMENT AGENCY COMBIh'ING FIIND BALANCE SErET - DEBT SER�TICE FITNDS JUNE 30, 1982 . ALA.*SEDA - A R E A A AREA Tax Tax Revenue Speci.al Revenue A 5 S E T S Fund Fund Fund Total Current Cash in bank $ 449,913 S 139,597 $ 589,510 Cash and investments with fiscal ageat $ 243,721 243,721 Taxes receivable 12,266 12,266 Allowance for uncollectible taxes (12,266) (12,266) Total $ � $ z �i $ l� $ $�Z31 FUND EQUITY Fund Equiry Reserve for special purposes $ 73,002 $ 73,002 Designated for debt service 376,911 $ 243,721 $ 1i0,000 730,632 IIn3esignated (Schedule 4) -0- -0- 29,597 29,597 Total Fund Equity $ 449,913 $ 243,721 $ 139,597 $ 833,231 I Total $ 4 !+2.313 $ 2 �21 S 1�3�2 $ 833, 231 � I - 16 - , _ i � - _ .. ; . . • _ � , • ' � i!"�� '�� ScheJule 4 ' �' � LANCE, SOLL d LUNGIi/�RL ' . � � . ' CCA�III(U P�IBIIC w[COV�u�AN13 � . . . . . . � � LYNU00� REDEVELOCMENT Af.ENCY - � � COIIBINING STATEMENT OF REVENUES, E1(PENDITURES AND CIWiCES IN � � � UNUESIGNA'fED FUND BALANCE - DEBT SEAVICE FUNDS . . � � FOR TIIE F15CAL YEAR ENDHU .)UNE 90, 1982 � � � � � � � � �' � � P R 0 J E C T A R E A A A L A M E D A A R E A __ i � . �I ' TA7( R1iVENIIE FIiN� ' SPECIAL FUND ___ TAA RF.VENUE FUNU I � Verlunce- Varlence- Varlance- . � . Favorable Favorable Pavorablc ��'��• � � . Budget Actual (Unfnvora63e) Budge[ Actual (UnfavoreLle) Bud eg �_ Acfunl (Unlavoroble) � . . Revenuee � ' � !�, Taxee � Secured $ 94,567 S 102,179 $ 7.612 . . , „ - � llnsecured 27,700 24,742 (2,958) , � .' Buslness Snven[ory ]4,277 ]4,278 1 $ 170,000 $ 112,811 S(57,.d9) I . '�- ' Interest � 40,000 74.�88 26.788 S 37,500 $ 25,220 S(12,260) _IB�000 14 17�?�9) i' i �� Total Revenues $ 204,544 S�75,987 $ 31,447 5 37,500 S 25 220 $(1_2 5 188,000 $ 127�04] S(60�95J) 1 ' . � � , F.xpendlwres � ' ' . ' �' Intcrest paymen[s S 124�355 $ 125.955 $(1�600) S 11.000 $ 6�020 $ 4,980 I;� � Dond princlpal retlrements 40,000 40,OG0 -0- �� . . �� 110 110�000 = 0 , � , Loan repaymen[s Total Expendl[ures S 164,355 S 165,955 S S1�_G00) S 121 $�116�020 $ 4�980_ � t ! � Excces of Revenuee Over .>� ( U n d e r) E x p e n d l t u r e s $ 204�544 S 235,987 $ 71�443 $Q 26,855) $(140�7J5) :(1].890) S 67,000 S 11�023 $(55,977) i `., i � OlLer Flnancing Sources (Uses) 762 617 � '� �� Opera[ing Transfere ln (a�t) , (162,617) _+_-- ; � i • _', � :� � @acees of Revenues und � . . � , . . � O[Lcr Sources Over ' � } (Under) H%rCfldiCuf¢6 � and Other Usee S 3Q4�554 S_Z3.129 S 11�541 S(13�.$51`) S.31'flQ3 S(1LQB9) 5_�L449 5_11 Q23 $(S`z..4Z2) i ' � I � � . . � _ Undeslgna[ed YunJ Balance � , i � Beglnning o( Sear - July 1, 1981 - $ 46�G7U ' , .� �. � � as previously reported . S 307,541 . S ZZ��B�9 , i � { : � pd]ustmen[s 81,904 i'�, 7^ : , , Yrlo[ yenr [axes . � � Beglnning ot Ycar - July I, 1981 - ZZl�e�y $]28,574 . � ' ns restated � $ 303,541 S . ' � � Excess of Revenucs and . OcLer Sourcea� Over . �� (llnder) ExpenJl[ures , � , . , ` � 77.370 21.882 11,023 - � and Ochcr Uses � - (776.911) (243�721) (110�000) . � R - . ' Dcsignn[ed for I)eht SeCVlce. � .. . i, F.nJ nf Year - Junc 70, 1982 —� __ _ S _ $ Iy..S_9.Z . �". '.. .�_ `�� (Schedulc 3) i i = . ..,. i � ; : , ;: , . , e . Y : ..: � ... : . . : �." - ' ' '' '. � ' . . . -... _. - ... -. ' .. � _ _ ��. � - .' •. . . _ ._- . .. . . ... � . , . ...<_�.�� _ _ .�u. . '� LANCE. SOLL b LUNGHAR � � f S �_ chedule 4 ' •CERTIFIE�PUBUCACCDUNTANTS - �wnt�nUed� LYNWOOD REDEVELOPMENT AGENCY .` -� CO?�INING STAT�*i:NT OF REVENUES, ESPENDIT'J�S Aiv'D CHANGES IN UNDESIGNATED FUND BALANCE - DEBT SERVICE FTJNDS FOR TIiE FZSG4L YEAR Er'DED NNE 30, 1982 T 0 T A L Variance- ' - Favorable Budget Actual (Unfavorahle) Revenues Taxes Secured $ 94,5'67 $ 102,179 $ 7,612 Unsecured 27,700 24,742 (2,958) I Business inventory 204,277 147,089 (57,�88�) Interest 103,SD0 1i4,240 10, Tota1 Revenues $ 430,0/+4 $ 388,250 S(41,794) Expenditures ' Interest payments $ 135,355 $ 131,9i5 $ 3,380 Bond principal retirements 40,000 40,000 -0- Loan repayments 110,000 110,000 -0- Total Expenditures $ 285,355 S 281,475 $ 3,380 Excess of Revenues Over (Linder) Expenditures 144,689 $ 106,275 $(38,414) Other Financing.Sou:ces (Uses) Operating Transfers (Out) -a- Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses $ 44 $ 106,275 $ C38•414) IIndesignated Fund Balance Beginniag of Year - July 1, 1981 - as previously reported $ 572,050 Ad j us�eats Prior year taxes 81,904 Beginning of Year - July 1,'1981 - as restated a" 653,954 Fxcess of Recenues and Other Sources Qver (IInder) Expenditures _ and Other Uses 106,275 Designated for Debt Service (Z30,632) End of Year - June 30, 1982 (Schedule 3) $ 24•597 _ 18 - I , ,.. . . _� _. {, _ ..: -. `' = .. -: . . : _ -. _ . , � .... .: :,: , . :. _. ..__. . _.... . .:.. . .. . _. . .. _ � , LANCE, SOLL & LUNGHARi� � Schedule 5 CERTIftED PUb�ICnCCOUHTnNTS � LYNWOOD REDEGELOPMENT AGENCY . iEGAL CD?SPLIANCE PRESENTATION FUND BALANCE SHEET' - SPECIAL FCTh'D JU2�E 30, 1982 - To tal Special Reserve Interest Principal Special A S S E T S Fund Fund Fcnd Fund Fund Cash and investments with Fiscal Agent $ 103,508 $ 140,213 � � $ 243,721 F[TATD EQUITY Fund Eauity Designated for Debt Service $ 103,508 $ 140,213 $ 243,721 Undesignated (Schedule 6) -0- -0- -0- -0- -0- Total ,�nd J Equity $ 103,508 $ 140,213 -0- _ -0- $ 243,721 I i To tal $ 143�.4$ �$ L4 SL313 � =4- S z � — _9— _ �� - ;.: - � _ � �`. . . � - ' ` --. : Lf�NCE, SOLL b LUNGHAfZ� Schedule 6 - CERTIFIED PUBLIC 4CCDUNTGNTS LYNWOOD RED�LOP.*�t.'T AGENCY LEGAL COMPLIANCE FRESENTATION STATE.'L�I�T OF RE�.%nNUES, EXPENDITURES AATD C'3ANGES IN � UNDESIGNATED FUND BALANCE - SPECIAL FUND FOR THE FISCAI, YEAR ENDED JUNE 3G, 1982 , To tal Special Reserve Interest Principal Special "" '" Fund Fund Fund Fund Fund Revenues Interest $ 3,368 $ 20,328 $ 1,524 $ 25,220 Expenditures Znterest payments $ 125,455 $ 125,955 � Bond priacipal retirea�ents $ 4D,000 40,000 Total Expenditures $ 125,455 $ 40,000 $ 165,955 F�ccess of Revenues Over (Under) Ex- � penditures $ 3,368 $ 20,328 $(124,431) $(40,000) $(140,735) Other Financing Souzces _ (Uses) � Opezating Transfers In - I (Out) 78,143 (54,566) 99,040 40,000 162,617 Excess oi Recenues � and Other Sources i Over (Under) Ex- penditures aad Other Uses $ 81,511 $ (34,238) $ (25,391) -�- $ 21,882 Undesignated'Fund Balance � Seginning of Year - .Iuly 1, 1981 21,997 174,451 25,391 -0- 221,539 Designated for Debt Service ( 103,508 ) ( 140,213 ) ( 243,721 ) End of Year - June 30, 1982 (Schedule 5) _0_ _0_ _� _6_ -0- I � y I _ 20 ' I _-•- ----._.. _�_ _._..— �__......_.— _ .-.---� -- ' - _ �. _ ___ _.��...._ _ _., ... _.__. __ . .____ _._ . _. _. -- ._.. ._ _ -- — --- .- .. s • _�� - CITY QF �Y��VOOD �- �� ` 11330 BULLIS ROAD �.: � � � LYNWOOD. CALIFORNIA 90262 (213) 537�0800 -� - . . � ' ➢A41. 1L. RZ .C"�eJAPI '_ City Treasurer _. �.`� i�;;i 28 October I982 Lymrood City Cauncil 11330 Bullis �oad Citp AAII Lynxood, Ca. 90262 _ Shb ject:- Treasurer's Travel k 3ieetings _ Gentlemea: - Pursuant to your decisioa (taken during the City Treasurer's requeat on the raconaideration of the elimination oP the City Treasurer's Travel bc Meeting Budget requirementa during the I.982/83 �dget meeting) to reqaire the City Treasurer to requeat yoar approval oY each soeciPic nseting, conference, luncheon and/or training seasion. It 3s, theraYore, rewested your approval oP Travel ead bieeting Por November 10th 1982 CaliYoraie �nicipal Treasarers Aasociation (�,�9 Div. 2) Iunoheon Mee;,ing to be held at the Long Beach hiariaa Hyatt louse Hotel Por the approa- imate AmrnlT.t oY $20.00. This Ct�TPa Iuncheon meeting eri.11 be conducted bp the Host City Treasurer (Long Beach) 77arren Heiatand and featuring the prinaipal Soeaker, 8oy Nelson, �blic F�nds Director oY IWperial i.lini.cipel Services Groua on tha subject oP "�TIF'iCATiS 0� zxr^,TIC�'ATION^ p]yis a revisw oP the cuurrent conditione. Inasmich as �st of the ma�or Financiel organizations and Top Banking OYPicisls will be there in attendance, it would be benePicial Yor oar City to also be in attendance. �ncerely �GYil� 7�/ �yrest�,-i n�v� 1a. FuC�„tata City Treasurer - ' - z^�'-� - .