Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-553

523 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE CITY OF LAS VEGAS, NEVADA: (1) That sewage disposal bonds of the City of Las Vegas in the aggregate principal amount of $350,000.00 shall be sold at public sale to the person or persons offering the best and most advantageous terms to said City. The Mayor and the City Clerk be and they are hereby author­ized and directed to give notice offering said sewage disposal bonds for sale and calling for bids for the purchase of said bonds by publishing a notice once a week for four consecutive weeks by five insertions at weekly Intervals in the Las Vegas Evening Review-Journal, the official newspaper of the City of Las Vegas, and by mailing a copy of such notice at least three weeks prior to the date fixed for the sale of said bonds to the State Board of Finance, Carson City, Nevada, which said notice shall be in substantially the following form: RESOLUTION NO. 119 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 as 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 on 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 & Company By: P. K. Van Wine Manager, Municipal Dept, eo NOW, THEREFORE, be it further resolved that there shall be issued and delivered to the purchasers, their agents or assigns, the $350,000 Las Vegas, Nevada, Sewage Disposal Bonds,