Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-368

thereon, and shall he used for no other purpose whatever, provided, however, that in the event said fund shall he insufficient to pay said bonds and the interest thereon as they become due, the deficiency shall he paid out of the City’s general fund. Said special assessments made and levied to defray said cost, with accruing interest thereon, consti­tute a lien upon and against the property upon which such assessments were made and levied from and af­ter the l6th day of February, 1955 the date upon which the amended assessment roll therefor was con­firmed and approved by the Board of Commissioners of said City. It is hereby certified, recited and declared that all acts, conditions and things essential to the validity of the bond exist, have happened and have been done in due time, form and manner as required by law, and that the total issue of said improvement bonds of said City for said improvements and incidental expenses, including this bond, does not exceed the amount authorized by law nor the special assessments levied to cover the cost of said improvements. It is hereby further certified, recited and declared that the proceedings with reference to making such improvements and levying the assessments to pay therefore have been regularly had and taken in com­pliance with law, and that all prerequisites to the fixing of the assessment lien against the property benefited by the improvements and of the personal liability of the owner or owners of such property there­for have been performed. This bond is subject to the condition, and every holder hereof by accepting the sane agrees with the obligor and every subsequent holder hereof, that (a) the delivery of this bond to any transferee shall vest title in this bond and in the interest coupons attached hereto in such transferee to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to bearer; (b) the obligor and any agent of the obligor may treat the bearer of this bond as the absolute owner here­of for all purposes, and shall not be affected by any notice to the contrary; (c) the principal of and the interest on this bond shall be paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any set-offs or cross-claims; and (d) the surrender to the obligor or any agent of the obligor of this bond and each of the coupons shall be a good discharge to the obligor for the same. IN WITNESS WHEREOF, the City of Las Vegas, Nevada, has caused this bond to be signed by its Mayor, countersigned by its City Treasurer, and its corporate seal to be affixed hereto and attested and counter- signed by its City Clerk, and the annexed coupons to bear the facsimile signatures of said officials, and this bond to be dated as of the first day of April, 1955. (Do not sign)________ Mayor (SEAL) Attested and Countersigned: Countersigned: (Do not sign)__________ City Treasurer (Do not sign) City Clerk (Coupon Form) (For Bonds 1 through 70 Inclusive) (a) $ 32.50 (b) 6.50 (c) 23.83 NO.*________ On the first day of January, 19__,***(unless the bond to which this coupon is attached has been called for prior redemption) the City of Las Vegas, County of Clark, State of Nevada, will pay the bearer hereof the sum of (a) Thirty Two and Fifty One Hundredths Dollars (b) Six and Fifty One Hundredths Dollars (c) Twenty Three and Eighty Three One Hundredths Dollars in lawful money of the United States of American, out of a special fund designated the "Assessment Dis­trict No. 100-25 Street Improvement Bond Interest and Redemption Fund," or in the event said fund shall be insufficient therefor out of its general fund, at the offices of the City Treasurer of said City, being one year's interest on its "Assessment District No. 100-25 Street Improvement Bond,Series of April 1, 1955" and bearing No.________________ (Facsimile signature) Mayor (Facsimile signature) City Treasurer (Facsimile signature) City Clerk (a) (insert as amount for coupons for bonds in the denomination of $1,000.00.) (b) (insert as amount for coupons for bonds in the denomination of $ 200.00.) (c) (insert as amount for coupons for bond in the denomination of $ 733.28.) Section 5. That when said bonds have been duly executed, the City Treasurer in the City of Las Vegas shall deliver them to the lawful purchaser thereof on receipt of the purchase price. The funds realized from the sale of the bonds shall be applied solely to defray the cost and expense of making said improve­ments, but the purchaser of said bonds shall in no manner be responsible for the application by said City, or any of its officers, of any of the funds derived from the sale thereof. Section 6. That the officers of the City of Las Vegas be, and they hereby are, authorized and di­rected to take all action necessary or appropriate to effectuate the provisions of this ordinance, in­cluding, without limiting the generality of the foregoing, the printing of said bonds and the execution of such certificates as may be reasonably required by the purchasers thereof, relating, inter alia, to the signing of the bonds, the tenure and identity of the municipal officials, the amounts certified on the assessment roll together with the amount of cash payments, the accuracy of property descriptions, the receipt of the assignable certificates and the delivery of the bonds, and the absence of litigation pend­ing or threatened affecting the validity of the bonds. Section 7. That after said street improvement bonds are issued, this ordinance shall be and remain irrepealable until said bonds and the interest thereon shall be fully paid, certified and discharged, as herein provided.