-t---�• ,I � - ` �. � I , _. .. . - _ ;l - -, . . -. , - . __ , • ,. ..: - _ : .... .. . ,_ .. _ . , _. ,.. : _ - . _ ; -` . _ : . . . ., _.. ;r �: - . . ..,. ,.. . ... . °,. . . _ __ ..... .. .. _ _ .._ ... - . . . .. , .. .-. _ . _ . _ , _ _.. ,. . i AG��.Ir�A IT�''..I�l ... �.'� _ 1 5 ` `. i : _ _ . _ _ ^ _ . _ . , � . _ . .. ., :: ;:, ----- . o�„E�,��_ . �� I � I11i1HI11VlIONU11UN11S I • {-�-� 0' � - 1 �INE � � O�TE Af�ERfNCE I S�ffGV�lip AMOUNI I t0 WHOM IS4UED I 1,� 1 W � j, � �'iK Uv1i�l O I I Pn �� ' � I I OVlt�v � . . . i . . . ' ' '�� . I � ' ` � � . ' ' . � ` ' � ' � \ ' I � � ,. i . . -- _--_ _ j . ' . � f . - ' . . __ ; . . I . . . . . 1 . : . . . .. .. . . - i ; f TuTnLS , - -.. ' � . . I�OOG,3J8.32 TUUAYS . � � -� � � . . . ' — 1 208.282,41` . � � 2 LIATER 63,735.62 , � ' �� 72nFFIC 2G,470,33 ' ' . — " � �H ;.... : . .._. ,.-;._...� . :..,. --.:• . . ... .. ...... . .. � . 5 C7IPITAL IMPROVEMENT 2L'6y223.60" ' . -�` �. " � . . G G�S 7AX 2106 13��91.30 .. . - - -- � -- Ch� T'.YX °v - --� — -- . � U GAR�GE . 11,66�,73 . ' � 9 RE7IRENE�lT 3�45G.4y � � ----f-i-f:-EVfMtiF4kAR-kti5-99 � 5 1 - , � ,. - . � . r ;.;. �. . - . :: :,: � ., .: _. : .. , . : . � . . . 16 UFF; OF 7RAFFIC SAFETY . 2�513.61 ' ' . �. •� . '� 1) FEUER/1L IOdY SAFE7Y ACT 114�(i71,70 ' � � , . � . � , . � . . .--- �i -- 3��. - s' --� - � � I . � 23 SELf lilSUliA1JCE 65,740:89 � ' 24 RECaInTIUI�I GR�IJT Sf3 174 2;,30G.35 i --1�� - . . ., , . . .�. . . . :.�..,,. �..��;� .-.� �.�:,,,.:,....,��.�..;-.�•-..� ..: - �; 29 SPECIAL GCAIJTS 50i572�64 � � . � ' � � . i __ 31 TRAIJSPpRTAT1Uld 4,5 .,1,353,A3J�. - _ _ -- —s�-trct,osenre-r+�rrrrc-nnr.c� �;1°9 �'; .� i .� 43 ELECTRIt V[HICLE 49.G5 � . I . . . . ,. . „ , , i I _ — �— � ,. � ' I� Cj --- - f . - 1 6 � y _ _ -- I ,. -- --- --------------------- --_---------------------------------- -------- I �. , � � , . _-- s i 1. rr�� e,� �� i.,� d,�,n �,.��i,. n i i�� .i n.,..�i,.r:, �, i,i„�n� � i i�. i, .. r� n��., i i �� .� ,,,�i„r.,�, ,.�„ d�i, ,�i,,.�.,� i� n,� c.� , � d i . . rr,d �o,. n�.,��i �., m�. c��., i, �� . �„i d,�,n � �,�,� �� ....ri,..i <„�., n,..,. �i a, ,, e i i,. c� < ,i i. ,.,, i. , i r„ i.„,d i,� i,i o � �i,. jnd d, o i p i,� L� , . „I.. �NOVrmbci iv PZ ,,,.i �� .�.I �,. �i. ioib,-.,� .�i, ° y ' .. •—. _ _' ' ' '_ `_ } ' ' _ . . _ 'i�i 1 : . . _ � . NO. � MVN111 Vf . ' . . . . , . .. �. '' ' � . ` . . , ' .._.�.... UISTRIBUlION Of FUNDS Ot11EF NNbS S �� LME .• ' ' .. �ATE � RF.�ERENCE � S�lFC.IIA!!D .� PMOU� . LO WHOM ISSVEI> �. 2.Eq '�. lGV�iNG O M1l.�v COO[ auOUHf �� . � " � � � _�. � ' � ;ccLEnr.�� Uno unrE6 i I'-2-az - � �� . �dnr.aEN7, �: ° t5,4o7 - .. . . � ' ��`. i ' � - .. : - ' . . . . � .. , . . . : � . �. - . � �.-� . ,- _-_- � , . � . .. . . � - . .. . , .. , . � . . . . . , . , , � � _ . � 11-2-32 15,407 P1�PnIb240,935,G9, SNERIeF�S UseT 24b�935.F9 " � 11-2-3Z '_ 15 �403 PREPAIb 41;t93.50 P E P, S ___ _ 2Et�145.40 2{97i3:32 2�113:24 215.00_. • £1 i3Z9:31 ; .. . , �' - . . ---- ' . . � . ' . .. . 3r . � i ` �' . .': 27 2r595.55 � . , � . �. ' .. ' < . �` � . , . � . ' . � .31 2G6�.83 � � . . I. ..l . �� -� � . .. � � .' . .. , � . . . � . .:. . . � . . � - 3 - 1�i3��1� . - '. -1, � ° - �11-2-;;2 � 15,403 pREpAib � 4]5.00 HAROLD C W(LLIAh�S � � � 415.00 � � � � 11 15�410 PREPA2D G,251.G8 EIiFLUVEE DE J, DEP7. ',4, 1�4,48. 513.7 4 97.99 47, 48 - il 201.5� .. _ - -_. ._ --- 2 - � - - - �Yi - . - .°,i - , --- 33 247.57 ` - II-Z-�2 15�411 PREPAID 140,00 C11, FNIIIC[Pt1L TREASURERS 140,00. '.� 31 36.55 . � � • .--}i-p-$�--t5i��1��R�fA3-B .. , 1�+ 5" i3 . . . - - � � . . � 2/ 9,527.Sa .. � . . . � . � � 31 1,05�.00 -�_ - - ----- -- 4 � h07�2 �� - � II-2-32 15 13 1,201,20 ACCUUIJTANTS OVERLUAD 1�201,2U . .� .� . 11-�2-ki2 1y�41�4 - . 3�2y0,42 AUVAIJCED It9AGE SYSTEHS .. Z7 3 � � � - � r � 9�T�59_�" _ . ,. , . . . . . . ": 1�-2-32 . 15�416 339:45 l�LL A�IIERICAI! UI�IFURM ' S0 75.50 83,80 � �� 8 11G.55 � � �-IJ�--7r82.-15-�4�17- . �- ' 1- c �00-A6l-fit1ER-E-6AN-kltl�LF��RI �1-- � -----�--�1.-OU . � � ' 33 13. 20 . ( �. �'� �- 11-2-P2 15,47.fl � 87.R0 RMP•,HICAN FAMILY LIFF. � . 23 � 87.80 , 11-2-�82 � 15�419 4�6,86,OA 7\NGELUS PENCE CO 23 4�Gi;G,00 � I tl-'-C2 -- 1„ 4zo 410.17 AT-LYN CFFICE SUvPLY ` t0.lj - , � , �11 2-D2 � FS,k21 II4L',00 6CL ASSOCIATES� INC � 840,00 . � �1 -?-5�--�5_�922-_ �2..&5-IiA�ViFLGtJ_A?P_�QL�IUS_B,�CA� _�2:�5__-_� - II 2-32 15�423 103.13 A G RARSTUIJ C0� fiJC �103.13 � 11-2-32 � t;i424 15.Oi� YOLAtlDA 6AYS 15.01� . , 1I-z-£3z -- ]}�`r24� JS �I- iJ` - � � , . . � . 11-2'Q2 t5;425 ' I5 ,00 YQlANDA OAYS " -''.: .."�t5.�� . .. . . .. � � � .�11-2:-�2 15,426 74.U4 6EEPER IiARKETIfJG . � 27 74.04 _IL-Zff2_-IS-i42Z- L4El:.��f3lllE_[)lAt�flIl�fAiER.l�LS-- -- ' 148 04 z7 9II.7u j I I-2-'::2 15,422 � )3,7v RAl1DY 60RTOP) . . - � II-2-B2 15�429 232.53 �3ULLARO SAFETY � 232.;3 � � � ` 11-2-G2 � IS.�O 100 00 �OHII�}YaRY . . .. 100 00 . - . . . . 11-2-32 �5,431. 214,yGO, C.��.P: FUIJO . .. _ 6 12,741.30 7 A,202.23 1L! .Z_ZD . � --- -------- - --- . � � � 21 II 3,6oL.5� - . -- - 24 25.30G.3� . 29 S o1� 7?� 6 � 11-7-°2 15�43z 46,45�.44 c-v oisrasAl, sEaVICE; frl 46,45f�.44 . . � i 11-2-�2 � ISr433 � :17.�c DLPT OF JUSTICE � � , ' . . 2]_. 2j0.00 .. _ ' � ` . �,�.I�z-S2--l.�t4�4-- �GQ.DO-REGEUIS_llE-lll11JL._l1LCAU . 9U-.00_ � _ -- . � - h .. � � ' II-7.-�2 � lir�i3� � Y0,00 REiiEilTS UF Ui�IV. UF CALI . `)O.OU . . . ' Ii-2-32 15;��3� 33,�G'�,� CEiiiltnL ��SIIJ I�UiIICIPl1L :3,368,34 g 3G7.77 11_7_ 1�._y37 a;7 77 cEQI4;llUl_I.�LL'JYS�_R_�SEA IP-2-E2 15i433 - 311.75 CLlIl1CAL LAL' OF SAl! 6ER1! 311J5 � � � '� 11-Z-�7. � - 1 i��3`) . � 135.5'� CUl15T UUUR CG� lilf. t35.50 -- . . ' '. .;,. ..• . • � II-2-.,7 __15��r40-----'--_:5� - u _GllUfATH _ ' _ SoJ.2f, . . � � - - , , • . � i1-2�-':1 1��ilil � � 1�3.�3 C`JI lU! 61:U� �SP��TL�� Gu�i -�-------'-----'-- � � �� . . ' ' �' ---- - - . . . -. � _ . _ _ _ . --- - _ . _ . .. w - .�.' �. S� 2� II iih C�yd L 1 II �.nl�i��tl. I�r lil Ir 1 I II II.�1 �IV I�.��n lo �� II .� �� - :.�� J .rfuy S . . ', ,.... � _ -. . � . d.l r u<. rrlir I cnPy �h�. col in il c C�iy O� � avn d I J. II r.i.�i �� .rrnd�� d� u� v il �.,, ol . _ C �. �I 1�. C�v o l 1� n u1 ,. � I n .�,�.. i i tl I I I,I n tl •I duy o� , �. ;` 1 " -..- ._ _.__ _ ._�._ � Nov�mLr� . in9�7 ,,,,.i„��.. � _ .� • 1,V. • ' I`-", �„ - - � . � OISiFIBUTION�OF.fUN05 • 01HEH FUN05 - . . ' +' ��TE . REFERENC� 5/�F(;GU�RO � OMOl1NT� 10 WIIOM ISSUF.b � 2. �q�� virnl wMOVn� ��NE � � ♦�, 1 � 5�lEi OV1lwv PflOOF ; �.. ' ,: . . ° �1 I -2 u2 15 � 442 �� _ . � 57.32. CULUGAN � ,.32 . - . � � . � � . . + 11-2-'2 �. � 15,4�+3 ". ' '. �686.y3 DESIGid SPACE �I17TERIJATIOIJ � 57 .. 57G:flE1 ' 0 110�.05 � - � • ..� �� . . 1S � ' ` '`�-ci�-.�o SERVICE.. . .. . 8�9G-.-8 � � � ,,5 11.-2-i�2 15e��45 ' 1�173.47 li. U. OIOtJ 8 SONS . l"• " . p � - 1;173.4 � � � � JI-2-G2 .� t5i446 . 15.00 DUI!(1LD UUVE � � � 15.00 � . . . .:� F . - �1182-�� . � 'G9-r79=Et�G€17BtJt- . . - .•. , � �. . �� - c . -�11-2-&2 - .15�44U. .�54S�.56 ELECTRICAL OISTRI6UTERS 545.Sb � - � �� ' � �� . , . I I-Z'-E;2 � 15.449 �7J.64 �ELItER' S LAWI! Ii�WER & SAtJ � � � � � � 33 � 77.64 � � . . �-. '�. . ��-�-�Z �Lir4-50 " � �42r�1J+--E4TEIUINIfd-RUVI�! CO 42 �� . . . �- . .. ' �� ' , II-2-L2 _15�451 � � � I5.00 �f3ET7E ESPESEIH. �. :." .�`-�I5.00 , ".`... ` .` �.. � "�' � . ��' . � � � � 11-2-f32 '. 15�452 �� - �. � . 100.00 h1ARtIlA ESTRADA �" . - 100�00 � � - � " ` . � � � -_t_L-2-92.--�-��!��? �-7�-.-13-�kt,-E--CeR?-HRA�1-9N �� ' -.� �.7.�.-1� � � � � - _ .. -. .. 11-2-32. 15�454 - - . I5.00 A. ApN FI[LDS . I5.00 - � . ; :. �.� �I1-2-fl2 � 15,4i5 .�. .. 75.00 6AR611RA FIKEL M ' 75.�0 4 - . . . .. �� , t�_�-P� 1 5s-�� lOp�-02 rov nEFICE PRODUCTS 2� ;1 � - 27 -n:�.71 .. � . � 11-2-U2 15,457 � - : 29�241;27 GARAGE FUND � � � . •'�t� 602;48 3; 69,39 9,851.75 - �917:24�� 8 309,E}3 ' .� 27 645.9z .. , � ' . ' It-2-32 15,45J ----- 149�I60.26 GENERAL FUtdO � . �1�7.05 12 8y,a13.�12� . 23 59,55�.09 ' � - � 2�- 72•_^D-- � . � �11�-2-82 � 15�459 � 2£30,00 CIIAR�ES GUMEZ � �`2IIO,C�O � � � � � �� . � . � I I-2-32 - 15,4c;0 � � 103,51 CIIARLES GOffEZ � �- � 103�51 . - � � � � - � . - � _-LL-Z82_IS_,46.L_ � LQ0...00_EUGEIIE_Gf3EEN-_._'_ �_..__.-].0�,9D • ' 11-2-�2 15,4G2 . 8II,55 HAI111ER SEGURITY SERVICE 88,55 � � 11-2-G2 1.,463 149.29 C, IIAYII�N CO IhlC g �qg,29 , � � _1_�-$��1 159_!