CC RESOLUTION 12746: a I
RESOLUTION NO. 1274.
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF EL SEGUNDO, CALIFORNIA,
RELATIVE TO ISSUANCE OF SERIAL BONDS
REPRESENTING UNPAID BALANCE OF ASSESSMENTS
FOR OPENING CF NEW STREETS THROUGH BLACKS
107, 108, 109, 110, 111 and 1144
EL SEGUNDO.. SHEET NO. 5.
WHEREAS, the City Council of the City of El Segundo,
California did on the 30th day of Wroh, 1949 pass and adopt
Ordinance No. 350, being an ordinance declaring the intention of
said City Council to order the laying out and opening of now
streets through Blocks 107, 1089 1092 110, 111 and 114, El Segundo,
Sheet No. 5; and
WHEREAS, Section No. 7 of said Ordinance No. 350 provided
that the proceedings for the aforesaid improvement was to be had
and taken under the provisions of the "Street Opening Act of 1903"3
and the said City Council further determined and ordained that
serial bonds may issue to represent the unpaid balance of each
assessment when said amount is twenty -five dollars ($25.00) and over
and remaining unpaid for thirty (30) days after the date of the
recordation of the assessment. Said bonds to be issued in conformity
to and under the provisions of the "Street Opening Bond Act of 1911 ",
being Part 2 of Division VI of the Streets and Highways Code of
the State of California; and
WHEREAS, under the provisions of Sections 4531 and 4532 of
said "Street Opening Bond Act of 1911 9, said City Council has the
power to determine the term of said bonds and also the rate of
Interest the bonds shall bear, which rate shall not exceed six per
cent (6%) per annum, and that such determination may be made at any
time up to the confirmation of the assessment for such acquisition.
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ORDERED as follows:
Section 1* That notice is hereby given that serial
bonds shall be issued to represent the unpaid balance of each
assessment, when said amount is twenty -five dollars ($25 *00) and
over and remaining unpaid for thirty (30) days after the date
of recordation of the assessment. Said bonds shall extend over
a period ending nine (9) years from the second day of July next
succeeding the next April 15 following the date of the bonds.,
and shall bear interest at the rate of six per cent (6%) per
annum.
Section 2* That the said bonds are to be issued
in conformity to and under the provisions of the "Street Opening
Bond Act of 1911 ", being part 2 of Division VI of the Streets
and Highways Code of the State of California,
Section 3. That the City Clerk shall certify to the
passage and adoption of this resolution; shall enter the same in
the Book of Resolutions of said city, and shall make a minute of
the adoption thereof in the records of the proceedings of the
City Council of said city in the minutes of the meeting at which
the same is passed and adopted*
PASSED, APPROVED AND ADOPTED this 11th day of
January , 1953
mayor of the j/
City of E1 Segundo., Calf is
ATTEST:
�.
City Clerk
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS
CITY OF EL SEGUNDO )
953
I, Neva M. Elsey, City Clerk of the City of
E1 Segundo, California, do hereby certify that the whole
number of members of the City Council of said city is five;
that the foregoing resolution, being Resolution No. 1274
was duly passed and adopted by the said City Council, approved
and signed by the Mayor of said city, and attested by the
City Clerk, all at a regular meeting of the said City Council
held on the 14th day of January , 195 3 , and that
the same was so passed and adopted by the following voter
Z AYES: Councilmen Baker, Cordon Peterson
NOES: Councilmen None
s
ABSENT: Councilmen None ,
City Clerk
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