HomeMy Public PortalAbout2611 (08-23-55) RESOLUTTON N0. 2611
A RESOLUTION AND ORDER OF THE CITY COUNCIL OF
THE CITY OF LYNWOOD, CALIFORNIA; ELECTING TO
PAY OUT OF MUNICIPAL FUNDS SIXTY PER CENTUM
' (60f) OF THE AMOUNT OF TAX WHICH WOULD OTHER-
WISE BE LEVIED UPON PROPERTY WITHIN SAID CITY
OF LYNWOOD BY AND FOR THE METROPOLITAN WATER
' , DISTRICT OF SOUTHERN CALIFORNIA, FOR THE FISCAL
YEAR BEGINNING JULY l, 1955 AND ENDING JUNE 30,
1956 AND PROVIDING FOR THEi'PAYMENT THEREOF,
.. WI-IEREAS, the Board of Directors of The Metropolitan Water
District of Southern California has levied a tax upon taxable pro-
• perty within said District for the fiscal year beginning the lst
day of July 1955 and ending the 30th day of June, 1956 for the
- purpose of ineeting the interest and sinking fund requirements on
all outstanding bonded indebtedness of said District, and the-pay-
ment of the principal and interest on any refunding bonds, and on
any bonds, the issuanee of which may have been authorized by the
electors, and which bonds have not been sold, but which bonds, in
the ,judgment of the Board of Directors, will be sold prior to the --
time when money will be available from the next subsequent tax levy,
together with a tax upon taxable property within said City of Lynwood,
as annexed to said District, for the said fiscal year for the purpose
of raising the annual�installment of the'aggregate amount �o be raised
by means of substantially equal annual levies within said City of
. Lynwood, as prescribed by said Board of Direators of said District
in fixing the terms and conditions for the annexation of the corporate
area of said City of Lynwood to said District, together.with a tax
upon ta.�cable property within said District for the said fiscal year
for all other District purposes; and
WHEREAS, the City Council of the City of Lynwood., pursuant
� to the provisions of Section 8.2 of The Metropolitan Water District
Act of the State of California, did on the 7th day of December,
1954 adopt its Resolution No. 2574 wherein it declared the intention
of the City of Lynwood to pay out of municipal funds Sixty per centum
(60�) of the amount of said District�s taxes for the said fiscal
year commencin$ July l, 1955 and ending June 30 1g56 to be derived
from the area of said District within said City; and
WHEREAS, the amount of money to be derived from the area
of the said District lying within said City of Lynwood by virtue of
said tax levy by said District for said fiscal year, for the afore-
said purposes of ineeting the interest and sinking fund requirements
of the said bonded indebtedness and. the payment of the prineipal
and interest on the aforesaid bonds is the sum of $32 and
WF�REAS, the amount of money to be derived from the area
of said District lying within said City of Lynwood by virtue of
said tax levy by said District for the said fiscal year for the
aforesaid purpose of raising said annual installment of said a�gre-
gate amount to be raised by means of special tax levies within said
City of Lynwood in accordance with the terms and conditions upon
which the corporate area of said City of Lynwood was annexed to said
District is the sum of $57 and
WF�REAS, the amount of money to be derived from.the area
of said District lying within said City of Lynwood by virtue of said
tax levy by said District for said.fiscal year for the aforesaid
all other District purposes, is the sum of $20 ,145.75 ; and
WHEREAS, there is now available in the Water Fund of the
City of Lynwood, a sum sufficient, and which may be used, to pay
Sixty per centum (60�) of the aforesaid taxes levied by said. District,
for said fiscal year, upon ta�cable property within said District
lying w3thin said City; "
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE.CITY
COUNCIL OF Tf� CITY OF LYN4700D, CALIFORNIA, AS FOLLOWS:
Section 1. That the said City Council hereby elects to
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pay out of the municipal funds, to wit: The Water Fund of said City
of Lynwood, the sum of $66 ,480.95 as payment of Sixty per centum (60�)
of the amount of tax which would otherwise be levied upon property
within said City of Lynwood under and by virtue of the aforesaid tax
levy of said The Metropolitan Water District of Southern California
for said fiscal year commencing July 1 1955 and ending June 30 1956
and the said sum of $66 ,480.95 hereby is appropriated from said Water
Fund for the purpose of making said payment hereby authorized and
elected to be made; and
BE IT FURTHER RESOLVED AND ORDERED:
Section 2. That payment of said a�gregate sum of $66 ,480.95
shall be made as follows:
(1) By depositing the sum of $19,642.10 in cash
with the Treasurer of said District on or before the 27th day of _
August 1955 �the said sum being the total payment of the Sixty per
centum (60°0) elected to be paid by said City of Lynwood of the amount
of.said District�s tax for said fiscal year which would. otherwise be
levied upon property within said City for the aforesaid purposes of
meeting the interest and sinking fund requirements on the said bonded
indebtedness and the payment of principal and interest�on the afore-
said bonds of said District);
(2) By depositin$ the sum of $28,103.31 in cash
with the Treasurer of said Distr3ct on or before December 10 1955
(the said sum being sixty per centum (60�) of the total payment of
the Sixty per centum (60�) eleeted to_be paid by said City of Lynwood
of the amount of said District►s taxes for said fiscal year which
would otherwise be levied upon property within said City for the
aforesaid purposes of raising said annual installment of said a$gre-
gate amount to be raised by special tax levies within said City of
Lynwood in accordance with the terms and conditiona upon which the
corporate area of said City of Lynwood was annexed to said District
and for said all other District purposes);
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(3) By depositing the sum of $18,735•54 in cash
with the Treasurer of said District on or before May 10, 1956 (the
-said sum being forty per centum (40�) of the total payment of the
Sixty per centum (60%) elected to be paid. by sa.id City of L,ynwood
of the amount of said District�s taxes for said.fiscal year, which
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would otherwise be levied upon property within said City for the
aforesaid purposes of raising said annual installment of said. aggre-
gate amount to be raised by special tax levies within said City of
Lynwood, in accordance with the terms and conditions upon which the
corporate area of said City of Lynwood was a.nnexed to said District,
and for said all other purposes)• and
,
BE IT FURTHER RESOLVED AND ORDERED:
Section 3. That the City Clerk of the City of Lynwood
immediately shall nertify to the Controller of said District a, copy
of this resolution and order, together with the financial statement
which is required by law to be furnished to said District.
Passed and adopted this 23rd day of August 1955 by the
£ollowing vote, to wit:
� Ayes: Councilmen: Bruner, McMeekin, Pearson, and
Willard.
=�"� � Noes: Councilmen: None.
Y _�,,` �. ,; .. ,,:' � .
Absent: Councilmen: Pender.
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES: ss,
CITY OF LYNWOOD ) '
I, f,he underwi�ned, Cit,y Clerlc of the
City of Lynwood, do hereby �ertify that the above
and foregoing resolution was duly adopted by the
City Council of said Ci�y at an ad,�ourned regular
meeting thereof held in the City Hall of said City,
on the 23rd day of August , 1g55 , and passed
, by.the following vote:
AYES: COUNCILNfEN Bruner, McMeekin,
Pearson, Willard.
NOES: COUNCILMEN None.
� , � e ar•... � .
� :4 ° � ,J_�- `' ABSENT: COUNCILMEN -Pender. -
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