�_�H�JAY CIf.W 8 StIPPLY CO 159 41 . � ' 1�-2-�2 � 15�4G5 � � 40.00 PHRIP NIIJSHAW �' � �' �� ., . ' .. -. � 27 � 40.00 � ' .. i1-2-32 15�4GG I5.00 PRhIJi: HIPlZE . :��.. 15.00 � - • .. . -1�-2-�1z J5_,4�Z_ 1 35_�2�_ANQQEA_i_LWOP_E(i 135.28 � II-2-32 15,4G3 . 2y9,00 CITY OF LYNlJOUD� ! ' ' 11-2-62� IS 45.00 IP1�1A 4 5.00 � � . 27 2yy.00 . � � � 11-2-3 (j �_ 59 76 ti106PEfJ0�lET PRESS T IF�'2 � S9.i6. � � ' , '. . .. II-2-t32 � 15��+71 . . ' . 10.10 ttJSTA GRIAPIIIC SYSIENS � -- �`:�' 10.10 . . . .. .. . � ,.. . . --� . . � � , I � 11-Z-E;2 . 15�472 � ' 8�300,U0 KEYSER 11ARSTON ASSOCIATE ��$�300,00 � � � . ' �.L 39k3..52_GEYSSLI�E_E17R➢ __9_.__-346.52 . .. ' 11-2-G2 15,474 15.00 EDIlA Y.tilllEY 15.00 � � � � � 11-2-82 15,475 � � 115.37 RIRST PUIIP 8 IIALHIIJE IJOR 115.II7 � �� _ II-2-82 � 15,476 6� 02 YIIAPP cHUES - � 27 6G,02 . . " �. � II-2-32 t5,477 � 753.02 LAIi(3ERT ifiANSf1[SSlOMS � .. . ... 8 758.02 � . . �. II-2-C2 1i�47`J , 22.26 RUNAID LATtIROPE 22.26 . . � . . __lJ-z-�__IS_..4ZJ -----_43.3CL.L41ii�ll_�R1NILfIG,_IfJC q3�3_G__ . �. I1-2-:;2 15.4J0 .. 1$.00 ARIIOLO U TRE I5.00 . . , " � 11-2-82� 15�4J1 . � � .I5.�0 Dl1VIU IITSIIiGER 15.00 . . . .. • ��' t1-�-�,2. �; 4„� v,n .IIp._�n� nr� LFC CII Ei�i� rn i4n nn -� � � .. '� ' � . � d1-2-32 1;,4J3 � � 261,.93 UFf"ICE OF ASSESSOR � � 261.93' . � � � ' '- . '. 11-2-�Z. IS,h;34 � . . . 16 L.A. CO!JflTY ENGIflEER � 16.75 . ' - � � � . ' �.-LL- � ,. - � � P1-2-U2 �' 15�4:;6 � j2�,y2 LYN4IUOU CATTERY IIfG CU ll 32:;.92 • ' -� � ,�� ' .. II-2-;;2. 15,437 - . 1�,40�,00 ClTY UF LYIIIdUU� - 1,409,U0 . ' � . � _ t1-2-,;2 �.�.!�.,>,;_- �+5�:.1i_LYllWI1L0._P1iFSS . f+7F �� 1ti,IlQ__ II-2-ll2 15,48'i 1,370,96 N 8 11 TRUCK PARTS, tilG 8 1,370.y6 � - � � 11-2-J2 15 '�. . 96.45 1.1l1C TOUIS . ' � � � � 8 96.��5 � �. • 1.L-Zr.'vZ _.:.IS. 4J1----,---Z9G.50__tJ�L'_S._RAUTAICIR.SERYLCE-----_------- ----------- (�-29_�54� �. . I!-2' 2 � ?;,h"Z � 5!r.5'} .(ICL`CII�LO'S EOUIPi1Ct1T, IL'�� 38,45 . � --- . i,.13 . . :;i . � �i1_z_.^,? � }��f�q? . 15.G0 CICII�?U IICtlIEL 15.00 . ' ' ---- - � � _ . - -- - -. . . . - - . -"- - - ---- . . 5 ]� 11�� ib, �i CI L I II .rly 1 tl I pi I�il 1 i I I, II 1 b. � ± � . , . . . . . . � � 1 y . .I rb.vi �I I 1 1 � .. � � � I i' n dviy ndn!'��.d bv ihr C��y . • . ' del ced?',.dm�ry An..d�� il,, lly L�nv, I.I �II r�in rr�l tl�. . . ,,,. � , Z Ot7 � . . �. � . � � ,� � . I.,..P .��. A C.�. , d' <� L r: �v ul 1 � 1 i 1 .r� � tl . . I i .Id o � �6� d�ry ol �. _ , _ . ; . ._ . .. . . . .r � �. � . . _ ,: �' ' I� I i� �.,� r�m�ai.L ' . . � . _ . . , ' . . ' Novr .�o. :092 . . i ��..,.,i „ n, ..i „_�,,,., .... . li : . . . .. " :,- . �.. ' •' . . . . � coo �vn�Ei,r�uu � , . ,� I '� I .. � . � . . . ' . � . • � � oi l� i 1 m n ��.nnc ,• urrtn� . M w. vn�aor ' '_ Q 1 � OITF RflERENCE EGVRIIO AIAOUNt �() WH(JM ISSUFp � 2 q 5 t [NCn�� l � . � . .11-2-C2 - JS�.�F94 . � ' � G0.45 I�OPIRUE.. . -� . : c 40,45 � -- 27� - 2II:00 . � . .�,. �` �.; ..� ' �.11-2-�£:2� 15��4 :.,. -. ,.� 34.38•E. L.��NOttRIS� -- ' 94.33 .' .� �.. ' � � � � � . �- � �. i. � ... . . L q ' ' . ., .. --- � _ . � _ ' .... ' .: . . .. ., .. � - EiZ: roRtrts�- ;' t1-2-�_ 15,497 63.A0 L�UttA IIORRIS A 63:00 ` i� ' , 11-2 �� 15, �.3 � � �� - 79.02 IIULSCU COFl7ROLS ItlC � . . 79.02 . , � � . . �� i ' �f=z=8� �37 --T3� ob ; . 135.;00 -'-' -- --------� : � � , I1-2-�2 ISii00 � . � 2 OPTII�IAL DATI! CORPORAT(Ohl 2�023.00 � . ;. � .' -� ��: � '11^2-G2� - 15,501 , 700,3G PACIFIC TELEPIiONE _ , '.27II,II0 2�O,E3 170.73 � - _ - � . �, ' � , ' �, , . . ..� . �: � � � .�- . STIA ,. -. , „-. _ . . . , . � � . . � . . j' � . 11-2-82� ��5,503� 1�251.27 ��PAR: PRESS flUS111ESS FORIIS ' � 1i151�:27 °. . . � . � . . , . . II-2-II2 �. 15,504 � 55.00 PAT'S TIRE SERVICE ' � � ' � 8� ' S5.00 . , . .. '�T=2 �Z__ 27�,37 � �� i�7�.,L39 � -- � 11-2-�2 �15 207.49 PREIITICE-IIALL� IIJC 207.4y - ` ' �� ' I1-2-B2 � )5,507 �� y4.G3 PUItDEIlTIAL UVERAII SUPPL . y4,63 � � ' .. . ' �, - 11� - =T� -- i �S' PRDIItit�lTliC�V ... � _ � .., : � . - � . .s . ... . � . - . . � , - . -� il-2-fi2 iSrS;l� . - . � �92.E$ FRWEi:TIALOVERALL SUPPLV .. 92.65 �.. . . • • � � . . . �� II-L-JZ 15,50) � . 15��00 RUY PRYOR . � .� �� 15.00 'y -- � � � . � . ' '.�1=T=8� - �iG��AP1U - PUu'LlSttiT,G --- � ----� - 72:3�� -"-- � "9 F53:-Ra .. '� 11-2-�2 15�511 15.UU EUGEiiE RIIYIIUHD � 15.00 . ' � " � � � 11-2�-;� 15�512 � � 15,00 L1i�LTER REAU I5.00 � � � . " ' ' � �� - � . � . , -.� . , � -8 100r1ti3 . � " 11-2-C2 � �IS�S14 � IS.�� VIRGINIA ROBDINS � -� ��15.00 ... . � . � . - . ' � � 11-2-82 15�515 � °. IOO.VO JA19ES E RUblF - � 100�00 � ., . _ � � . . . �. �1=Z=�Z � � -� � €sfl:�0 - -- ----------� ..- 11-2-�2 ISi517 25.00 TIIE SACRIAHENiU tJEWSLETTE � 25.00 � � �. .- 11-2-C2 15r51� � 5,057.33 SEARS RUOFIWG SERVICE Sr057.33 � �'. � ' - Yi� = 82 � � � :L...� . . . ._. . , ._ . . .. . . . .. � ' ' ��Ii-2-82 15,52U ' 1�013.42 SUUT11 GATE WHOLESALE E�E . 812.79 ��. � � ' ' .-, 33 ,.200,63 , ' . � i1-2-32 15,521 � ' 7,903.5� SOUTIIEAST ANR�tAL CONTROL '.7i903.50 '" . .- - - . � � : • � " - 77-T-�°o2 - 1 - 5:522 - k�2 - S�UTtt€7c5'f - SPt)IYT�S -- CEitfiL - T'. -- hh�:�53 . � �- , i1-2-82 I5,523 � �5,9JO,Sd SUU7HERN CALfF, EO[SOi� C 5�596.06 8,165.12 2,030.64 4,50 8 16,45 i , - � �. 33 �GU.OU . ' - - 11=2 - =Y32 - 1 - Y5'Y{r ------ Yf3:66 -- �StJtti�NERN� - C - kt�tF; GATCB.., ..�,--"�0:�6 . . . 82 , , , ,,,, _.: 8 39.)3 i . , , .. � - �I-2-82 1�5,525 � � �89,38. SPARKLETiS " �� . .'. 43 49.65 � � � I. .. . i � S�OQ �. � . . j . . ��11-2-32 15,527 2I4,490,74 STE119Y & CO INC 214,490,74 ' � }l-2-II2 15,528 131.61 STOOpARD Ca 106.4f3 33 25.13 - � - tt=2_f;Y -- 1��25 - - - 37h6 - 2 - : - �I� - � - `sfiRt+�t�}itG7 - i`0 . - � . . 11-2-:52 15,530 � 30.00 TRW -. � ' 27 30.00 �, � . " ' 11-2-32 � 15,531 � " 671:17 T�YLOR-JE7T CO . 87f.t7 , '. . � � -t1=� 1":;�53� � . . . • � ' �� I1-2-OZ tir53i 15.G0 JO EVELYII TERREL IS.00 � � ' " �� II-2-C2 1;,;34 � � 433.30 7ExnCO, IIJC � £1 43^,30 .. _ �i .. . � . �� . .I1-2-32 � �� 15 - 450,00 TOAll011'S �niaoscnrl�ic� - � 450 ,00 � . ; ' � . . . � � 1�i-2 -L'2 i5,537 � 3.,313.f) TRAFFIC FU�IU . , . . 6 350.00 " � . . ' . � --------� ---� . -----------------�-� --------------�• - =i -- � - h5Pr93 -- � - , . _ ; . . .. . - . � t, 2,513.�11 . .. _ _ . � � 11-2-J2 15,537 � - 154.32 TRAFFtC ti�i;ll,C�tEl1T S Y S iE . 154.32 ' . . . �� tY0�9 5; t-�B69-:98 --'--- -- ��I I-1-F32 �� Ii„4u 27G.G6 VAIJIER GRAPf�11CS .CURPURAT 27G.GG � �.I I-2-f.z� i5,'Sht . � 3,5oo.uo vEr[rAns III cul�i�lU;llTV sE - 27 3„00,00 �... � .��" '�T �=�2 OJ ICL� Yi;�L �t'. - ------- - � - 1�5�cOB - - -- . '--- � - ' _ v .. ' ,� �"' 11-2-..2. I.Sr�.7 � 7��.'�d 1JI116.Li1 o�Rlili�5 C F(F(i GU `� , ' " 1 " G; � � I ' � ' � .. � .. . . . - . . . ^. ' .- _- ___'___-____-___.__ ._.._..__. __._.__:..__.. _ _____ _._. _.__ .,--__ _ :,� ' . �, . 5 I l� 16.�i �Lr Cny CI L vl II � rly i. tl� I ��o, r,i Ihr �e. 1 i , r��J .I II .. .1 L.�I � i1.� �4.m n. I 11 � .�- ...I i I l � 1„picJ I'Y ih� C�y -- .. - ' dul n crn L�d co � 16ercol �o Ihc Cli 6r n n i 1 J� II r �' <<r�rl' . 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' . . . � ! � �.. . ,. :. � .11-2-A7'� 15i282`: �. . � �125.00- SAFECO _VU10<. . . • . 27 125.00-'�� _ `I . . .. -----: . ----. . -- , . . -- -- --- � — . . i . ,! � � ' ' . . ' - . . . . . . , � . . � , , ,. _ ._ . � . . ,,, .. . •,. >- .� :,. ,,�:�.. �-•� .. . . . . _ . . . ,�... �. . .. . ,. . .. ... � ' ` �" . . " . - � � . . . , ; , ' . t . ,.. � .. . . :. . . � . r . , . . � . '.. ` . � .. , . - ' . �. ..� . ' � . . ., , �:,�; :. . -> ._... . , . . . . . . . . : � , . : ,, ., , , �� , ,�: � � � � � - � . .. — _— — �— � � 1 . � '.. .. . . � . . . . ' . _. . . , : . . I , .� : , � � ` .. � . .. . . ' ' � , � - � ' - � �i I _ — _— — —_ ' - . • i - I - � �. . '_—__"—_'�___—__� . -. .. .. . . .. ' � .. - , � ; :. - . ., . . . . .. . �, . .. . � � , .. � , . . I ----- � — _ � . . ' . . . : .. . . � . . I, , . � ' ' . . . . . � ' � . . . , .. ..... . : :, ..,. ., . :. . - ,,; ._ . . . . . � i . .. . . . . . . ' . , . - i. . � . ' � , . ' . � i � d, " , —'___' _____ _. _'—'_—__ _— ---___""_"__ --__ --_—'__---_ . . _ .