HomeMy Public PortalAbout90-057 (04-17-90)RESOLUTION N0. g0-57
A RESOLUTION OF THE CITY OF LYNWOOD APPROVING AN AMENDMENT
TO AGREEMENT FOR SALE OF PROPERTY FROM THE CITY OF LYNWOOD
TO THE LYNWOOD REDEVELOPMENT AGENCY
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WHEREAS, the City of Lynwood has sold to the Lynwood
Redevelopment Agency City-owned property located in Project Area
"A," for $634,784; and
WI-IEREAS, the City has conveyed the property to the.•.•:•:•.•:•:•.•:•:
Agency for development of the Towne Center; and .•.•.• '..
WHEREAS, interest is accrued at a rate of 12~ per annum~
and is calculated on unpaid balance of principal plus accumulated.~.~.~.~~'•'•'•'•'•
interest; and
WHEREAS, the compound interest method should be used for
interest computation;
NOW, THEREFORE, the City of Lynwood does resolve as
follows:
Section 1. The City of Lynwood approves and authorizes
the Mayor to amend the "Agreement For Sale Of Property" in the
form attached hereto as Exhibit A. Staff is authorized and
directed to take appropriate action to effectuate amendment to
the foregoing agreement.
PASSED, APPROVED AND ADOPTED this 17th_day of
April , 1990.
J~
ROBERT HENNING, YOR
City of Lynwood
~ES' ~f pGL, ,
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ANDREA L. HOOPER, CITY LERK
City of Lynwood
APPROVED
FORM:
APPROVED AS TO CONTENT:
l
r of Finance
m Director of
ty Development
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LYNAGMTA
STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood,
do hereby certify that the above and foreoging resolution was
duly adopted by the City Council of said City at a regular
meeting thereof held in the City Hall of the City on the 17th day
of April, 1990, and passed by the following vote:
AYES: COUNCILMEMBERS HEINE, REA~ RICHARDS~ WELLS, HENNING
NOES: NONE
ABSENT: NONE
vc / f~~o~.e~-~
City Clerk, City of Lynw od
STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood,
and Clerk of the City Council of said City, do hereby certify
that the above and foregoing is a full, true and correct copy of
Resolution No. 90-57 on file in my office and that said resolution
was adopted on the date and by the avote therein stated.
Dated this 20th day of April, 1990.
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City Clerk