Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-51

Bond Numbers Bond Amount Maturity (All Inclusive) Denomination Maturing Date 6 1,000.00 1,400.00 1954 7 400.00 1954 8 1,000.00 1,400.00 1955 9 400.00 1955 10 1,000.00 1,400.00 1956 11 400.00 1956 12 1,000.00 1,400.00 1957 13 400.00 1957 14 1,000.00 1,400.00 1958 15 400.00 1958 16 1,000.00 1,400.00 1959 17 400.00 1959 18 1,000.00 1,400.00 1960 19 400.00 1960 20 1,000.00 1,400.00 1961 21 400.00 1961 Said bonds and the coupons thereto attached shall be payable in lawful money of the United State of America at the office of the City Treasurer of the City of Las Vegas at Las Vegas, Nevada. Said bonds shall be fully negotiable and shall have all the qualities of negotiable paper, subject to the payment provisions stated herein, and the holder or holders thereof shall possess all rights enjoyed by holders of negotiable instruments under the provisions of the Negotiable Instruments Law. Said bonds shall be signed by the Mayor of the City of Las Vegas, countersigned by the City Trea­surer, and its corporate seal shall be affixed to each bond and attested and countersigned by its City Clerk. The coupons attached to said bonds shall bear the facsimile signature of the Mayor, City Treasurer and City Clerk, which officers, by the execution of said bonds shall adopt as and for their signatures the facsimiles thereof appearing on said coupons, and when said bonds are executed, said coupons shall constitute the bind­ing obligations of said City for said interest. Said bonds and coupons bearing the signatures of the offi­cers in office at the time of the signing thereof shall be the valid and binding obligations of the City of Las Vegas, notwithstanding that before the delivery thereof and payment therefore any or all of the persons whose signatures appear thereon shall have ceased to fill their respective offices. All of said bonds are subject to prior redemption in inverse numerical order at the option of the City on any interest payment date prior to maturity, at a price equal to the principal amount thereof with accrued interest to the redemption date, whenever funds are available therefore. Notice of redemption shall be given by the City Treasurer in the name of the City of Las Vegas by publication of such notice at least once in each calendar week on any day of the week for at least two successive weeks, the first pub­lication to be at least fifteen days prior to the redemption date, in a newspaper of general circulation in the City of Las Vegas, and a copy of such notice shall be sent by registered mail at least fifteen days prior to the redemption date to Hannaford and Talbot, San Francisco, California, and Boettcher and Company, Denver, Colorado, the original purchasers of the bonds. Such notice shall specify the number or numbers of the bonds to be so redeemed (if less than all are to be redeemed) and the date fixed for redemption, and shall, further state that on such redemption date there will become and be due and payable upon each bond so to be redeemed at the office of the City Treasurer in the City of Las Vegas, the principal amount there­of with accrued interest to the redemption date, and that from and after such date interest will cease to accrue. Notice having been given in the manner hereinbefore provided, the bond or bonds so called for re­demption shall become due and payable on the redemption date so designated; and upon presentation thereof at the office of the City Treasurer, together with all appurtenant "A" coupons maturing subsequent to the redemption date, the City of Las Vegas will pay the bond or bonds so called for redemption. Section 3. That said bonds and the interest thereon shall be payable from the special fund here­tofore created, and designated "Assessment District No. 100-4 Street Improvement Bond Interest and Redemp­tion Fund," containing the receipts upon the collection thereof from the special assessments levied against and secured by a lien upon property in said Street Improvement Assessment District No. 100-4, which fund is and shall continue to constitute a sinking fund for and be deemed specially appropriated to the full and prompt payment of said bonds and the interest thereon, and shall be used for no other purpose whatever, provided, however, that in the event said fund shall be insufficient to pay said bonds and the interest thereon as they become due, the deficiency shall be paid out of the City’s general fund. Section 4. That said bonds and the coupons thereto attached shall be in substantially the fol­lowing form: (Bond Form) UNITED STATES OF AMERICA STATE OF NEVADA COUNTY OF CLARK CITY OF LAS VEGAS ASSESSMENT DISTRICT NO. 100-4 STREET IMPROVEMENT BOND SERIES OF JANUARY 1, 1951 $1,000.00 400.00 271.73 No._________ The City of Las Vegas in the County of Clark and State of Nevada, a municipal corporation duly organized and existing, for value received hereby promises, out of funds available for the purpose, as here­inafter set forth, to pay to bearer hereof the principal sum of ONE THOUSAND DOLLARS FOUR HUNDRED DOLLARS TWO HUNDRED SEVENTY-ONE AND SEVENTY THREE HUNDREDTHS DOLLARS on the first day of January, 19 with interest thereon until maturity according to the interest coupons hereto attached, and thereafter until paid at the rate of three and forty-five one hundredths per centum (3.45%) per annum, payable annually on the first day of January in each year, both principal and interest being payable in lawful money of the United States of America, at the office of the City Treasurer, City of Las Vegas, Clark County, Nevada, upon presentation and surrender of this bond and of the annexed coupons as they severally become due.