— . � � . . . ' . ' . . ' .. - � . . ' _ . . . ' � � � i�. . . __ — . _ — _ ' _ . _ _ . . . -. '—__ _'__ _ . , . ' S ct 7�. ❑�i tl C�y CI A h II <. i1 �.� tl. I �r I J ��..el f ,J .hnll � I I-. �I � iv �L�� tl. 1 .. I 1 i � .�I r W�r a l idr� tic C�'y � . ..... Jcry �. a�c 1'f�,l < Py tl..�..a h il � C iy�i�:.n o.r ��,d J�� 0�.i - �.rl . 1. � v i6�.,�.,,1 . C„ �� .I ul 1.�. Cn � 1 fv -o,d ,� r� i I .,�, u„�� 1. I 1� Id m� n�� d��y ol . 4[ - �. „. .�. .. �.. �h,6�oWi�.,.r�.d,. � . ..� . . �.. . Novrmher.� . �vA?.-, Ip,,.dl . . ._._•-._ � A - ♦ � �. . . . , . - . . '_—_. . o, '_" . � � DATE: NOVEMBER 2, 1982 TO: AONOR_ABLE MAYOR AND MEMBERS OF THE CITY CO�JNCIL , FROM: HAROLD C. WILLIAMS, P.E., DIRECTOR OF PUBLIC WORKS/ �ct� CITY ENGINEER SUBJECT: VACATION f7� ADLE.� STREET (EXHIBIT A) PURPOSE _ To recommend that the City Council adopt a resolution declaring , its intention to vacate and abandon Adley Street, between Imperial Highway and the first alley south of Imperial Highway. , FACTS On October 19, 1982, City Council adopted Resolution No. 82-167, declaring its intention to vacate and abandon the above mentioned street and set tne Public Hearing date for November 2, 1982, •• Due to an error in the scheduling procedure, the minimum waiting period for the Public Hearing could not be attained in accordance ' with Section 8322 of the California Streets and Aighways Code. • ANALYSIS : Based on Section 8322 of the California Streets and Highways Code, the Public Hearing should have been held at least fifteen (15) days after the City Council passed the resolution se±ting the , Public Hearing date. Therefore; a new Public Hearinq date should be set. The•attached.Resolution of Intention provides for a Public Hearing. on the matter on December 7, 1982, at 7:30 P.M., or as soon there-� , after as the matter can be heard as required by Section 8332 of � . the California Streets and Highways Code. RECOMMENDA^ION .That the City Council of the City of Lynwood adopt the attached resolution entitled, "A RESOLUTION OF THE CITY COUNCIL OF THE � CITY OF LYNWOOD DECLARING ITS INTENTION TO VACATE AND ABANDON FOR PUBLIC PURPOSES THAT PORTION OF ADLEY STREET BETWEEN IMPERIAL HIGHWAY AND THE FIRST ALLEY SOUTH OF IMPERIAL HIGHWAY, ; CITY OF LYNWOOD, AS SHOWIQ ON TRACT N0. 14391, P�P.P BOOK 312, PAGES 1 AND 2, RECORDS OF LOS ANGELES COUNTY." �. ; . . , AGENDA ITEM , . . , _ ' . � '. ', 4 � 7 � _ , -- � , � � RESOLUTION NO. � A P,ESOLUTION OF THE CITY COIJi1CIL OF TFiE CITY Or i L�IWOOD, DECLARING ITS INTENTION TO VACP.TE AND f ?:B?NDON FO:� PUBLiC PUFPOSES THP_T PORiION 0?' ADiEY � SrPREET, BETG?EEN INiPERIAL HIGHWAY AND THE FLRST P_LLEY SOJTH OF IMFERIAL HIGHS4AY, CI1^Y OF I;i'NWOOD, AS SHOWN ON T?tACT NO. 14391, �1AP BOOK 312, PAGES 1 AND 2, P.ECORDS OF LOS ANGEI,ES COUNTY. s '- The City Cour.cil o? the Cit}� of Lynwood, California, I herebv resolves and or3ains as follows: SECTION 1 : That portion of Adley Street, between Imperiai Highway and tne first alley south of Imperiai Highway, as show on Tract No. 1?391, Map Bcok 312, Pages 1 an3 2, Records of Los Angeles County, withir the corporate limits of the City of Lynwooa, is uanecessary fo� preser.t or prospective public street purposes and that the public interest, necessity and cer.venience require, and the City ��o;uicil o£ said City hereby declares its intention to vacate and abandon that portion of said street. SECTION 2: That said portion of Adley Stre°t, as above described, being in the City of Lynwoo3, is shown on the official map of the City of Lynwood, at the ofzice of the City Clerk of said City, to which all parties ir.terested are referred for particulars as to the proposed vacatica and abandonment. SECTION 3 : That the City Council elects to proceed in said vacation and abandonr�ent under Section 8300 to 8324, inclusive, of the Streets and Highways Code of the State of California, as amended. SECTION 4: The City Council of the City of Lynwood does hereby determine that the public convenience and necessity require tha£ an 2asement be retained for construction and maintenance of utility iines within tne limits of Adley Street vacation as � described in Section 1. � SECTION 5 : That the City Cierk of the City o� Lynwood is hereby directed to give and post,�.as requi*ed by law, notice of the oassage of this Resolution of Intention, and give therein the 1ega1 description of said street proposed to be vacated and abandoned, and specify the time and plzce of nearing of this Resolution of Intention, which is hereby fixed as follows: The nearinq to be before the City Council of the City of Lynwood, at 11330 Bullis Road, in the City Council Chambers of the City Aall of said City of Lynwood, at the.hour of 7:30 P.M. on December 7, 1982, at which time aad place all persons interested may appear and object or protest to the proposed vacat�on and abandonment of said street. If the C'_ty Council finds from the evidence submitted that the street is unnecessary for present or prospective use, it may make its order vaczting all or part of the street. SECTION 6: This resolution shall take effect immediately uPOn its adoptic n. — PASSED, F.PPROVED ann ADOPTED this day of December, 1982. � LOUIS A. THOMPSON, Mayor City of Lynwood „ ATTEST:" , � ANDREA L. HOOPEk, City Clerk City of Lynwood I —�.. � � RESOLUTION Paae 2 HAROLD C�WILLIAMS, r.E. """- Director of Public WcrY.,s/City Engineer City of Lyr.wood ATTEST AS TO FORM: DAVID ;cEw'EN, City Attorney City of Lynwood f I . . . . . . � I�1�` � � c . jl �, �:�;� i� , � i =�, � _�' �: �x ; � . � �xi �r : � �'- � ° � , •�� U �,\ �.� � i. � 7 � \ �. �; �� -= O :r % , � �,� ' � .� ' "."r1��' p '7 -�_ ,� o , � . �. - ..` � -�.�.. �� i J J= ?_ \� p ' f ! �� ,�� i� � . . . . �,��1 ' " � �CI— m I�1 � � : �. �. a U . ' _f. Jjl-1� n � z 'k ' , : � lo . ' �: _ . � U ' .� . ('' � n � i, �` U � � .;' � �, � . ��: , / "•', � �n ? j ;_ 1 , ,_Z � . l � o � �� i ' ,.� � � \� h ' , � . . ' .., I.i.l � v i.l � � ' . � �� II ,�i �i ��,. � . ° ��: ��'_ f � \ � . , . . � 4 � a 1 , � . - .,`` � � i� • .. E , �r � :� _� , , �� ,,., F i�� ..� k , ! --- "� ` • 1�J !" � r I r tO � ` ' . . i:� ` � �1 V ar. 1. _ �"' :Q� .�y� � � i: � � � � � � .. 'q . ' 1� .h �l` '� ' � ' `� �� f I Y \1� � � , , �, i � � "` X � i iJ — � , ;, ti �i � 111 U. U°�., ��, r,� ; � ' - !£�� , 0 - '�\ J - _i- � i i , _-- --- —_ ,. � m 1 ' (j v o �� p\ �o � �'� • , a � cJ . l��I � i ,' � ' � �" - t"� .o-, e� ^f �� .�r . `j t f' .� � , . � i � �7 v- . / 't ��`,�;r��J �t�tl�i � . . ` ' � � . I M � �� ' � \ , . . \ .� � � � ' 61„ � { 1 �� 1 ♦ �I F• il � � . i � . ' I � ' ,��' p �1,. ; C1 /1 , . �`� � ^, 1 ' � ' t V 1 �� / f � f 1 ' .��t��.. !�� , �J 7�iS� 1 , v � . �t : f ; I � . � � s i0.5 , �o � - � � y; � .�., I ,^ G � ii �� v +� �,'- y\ f.`,� .I /DO p �i� � ' � , ! � °' — /< —_ g� , - O . � ' . � i i . o ( J �c . � !' }j r �, 1� ,�� `� R . � , � _, .,, ' �i , � � � i�, �, , .� . � ,, / .\ i.;[ _� �O �� i� dr _ I � �! .o , Z .� I � ------ _K „ • ,L ; � . 7 2 � �, " 0 � � ; � � - � [.0 ----- ------- `� � nl �� l ' ! I CL " \ �" � � f' * I I `� U � rn in � ,; , �� !.. , � i._ „ � _�___ � I ! .<<� .� ��. �� ---- _ : �• .,,.�� . � � � ~� n, --- - ----- — <-„ ' ._,—__ `-�(� � i -- ._'_.- `n �. , r, ,, } i ' ^ � ti ;, _ s � :�.: ;+1 _ I • � ^)J1j __�_"' i(1 r,�l . 1 ..!'.. , ..'.. ' . : � i / i ( _ � ,. . � � . t . � _._ � — �(7 . . . � , . , � ,..0' _'_ I `` t') ll � . �.. ' . .. � 'll �, 'h , `,�,:�. .... . . . . �� ' � I � � � ORDINA.n7CE N0. AN ORDINANCS OF TAE CITY OF LYNWOOD AMENDIIGG CF3APTER 12 OF THE CODE OF TAE CITY OF LYNWOOD RELATING TO THE SALE, USE AND STORAGE OF SAFE AND SANE FZREWORKS WITHIN THE CITY. � . �.- -••�_ The City Council of the City of Lynwood does ordain as � follows: Section 1. Article II of Chapter 12 of the Code o£ the City of Lynwood is hereby amended as follows: Article II - . .. .. . . _. ._... . � Use and Sale of Safe and Sane Fireworks 12.11 Fireworks - Time for Sale and Discharge of. Safe and Sane Fireworks as defined by Section 12504 of the Health and Safety Code of the State of California may be sold and . discharged within the City of Lynwood during the period beginning at 12:00 c'clock noon on the 28th day of June ending at 12:00 o'clock noon on the 5th day of July each year pursuant• to the provisions o£ this chapter and not otherwise. „__ 12.12 Fireworks - Sale of - License Required. Except as provided herein, no person shall o fer for sale or sell at retzil any fireworks of any kind in said City without naving first applied for and received a City license therefor. 