Resolution No. 631
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RESOLUTION NO~ 631
IN THE MATTER OF ACQUISITION AND IMPROVEMENT '
DISTRICT NO. 1 OF TIm CITY OF VERN0N,
CALIFORNIA.
RESOLUTION ORDERING THE ISSUANCE OF ACQUISITION
BONDS. '
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WHEREAS, at the time and placehereto;f'ore~!'x~dby
this City Council of the City of Vernon, California.:f~P.the'
hearing upon the issuance of bonds against the landsi;Pj;;he
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assessment district in Acqu1:sit.ion and Improvement District , "
Nef.' 1 of"the City 9fVe~non, Cali:e~rnta f:ev,.tl:le pu:rpose or
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obtaining the amount necessary to pay the' :tnte~docuto~
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ment and all cost$ and expenses cb,argable to the pl.a~ritiff. ·
in the condemnation action and the 'incidental expeQs~~of
proceedings, the matter of the issuance of' said bonds was
taken up; and
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WHEREAS, 88l?taiR 81ij89tieM.8
1; e tile 18811flllle(,
ha.<5,~6$11 mMe And filed, ..........1
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No objections to the issuance of csaidbon.(is have
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been made or f'iled; and
WHEREAS, evidence was taken on the regiJ.~ari.ty .of
the preceedings and upon the matter of the issuance
bGnds,and. the matter ,having been f'ully considered;
NOW, THEREFORE, IT IS HEREBY ~SOLVED, de;te:f)l1~ed
and ordered by the, City Couneil of the City of Vernon,
fornia, as f'ollows, to-wit:
(1) That the notice 4>f the day" hour
the hearing upon the issuance of b~ndsforthe
before stated has been duly and
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as required by law.
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(2) That all of the acts, determinations and pro-
ceedings heretofore ha.d and taken in the matter of Acquisi-
tion and Improvement District No. 1 of the City of Vernon,
California are regular and in all respects sufficient.
(3) . That all protests or obj~ctionsof whatever
nature to the issuance of said bonds are hereby overruled,
and denied.
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(4) "'tuhatthe'publ!c' !nterest, necessity and cOn-
venien~€t,.,4e~ano. .ap9-reqtiire,. and ltis. here~~..o;cdered, that
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bo.ndso,f; tl1e. district shall be issuect in1;;he to~al sum of
forty-four thou$and'six hurHired. ninety-six and two-hundredths
'dollars ($44,696.02) and the .tres.'snrer of the Cityo! Vernon,
Calif'ornia is hereby ordered to issue bonds of said district
designated Series "Aft in said aggregate principal sum; dated
the day of the passage of this resolution, all in the manner
and form provided in the Acquisition and Improvement Act of
1925, as amended, and in further accordance with the provi-
sions of the resolution of intention adopted in this mat.ter
December 15, 1930.
Said bonds shall bear interest at the'
rate of seven per cent per annum and shall be payable in
twelve annual installments, the first payment of the principal
of said bonds to'be.made three (3) years af'ter the date of
issuance thereof.
(5) That sealed bids or proposals for the pur~hase
of said bonds be called for, said bids to be opened on Nov~mber
16, 1931 at the hour of eight o'clock P.. M., and the clerk of
this city and the treasurer thereof are hereby authorized to
publish such notice inviting bids by two insertions ,in "the-
Huntington Park Signal, said notice to be in the form"ind:pub-
lished in the manner required by law.
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(6) That said bonds shall be dated as of the date
of this order, designated Series "An, and shall bear interest
at the rate of seven per cent per annum payable semi-annually,
except that the first interest shall be payable January 2,
1933, and the last interest shall be payable at the maturity
of each respective bond. Said bonds are issued to secure
the money necessary to pay the defendants to the condemnation
suit herein and to pay certain incidental expenses of pro-
ceedings and the costs of said condemnation suit and will be
number~li, of the denominations and maturities, as follows:
NUMBE.RB DENOIfiNATION MATURITY
1- 4 $1000 November 2, 1934
5- 8 1000 tf 2, 1935
9-12 1000 " 2, 1936
13-16 1000 t1 2, 1937
17 -20 1000 n 2, 19.38
21-24 1000 ft 2, 1939
25-28 1000 tf 2, 1940
29-32 1000 t1 2, 1941
33-36 1000 n 2, 1942
37-40 1000 ft 2, 1943
40-44 1000 t1 2, 1944
45 696.02 t1 2, 1945
(7) That the clerk of this City Council is hereby
directed to cause this resolution to be set out in full upon
the minutes of this Council.
(8) That the clerk of this City C0uncilshall~'~orth-
with transmit to the city treasurer an attested copy of this _
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resolution and order.
Attested, signed and approved this 2nd day of
November, 1931.
ATTEST:
ernon,
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STATE OF CALIFORNIA, )
) SSe
COUNTY OF LOS ANGELES,)
I, T. J. FURLONG, City Clerk and Ex Officio Clerk
of the City of Vernon, California do hereby certify that
the above and foregoing. resolution was adopted at a regular
meeting of the City Council of the City of Vernon, California
on the 2nd day of November, 1931 by the following vote, to-wit:
AYES: Councilmen Durbin, Levy, Leonis, Marti. & Furlong
NOES: Councilmen None
ABSENT: Councilmen None
ernon,