Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-330

306 His Honor, the Mayor stated that this was the time and place designated in such notice of sale for the opening of bids for the purchase of such bonds, and the City Clerk was authorized and instructed to open and read said bids, which were as follows; PAINE, WEBBER, JACKSON CURTIS 209 So. La Salle Street Chicago 4, Ill. October 4, 1948 Honorable Mayor and city Council City of Las Vegas, Nevada Gentlemen: For Three Hundred and Fifty Thousand Dollars ($350,000.00) SEWAGE DISPOSAL BONDS OF THE CITY OF LAS VEGAS, NEVADA, dated May 1, 1948, denomination One Thousand Dollars ($1,000), bearing in - terest at the rate of Three Per Cent Per Annum (3%), payable semi-annually, both principal and interest payable at the office of the City Treasurer, Las Vegas, Nevada, maturing $35,000 May 1, 1949 through 1958 inclusive, bonds maturing on and after May 1, 1954 are callable at the option of the City oh May 1, 1953 or any interest payment date thereafter at par and accrued interest, we will pay you par Three Hundred and Fifty Thousand Dollars ($350,000) and accrued interest, and in addition thereto a premium of Six Hundred and Sixty-Seven Dollars ($667.00). This bid is made for immediate acceptance and for delivery of the bonds to us within forty- five days from the date of acceptance hereof, you agreeing to furnish us prior to delivery the approving opinion of Messrs. Pershing, Bosworth, Dick and Dawson, Attorneys, Denver, Colorado, which opinion shall recite that these bonds are payable from taxes levied against all of the taxable property in the City within the limits prescribed by law but constituting a first charge on said City Taxes, as well as from the revenues derived from sewage charges, which sewage charges the City covenants to maintain sufficient to pay principal and interest on these bonds and pay for the operation and maintenance of the sewer system. As evidence of good faith, we attach hereto our certified check for Seventeen Thousand Five Hundred Dollars ($17,500) which is to be held by you pending compliance with the conditions of this bid, and is only to be used as part payment for said bonds when approved and delivered to us. Said check is to be returned to us if this bid is not accepted, or if the above mentioned attorneys should decline to approve the legality of this issue. Respectfully submitted, Paine, Webber, Jackson. & Curtis Stem Brothers & Co by: P. K. Van Winkle Manager, Municipal Dept, eo After careful consideration by the Board of city Commissioners of the bid, Commissioner Moore introduced and moved the adoption of the following resolution; RESOLUTION NO. 119 RESOLUTION WHEREAS, in response to official advertisement for bids on $350,000, Las Vegas, Nevada, Sewage Disposal bonds, Series of may 1, 1948, it has been determined that the bid of Paine, Webber, Jackson & Curtis of Chicago, Illinois, is the highest, best and most advantageous bid received for the purchase of said bonds, and that it is to the advantage of Las Vegas, Nevada, and the taxpayers thereof that said bid be accepted. NOW, THEREFORE, be it resolved that the bid of Paine, Webber, Jackson & Curtis, of Chicago, Illinois, be, and the same is hereby accepted which bid is a s follows, to-wit: PAINE, WEBBER, JACKSON & CURTIS 209 South LaSalle Street Chicago 4, Illinois October 4, 1948 Honorable Mayor and City Council City of Las Vegas, Nevada Gentlemen; For Three Hundred and Fifty Thousand Dollars ($350,000.00) SEWAGE DISPOSAL BONDS OF THE CITY OF LAS VEGAS, NEVADA, dated May 1, 1948, denomination One Thousand Dollars ($1,000), bearing interest at the rate of Three Per Cent Per Annum (3%), payable semi-annually, both principal and interest payable at the office of the City Treasurer, Las Vegas, Nevada, maturing $35,000 May 1, 1949 through 1958 inclusive, bonds maturing on and after May 1, 1954 are callable at the option of the City oh May 1, 1953 or any interest payment date thereafter at par and accrued interest, we will pay you par Three Hundred and Fifty Thousand Dollars ($350,000) and accrued interest, and in addition thereto a premium of Six Hundred and Sixty Seven Dollars ($667.OO). This bid is made for immediate acceptance and for delivery of the bonds to us within forty-five days from the date of acceptance hereof, you agreeing to furnish us prior to delivery the approving opinion of Messrs. Pershing, Bosworth, Dick and Dawson, Attorneys, Denver, Colorado, which opinion shall recite that these bonds are payable from taxes levied against all of the taxable property in the City within the limits prescribed by law but constituting a first change on said City Taxes, as well as from the revenues derived from sewage charges, which sewage charges the City covenants to maintain sufficient to pay principal and interest on these bonds end pay for the operation and maintenance of the sewer system. As evidence of good faith, we attach hereto our certified check for Seventeen Thousand Five