12.13 Applica�ion for a License. Al1 applications £or a City license to sell fireworks shall: (a) be made in writing accompanied by a license fee, Fire Clearance Fee and Cleanup Fe�in the amounts established pursuant to Sections 12, 19, 12.20 and 12.21 respectively. The fees are not for the purpose of revenue but will be used to defray administrative costs. (b) Be made between the first day and the last day of March of each year except when the last day falls on a Saturday or Sunday, the following business day shall be determined to be � the last-day. (c) Set forth the proposed location of the fireworks stand applied for. The stands must be on private property located in "C-1" or heavier industrial or manufacturing zones and must be located on Imperial Highway, Atlantic Boulevard, Long Beach Boulevard, Abbott Road or Century Boulevard. The written permission of the owner of record or lessee must accompany the application. (d) Be accompanied by an assurance that if the license is issued to applicant, applicant shall, at the time of receipt of said license, deliver to tne City Clerk's office certificates of public liubility and property damaye insurance covering the �peration o� the stand and its prenises `_n the amount of $SOO,OOO in the aggregate for the combined single limit bodily injuiry and/or property daxr�age, includiag products liability, certificates designatir.g said City as an additional assured thereunder, and a copy of the requisite permit from the State r^ire Marshal. (e) Include a statement that the applicant agrees to comply strictly with the terms of any license granted to it and furnish any additional information upon reauest of the City Clerk or committee designated by the City Council. ' 12.14 Notice of Grar.ting or Rejectinq of License. Applicants for any such license shall be notified by the City Clerk's office of said City by April 30th o£ the granting or rejection of such application £or a license. s AGEivD.1I3�i�i � /8 i • • 12.15 Pre-Requisites to Issuance of License. The following qualifica:ions must be met by each applicant for a license issued hereun3er; { ��-��- (a) No license shall be issued to any person, firm or corporation except non-profit associations or corporations orgar.ized primarily for civic betterment; you�h activities, sport, military or veterans affairs, charitable or religious purposes. � (b) Each such organization must have its principal and permanent meeting place in the corporate limits of said City,,� must maintain a bona £ide men�be:ship of at least ten (10) � members, ana must have been organized and established in said City's corporate limits for a minimum of one year continuously preceding the filing of the application for the license. (c) No organiza�ion may receive more than one license for �irewor;cs sale during one calendar year. One license may be issued to two or more qua'_ifying appZicants as a joint I venture. The maximun number of licer.ses which may be issuec pursuant to this ordinance during any one calendar year shall -� not exceed fourteen (14). __ -" -- - (d)� If the number of applications exceed the number of I licenses to be issued, the available licenses shall be granted by a drawing supervised by the City Clerk. _ : 12.16 Operation of Stand. a No person other than the licensee organization shall operate the stand for which the license is issued or share or otherwise participate in the profits of the operation of such � stand. (b) No person other than the individuals who are members of the licensee organization, or the wives or husbands or adult children o£ such members. shall sell or otherwise participate ir_ the sale of fireworks at such stand. (c) No person shall be paid any consideration for selling . or otherwise participating in the sale of fireworks at such stand. i2.17 Temporary Fireworks Stands. All retail sales of "Safe and Sane" fireworks shall be permitted only from within a temporary fireworks stand, and sales from any other building or s�ructure is hereby prohibited. Temporary stands shall be subject to the £ollowing provisions: (a) No £ireworks stand shall be located within 50 feet of any other building, 300 feet of any gasoline pump, 20 £eet of a � curb line, nor within 1000 feet of any other fireworks stand. (b) Fireworks stands need not comply with the provisions of the building code of said city; provided, however, tnat all stands shall be erected under the supervision of the Building Official, who shall require that stands be constructed in a manner that will reasonably insure the safety of attendants and patrons. !c; No stand shall have a floor area in excess of 300 square feet. (d) Each stand in excess of 24 feet in length must have at least 2 exits; and each stand ir. excess of 40 feet ir. length must have at ieast-3 exits spaced approximately equal distants apart; provided, however, that in no case shall the distance between exits exceed 24 feet: (e) Each star.d shall be provided with twc 2-1/2 gallon "soda and acid or water pressure type fire extinguishers, " underwriter approved, in good working order ar.d easily accessible for use in case of fire. 12.18 General Re uirements for Licensees. a All weeds and combustible material shall be cleared from tne location of the stand including a distaace of at least 30 feet surrounding the stan3. (b) "No Smoking" signs shail be proninently displayed on the firewo:ks stand and no smoking shall be permitted within , the stand cr within 50 feet of the stand. _2_ 3273P/1269/00 _ . . i (c) Each stand must have an adult in attendance and in 1 -- ---- - charge thereo� while fireworks are stored therein. Sleeping or remaining in stand after close of business each day is 1 forbidden. I (d) The sale of £ireworks shall not begin before 12:00 I o'cZocic noon on the 28th dzy o� June and shall not continue after i2:00'o'clock noon on the 5th of July. (e) all unsola stock ard accompanying litter shall be � removed from the location by 5:00 o'clock P.M. on the 6th day of July. � (f) The fireworks stand shall be--reinoved from the � temporary location by 12:00 o'clock noon on the 18th day of July, and ail accompanying litter shall be cleared from said location by said time and date. 12.19 Deposit. Prior to the issuance of a license, each applicaat shall file with the C�ty Clerk a cash deposit in an amount established by resolution of the City Council, to assure compliance with the provisions of this chapter. Such deposit shall be refundable upon compl=ance with the provisions and requirements of this chapter, including but not limited to the removal of the stand and the cleaning of the site. In the event the licensee does not so comply or remove the stand or I clean the site, in the manner required by the Building Official, the City may do so, or cause the same to be done by other persons, and the reasonable cost thereof shall be a charge against the licensee's deposit. 12.20 License Fee. The license £ee for the selling of firewor s wit in t e City shall be in an amount determined by � resolution of the City Council which fee must be paid at the time of application. 12.21 Fire C'_earance Fee. Lynwood Municipal Code, Article III, Section 12-19 mandates that a Fire Clearance be applied for at the time of application for license. The fee shall be in an amount established by resolution of the City Council. 12.22 Cleanup Fee. A clear_up fee in an amount established by resolution of the City Council shall be paid at the time of application for the license. This fee is refundable upon completion of business activity and compliance with Section 12.18(f). 12.23 Temporary Sales Tax Permit Required. Organizations licensed for the selling of fireworks are reguired to obtain a temporary sales tax permit from the Regional office of the State Board of Equalization. 12.24 Display of State and City License and Sales Tax Permit. State and City Licenses to sell fireworks and temporary sales tax per.nit shall be displayed in a prominent place in the fireworks stand. 12.25 Prohibitions on Discharge. It shall be unlawful for any person to ignite, explode, project, or otherwise £ir.e or use, any fireworks, or penc:it the ignition, expiosion or projection thereof, upon or over or orto the property or another without his consent, or to ignite, explode, project, of otherwise fire or make use.of, any fireworks within ten feet of any residence, dwelling or other structure used as a place of � habitation by human beings,. 12.26 Prohibition on Sale of Safe and Sane Fireworks to Minors. a) Every person, agent or employee eaga9ed in the business of the sale or disposition oP safe ar.d sane.fireworks, wno seils, fernisnes, gives or causes to be seld, fcrni�hed or given away any safe and sane firework to any persori under the � age of sixteen (16) years whether or not the person engaged in said business has knowledge that the person sold to, furnished to or given to is under the age of sixteen (16) years is in violation of this ordinance. -3- 3273P/1269/00 i � � � (b) Any person under the age of sixteen (16) years who � purchases any safe and sane fireworks is in violation of this i ordinance. (c) Any person under the age of sixteen (16) years who discharges any safe and sane fireworks with the city boundaries except when under =he direct supervision and in the presence of an adult, is in violation of this ordiaaace. (d) For the purpose of preventing the violation of subsection (a), any person, agent, or employee, engaged in the business of the sale or disposition of safe and sa`ne fireworks, may refuse to sell, furnish or give away'ar.y s�'fe and sane fireworks to any person �dho fails to produce adequate written evidence ±hat he or she is sixteen (16) years or over. Such written evidence may include, but is not limited to, a motor vehicle operator's license. Proof that the person or agent or. employee, engaged in the sale or dispesition of safe and sane-- fireworks, demanded, was shown and acted in reliance upon adequate evidence or proof cf age o£ sixteen (16) years or over shall be a defense to any criminal prosecution under this section. (e) In the event of a conviction, plea o£ guilty or nolo contendere, of any person, agent or enployee, under section (a) of this section, any sponsoring organization from whose fireworks stand said illegal sale was made shall not receive a permit to sell fireworks the following year. 12.27 Penalties. Persons violating Lhis ordinance shall be deemed guility of a misdemeanor, and upon conviction, shall be punished by a fine not to exceed $500.00, or by imprisionment for a period not exceeding 30 days, or both such fine and imprisionment. Further the license shall be immediately revoked and the stand closed upon order of the City Clerk. Section 2. Article III of C'hapter 12 0£ the Code of the City o£ Lynwood is hereby amended by renumbering Sections 12.19. 12.20, 12.21, 12.22 and 12.23 as Section 12.2', i2.28, 12.29, '2.30, and 12.31 respectively. Section 3. Severability. If any section, subsection, subdivision, sentence, clause, phrase or portion of th?s erson or lace is ordinance or the application thereof to any p p , for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdicition, such decision � shall not affect the validity of the remaining portions of this ordinance or tis applicatior. to other persons oz places. The City Council hereby declares that it would have adopted this ordinance, and each section thereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses, phrases, or portions, or the application thereof to an�� person or.place, be declared invalid or unconstituticnal. Section 4. The City Clerk is hereby ordered anfi directed to certify to the passage of this ordinance and to cause the same to be published once in the Lynwood Press, a newspsper of general circulation, printed, published, and circulated in the City of iynwood. First read at a reaular meeting of the City Council of said City held on the day of , 1982, and finally ordered published at a regular meeti g o£ said Council held on the day o£ , 1982. _ 3273P/1269/00 I � � � AYES: NOES: � � � I ABSENT: I I ...._- Louis Thompson, Mayor City of Lynwood ATTEST: Andrea Hooper, City Clerk City of Lynwood APPROVED AS TO CONTENT: � Department Head APPRO AS TO FORM: C ✓ Ci�y Attorney f -5- 3273P/1269/00 , � � DATE: NOVEt�IBER 2, 1932 Z`0: HONORABLE MAYOR AND MEMBERS OF THE LYNWOOD CITY COUNCIL FROM: ANDREA L. HOOPER � -�— , CITY CLERK � SUBJECT: VACANCY ON THE TRAFFIC AND PARKING COMMISSION At the October 19, 19E2, City Council meetiny, Council acted to fi].1 two (2) of the three (3) vacancies on the Tcaffic and Pazking Commission. The appointees were Messzs. Wulter Laney and Darrell Gilbez, However, the third vacancy was not filled because of tie votes by the ___ _. Because the Traffic and Parking Commission will enter the month of Novembez, 1982, with an incomplete membezship, it is staff's recommen- dation that the third vacancy be filled as soon as possible. The candi- dates for the third vacancy are Messrs. Archie Legg and Wilbert Malchow. I tlw/ AGEtv'DA I:"':M r � � /9 � � � - i � � I � I DATE: NOVEMBER 2, 1982 I ' , � Tp; HONORABLE MAYOR AND hSEMBERS . OF THE LYNWOOD CITY COUNCIL FROD1: ANDREA L. HOOPER� CITY CLERK SUBJECT: NOMT_NATION FOR VACANCY ON THE CONil�iUNITY AFFAIRS COMMISSION The Lynwood Community Affaiis Commission, which meets on the thizd Wednesday of each month in the Council Chambets at 7:30 p.m., will have a member's term expiring in December, 1982. The member's name is Yolanda Bays. To ensure that the Community Affairs Commission has total membership participation in December, 1982, staff is recommendin9 that the Council nominate a candidate or candidates to fill the vacancy at its November 2, 1982, meeting and make the final appointment at its meeting of Novem- ber 16, 1982. RECOMMENDATION � Council nominate a candidate or candidates to fill the vacancy on the Community Affairs Commission. tlw/ nG��a z� � �2 O ' , t _ � � _ �. v r .. SOLICITATION �l �, ' BY � �� AhiP FIRE - RIO HONDO COUPJCIL � , ,�: .i�ual x I -": �ecial event r?�i ':'T3E CITY OF LYNWOOD I . 9519 E. Telegraph Rd. __ Pico RivPr� fa on�Fn r , � 7�� ae8 - + idress Cit� Zip Code Tei � .�:�e Organiz ed Incorporated T� Exempt ?revious Lic=n! - lgz9 1953 WF 95-1664114 (�1409) I �:roce=ds to be applied to wnat ourpose? � I ��'': cl ub programs � � .;,,'. `?=;?pe oi appea ype oi cnazions atie(s,: o= o1icY�a�ion I usidential �mmerce/Industry� Candy Sale ?romJan. 14 To feb. 7, 1� • tiN' '�; ;:*_-m oi Requeste License/Permit Goals ;:�"om Jan. 14 To Feb. 7, 1953 Local X �:;';�=? . S t at e . � ' Nationa ^ will be made by Indicaie Compensation, Salari°s, I �`;-`.-�id Solicitors •- Commiss_ons etc, paid to :=:,`�lenteers �_ . Conductors State deta=l `':=wspaper Promotors on reverse � ';�v /Radio I _ �aaagers :;;��.il • Sblicitors , ':; 3.1 e '��>'�x Osfice :`.:iher: :�;: � , -�:��1E OF ORGANIZaTIO TO B BE,tiEF.ITID ADDRESS TELi��HON _c.:, ',`',.�j r,/a : ��a - „��. " DAT� GF '':�SPRIBTION OF W�T IT DOES LOCATION OF ACT�VITY ACTIVITY ' j:; �cmission tio event by: Number Pr_nted �ucibered 1 � ��'� ��=' n�a n�a n/a n/a .,::',�icket Invitation . Donation PRICE 'VI � ,:: <:x �� _.., ':rojected Expenditures ior this Solicitazion: � ::-izes x Publ_c�ty Transporatation :iabor Telephoae Rental E ui ment �'��ood Stationery Purchase4Equipment �avors Advertising :._usic Food Reso=d Reservatioa Charges (per plate costs) estage X Decorations 14ercnandise So1d 'rinLing x Entertainers ostumes - Rental Bniiding Other �xpense: _ �'nifor�s � Perm:ts,Licease Total �25.00 �?�iicers Name anc Title (Two Requir=d) 9ddress Teleph 1� . ;�rint naa;e and�title '.Jalt2r S. Temple Prac;ria�t ��i�nature� �,�_ �� itle �ohn Walker r„ �T'1Ilt II3lDe 3Ild ' _ I --_--_—_ ._- . _,. ._ , surer _, - � � i. / < < � i ,; iig�ature c� ' `� = . -, / , � -,r I . . — i ` rr;y �'__.,.:� .. ; ..,_ j �� /�— i. ' . _ _ , ..._.. � . , , ;: a.r.:1 AGF.TIDA IT��' 1 - -��g'�g'.,lo!11�LI112i�1415ycf . � '_' __' - � , �/ . ' � '._�.._ ......:..........:.. �:. �_r._...n�.�.�.: �.. •...._.., v:.. ..,.a..l�.r..__.- . . s . . . . .... ....A. . . . .�....v. �f � • • . DATE: NOVEMBER 2, 1982 TO: HONORABLE �IAYOR AND MEMBERS OF THE r_ITY COUNCIL 0� FROM: HAROLD C. WILLIAMS, P.E., DIRECTOR OF PUBLIC WORKS/I� CITY ENGINEEP. SUBJECI: MOBIL OIL CCRPORATION - FRANCHISE, ESTABLISEING DATE OF PUBLIC HEARING PURPOSE Recommend that the City Council adopt the attached resolution • entitled, "A RESOLJTION OF THE CITY COUNCIL OF Ti3E CITY OF LYNWOOD ' DECLARING ITS INTENTION TO GRANT A FRANCHISE TO THE MOBIL OIL CORPORATIODi." BACKGROUND � The Mobil Oil Corporation maintains and operates approximately 5.4 miles of pipeline within.the City, under the authority of ; the City of Lynwood Franchise Ordinance No. 925. ; This franchise was granted for a period of ten (10) years from its date of 3dootion, December 21, 1972, and by its terms and conditions, will expire on December 21, 1982. In accordance with Section 6231, Article 2, of. the Public Utilities ; Code, Mobil Oil Corporation has indicated a desire to continue their operation beyond expiration date..'Under the terms o£ the • current franchise, Mobil Oil makes annual payments to the City at ' a rate of one-fourth (1/4) cent per inch of internal diameter per foot or eighty dollars ($80.U0) per mile, whichever is greater. This generates approximately $500.00 per year in revenue to the City. Staff is proposing that a new franchise be granted to Mobil Oi1 Corporation, with the new franchise rate of one-half_:(I�2; • cent oer inch of internal diameter per foot or 2s of the gross receipts attributable to all pipe lines under franchise with this company, whichever is greater. It is anticipated that this rate will generate approximately $940.00 per year in revenues to the ' City. This rate structure is eonsistent with the Public Utilities ' Code. AIQALYS I S : , Sta£f is of the opinion that it would be in the best interests of the City and Mobil Oil Corporation for the City of Lynwood ; to grant a new franchise agreement. RECOMMENDATION " It is recommended that the City Council adopt the attached resolution entitled, "A RESOLUTION OF THE CITY COUNCIL OF THE ' CITY OF LYNWOOD DECLARING ITS INTENTION TO GRANT A FRANCHISE TO THE:MOBIL OIL CORPORATION." / �� , ___ _._ - . ,. � � . � . RESOLUTION N0. ` A RESOLUTION OF. THE CITY COUNCIL OF THE CITY OF LYNP:OOD DFCLARING ITS INTEPITION TO GRAVT � � . ' A FRANCHISE TO TH� MOBIL OIL CORPORATION. . �, WEEREAS, the.City Council of th� City of Lynwood granted , to th�=_ Mobil 0i1 Cornor.ation a franchise to iay, maintain, and operate a pipe line system for the transportatior. of oil and ,' • gas, and to maintain a telephone line in conr.ection therewith,' ` . under certain public highways in.the City o'f Lynwood described as follows: ' (1) Imperiai Highway from the east City limit to the intersection of Norton Avenue; thence along Plorton P_venue to the westerly boundary .� line of State Street; thence southerly along '. �State Street and Santa Fe Avenue to the south- ' erly boundary line of Weber Avenue. . � '"' . (2) Within a certain district described by County Ordinance No. 781', to which re£erence is hereby � made for greater parficularity. � , � � � � (3) Alameda Street from the northerly Ci.ty � limit to the southerly City limit, ' by City Ordinance No. 925, for a period of not to exceed .ten � years from and after the date of the granting of said franchise, , and� i WHEREAS, the franchise granted by said City Ordinance ' No. 925 will expire December 21, 1982, and i.., TnlI3EREAS, Mobi1 Oil Corporation mairitains and operates , pipe lines under, upon and across certain public highways within ; the corporate limits of the City of Lynwood ur.der and by virtue' of said City Ordinance No. 925,.and � WHEREAS, Mobil Oil Corporation has written a letter to a � the City of Lynwood expressing its desire to continue operation , i � of the facilities beyond the expiration date above, and � WHEREA�, it would be in the best interest of the City j and Mobil Oil Corporation for the City to grant a new franchise with such terms and conditions as may be isposed by the City t �' Council, Director of Public Works/City Engineer arid City Attorney, + NOW, THEREFORE, the City Council o£ the City of Lynwood does resolve as follows: i s SECTION 1. That it is the intention of said City Council � to grant to Mobil Oil Corporation a franchise to be upon the j � following terms, provisions and conditions, to wit: �'- . ,�.. (1) That r_he term of said franchise shall be ten (10) • years from and after the date cn which the ordinance granting the �..,� " franchise becomes effective. ;n, �,, � (2) That the franchise shall be subject to all of the pro- visions of any and all ordinances of the City of Lynwood. In case of any conflict between any provision hereof and said ordinance, , the ordinance provisions shall prevai L `v � - �._.: .. . ,:.. � . . : .. : m ;.:: . > . ,, , 'a ,• � � (3) The word "grantee" when used hereim and in the .' , franchise shall mean and include:Mobi1 Oil Corporation, named '� "� as the`grantee in the ordinance grantinq'the francnise'and the successors an� assigns o£ said Mobil'Oil Corporation. � �, (4) ihe grantee shall file cuith the City Clerk of the , ' _ • City�of�LynF�oed iaithin ten (10) days after the ado?tion of the ° ordinance granting the franchise a written acceptance thereof,;. .'" � and sha11 at t_hE same time file with the City Clerk of the City ` or Lynwood a writt�n declaration of surrender of-its franchise � under`City Ordinance No. 925. ` (5) -Tne grantee shall have the right, subject to such ;, regulations, laws and ordinances as are now or may hereafter be ; . - -in force, to mak� all necessary excavations in the public streets, ; alleys, and ways for the construction, maintenance, oneration, renewal, repair, change in size and r.umber of, and removal of � ; pipe lines, pole lines and conduits constructed, maintaine3'or, operated under the franchise. t (6) The work of constructing, maintaining, operating, removing, repairing, changing the size and humber of and removing �' pipe lines, pole lines and conduits shall be conducted with the least possible obstruction and inconvenience to the public and - , with the least possible hindrance to the use of the streets, • + alleys, and ways for purposes of travel. All excavations shall ' be backfilled and the sur£ace placed in as good condition as it - was at the beqinning of such work and to-the satisfaction of the Director of Public Works/City Engineer. The grantee shall hold � the City of Lynwood, the City Council and other officers, harmless � • fr.om any claims for damage or injury sufifered by any person by ; ° reason of any excavation or obstruction in said streets, alleys or . ways.occasioned by the construction, maintenance, ope�ation, � reapir or removal of any pipe lines,��oole"lines or conduits of ? the grantee under said franchise, and shall.be responsible for any such damage or injury_ (7) The City of Lynwood reserves the right to change the • grade or line of any street, alley or way in which pipe lines, pole ` lines or conduits are constructed, maintained or operated under the franchise, and upon receiving notice from the City Council of + its intention to do so „ the grantee sha11 promptly and at its own ' cost and expense, change the location of all such facilities and - their:appurtenances where necessary to conform to such change or . � line. Any damage caused to any public improvement by the grantee - in exercisir.g any right or privilege under the franchise or in performing any duty under or pursuant to the provisions of the • ordinance granting the franchise shall be promotly repaired by the grantee at its sole cost and expense. . (8) The grantee sha11 reoair at its own expe'nse any damage caused to any street, alley, way or other public property of the City of Lynwood by reason of any breaks; leaks or failure of any of the pipe lines, pole lines or conduits constructed, maintained - 2 - -` _ � � _ 'or onerated un�er said franchise,'at itS.sole cost and expense. .In the event the grantee shall fail to make any such repairs within � �. ten (10) days after receipt o£ a notice and demand therefor.from' the City� the City,mav make such repairs at the.cost and expense .: . ° of the grantee, wh'_ch cost, by the acceptance of.the franchise, the.` � . grantee shall agree to pap upon 3emand. . (9) The grantee of this franchise sha�l, during the life , hereof,.make annual payments to th� City of Lynwood, in lawful money ' . of the United States, for the privilege hereby granred, at the rate o£ one-half (1/2) cent per inch of incernal diameter oer lineai foot, , ` or two percent (20) of the gross annual receipts attributable to all pipe lines under franchise with Mobi1 0i1 Corporation, whichever. � is the greater, o� the pipe line'heretofore or hereafter installed and maintained in public streets, alleys and ways by of the authority granted by che franchise or any franchises superseded'by , ; the franchise. Said annual payment shall be made on.or be£ore the , firsf day of April of each and every calendar year during the term ' hereof, beginning as of the effective day of the ordinance granting � the franchise for the twelve-month fiscal period ending on �the preceding October 31. In the event any pipe line sha11 have been subject to the terms of this franchise for only a fractional part of '` said twelve-month period, the payment therefor shall be computed in . � the proportion in which the number of days in the said fractional part of the twelve-month period bears to three hundred and sixty-five ; (365) days. � The annual paymeat shall be accompanied by two copies of a report, veri£ied by the oath of a duly authorized representative of the grantee, showing the length of pipe lines in public highways, = the internal diameter of such lines, the rate per foot and the total � - i amounf due.' In the event new pipe lines have been laid longitudin- ally.in public highways subsequent to the previous report, there. ' sha11 be included with the current report a statement showing the ; permit number, date laid, feet applied for, feet laid, and size of � all new lines laid or constructed. .' (10) Grantee shall not permit any right or privilege granted ' by the franchise to be exercised by another, nor shall the franchise or any interest therein or any right or privilege thereunder be in - whole or in part sold, transferred, leased, assigned or-disposed of ; except *_o a corporation acquiring or owning a portion of the assets of the grantee, through consolidation, merger, or reorganization, or , to a subsidiary of grantee, or to any person, firm or corporation having assets of more than r^ive M�llion Dollars ($5,000,000.00) � without the consent of the City expressed by resolution; provided, ' however, that the provisions of the franchise shall not require.any ' such consent and no consent sha11 be required for any transfer by � grantee in trust or by way of mortgage or hypothecation covering all ' or any part of grantee's property, which trans£er, mortgage or hypothecation shall be for the purpose of securing as indebtedness of grantee or for the purpose of renewing, extending, refunding, '�- retiring, paying or cancelling in whole or in part any such indebted- - 3 - ; ..: , . _ -- : r � � ness at any time or from time to time. Any such sale, lease, •. assignment or.other disposition of franchise for which consent of , ' the City is requi:=ed hereunder:shall be evidenced by a duly executed •' instrument in wricing filed in th"e office of the City Clerk. ,• (11) �n or before the first day of May ard November of, .each year 3uring the life of the franchise; the grantee shall render to the City a statement showing in detail the total lenqth` �'of any pipe line constructed, removed or abandor.ed under'the franchise. '. during,the precedinq six-months' period, together with a map or . maps accurately showing the location in the publ�c streets, alleys- ' , or ways'of any such pipe line so constructed, removed'or.abandoned. " Sai3 statenen±s and maps shall be accompanied by the payment,of an, . amounf of money equal to the rate of One Hundred Dollars ($100.OQ) per mile for all pipe line constructed, if any th�re be, shown on 'said statements and maps: , ' (12) In the event the qrantee shall fail to keep, fulfill ' � or perform any of the terms or conditions of the franchise and r shall fail to remedy such default within thirty (30) days a£ter • notice from the City, the City Council map, at its option, exercised � by resolution or ordinance, declare the franchise forfeited. Upon such declaration of forfeiture the franchise shall be deemed cancelled ' and terminated and all of the rights and nrivileges of the grantee under the franchise shall be deemed surrendered and terminated.and' ' the City may thereafter exclude the grantee from further use of the ; public st-eets, alleys and ways under the franchise. , (13) The work of constructing, mair.taining, operating, • renewing, repairing, changing the size or number or removing any pipe lines, pole lines or conduits under the franchise shall, at all �• � times during the of the franchise, in all respects comply with all of the rules, regulations, ordinances and enactments of the City ' of Lynwood and of such federal, state and county authorities as may have jurisdiction over said facilities; provided, however, that in �� each instance the paramount authority shall be binding on the ' grantee, and the City of Lynwood hereby reserves all regulatory power by law allowed to it over and with reference to the franchise ' and the exercise of rights, poc.iers, and privileges under the same by the grantee. : (14) Said franchise is not and sha11 nct be exclusive. SECTION 2 . BE IT FURTHER RESOLVED that the City Clerk of �' the City o£ Lynwood be and she is hereby authorized and directed to � advertise the fact that said application for said franchise has ; been made to said City Council, together with a statement that it is � , proposed to grant said franchise upon terms, provisions and conditions set forth in this resolution, by publishing a not'7C'� of the time and place of the public hearing as set forth in SECTION 3 hereof, in the Lynwood Press, a weekly paper of general circulation,published in . the City of Lynwood; that said notice be published once within ,. " fifteen (15) days of the oassage of said resolution and at least - 4 - ; . ;.; �..: _ ,.. . :.. . ; ,: , : � - ` � , ten (10) days prior to the date of the hearing, and that said notice shall state that the grantee of the franchise, Mobil Oil Corporation, and its �uccessors and assigr.s, will, during the lifetime of the franchise,. pay �o the City of Lynwood for the privilege granted, at the rate of one-haif (1/2) cant per incn of internal diameter per ; foot, or two percent (zo) of the gross annual receipts attributable to all pipe lines under franchise with Mobil Oil Corporation, whichever is the greater, of the pipe line heretofore or hereafter � installea and maintained in public streets, alleys and ways by virtue of the authority granted by the franchise or any franchises superseded by the franchise, and that in the event the payment is not made, the franchise �aill be forfeited; that the notice shall also I state that the term oT the franchise is ten (10) years. , SECTICN 3. IT IS FURTEER ORDERED, STATED AND DECLARED that the hour of 7:30 P.M. on the 7th day of December, 1982; be, and the same is hereby fixed as the hour and the day for the meeting of the : City Council in the Couacil Chambers of the City xall of said City, ' at which any persons having any interest in the franchise or any : objection to the granting thereof may appear before the City Council � and be heard thereon. I SECTION 4. This resolution shall take effect immediately � upon its adoption. � APPROVED, PASSED and ADOPTED this day of , 1982. LOUIS A. THOMPSON, Mayor ATTEST: City of Lynwood ANDREA L. HOOPER, City Clerk � City of Lynwood ATTEST AS TO CONTENT: � HAROLD C. WILLIA,"�IS, P.E. Director of Public Works/City Engineer ATTEST AS TO FORM: City of Lynwood ' I I � DAVID McEWEN, CiLy Attorney i City of Lynwood I i � � , � , I I i I I I