Las Vegas City Commission Minutes, May 14, 1929 to February 11, 1937, lvc000003-102

Thereupon, on motion of Commissioner Hansell seconded by Commissioner German the following Resolution was duly adopted: Resolved that the form of bond as presented to this meeting by the City Attorney and as hereinabove set out in these minutes be and the same is hereby adopted and approved, including the form of coupon, and that the form of the bonds in said series in the prin­cipal sum of Nine Hundred Fifty-nine and 51/100 Dollars each and the coupons thereon be the same as said bonds for $1000 each, except as to the necessary variations of amounts of the principal sums thereof and the amounts of interest, and BE IT FURTHER RESOLVED, that the said coupons on each and all of said bonds shall be countersigned with the facsimile signature of F.C. Devinney, City Assessor of the City of Las Vegas. The vote on said Resolution was as follows: Commissioners Smith, German, Hansell and His Honor the Mayor Hesse, voting aye. Noes none. The City Attorney thereupon next presented to the Board a form of bond authorized by the terms of Ordinance NO. 158 of the City of Las Vegas, entitled, "An Ordinance author­izing the Board of Commissioners of the City of Las Vegas, Clark County, Nevada, to bor­row Thirty four thousand Eight Hundred Ninety-eight and 92/100 Dollars ($34,898.92) to cover certain unpaid assessments heretofore levied and confirmed by the Board of Com­missioners of the City of Las Vegas for the purpose of paying for the work of making improvements in the City of Las Vegas, by grading for and constructing Hydraulic Cement Concrete Curb and Gutter and Rough Grading for Street Improvement on certain streets, and portions of streets in said City, to-wit: On Main Street, First Street, Second Street, Third Street, Fourth Street, Lewis Street, Clark Street, Bonneville Street, and Garces Street, to issue and sell the bonds of the City of Las Vegas therefor, said bonds to be known as "Las Vegas Special 1930 Curb and Gutter Bonds, Series D," and providing for the collection of said unpaid assessments by dividing the same into ten (10) annual install­ments and placing said installments on the Tax Roll of Clark County and collecting same in the same manner as State and County taxes are collected by law." The City Attorney stated that the transcript of the proceedings relative to said bond issue had been pre­pared and was about to be sent to the purchaser of said bonds, Snow Goodart & Company of Salt Lake City, Utah, for submission to their attorneys in accordance with its bid and contract therefor, and asked that the Board consider and adopt the form of bond presented by him to the Board, in the following form, to-wit: (Form of Bond) No.____________ $1000.00 UNITED STATES OF AMERICA State of Nevada City of Las Vegas County of Clark. Las Vegas Special 1930 Curb and Gutter Bonds, Series D. KNOW ALL MEN BY THESE PRESENTS: That the City of Las Vegas, a Municipal Corporation, existing under and by virtue of the laws of the State of Nevada, for value received, acknowledge itself indebted to, and hereby binds itself and promises to pay to the bearer One Thousand Dollars ($1,000.00) in gold coin of the United States of America, at the office of the City Treasurer of said City, in the City of Las Vegas, Clark County, Nevada, on the _________day of 19______., with interest thereon from date hereof at the rate of seven per cent (7%) per annum until paid: said interest payable annually on the first day of January of each year hereafter, during the term of this bond, upon the presentation and surrender of the proper coupons as they severally become due and payable, both principal and interest payable in gold coin of the United States of America, at the office of the City Treasurer, in the City of Las Vegas, County of Clark, State of Nevada. This bond is one of a series of Forty bonds as follows: Thirty (30) bonds in the de­nomination of One Thousand Dollars ($1,000.00) each, payable in ten (10) annual installments of three bonds each, commencing on the 1st day of January A.D., 1931. and ten bonds of the denomination of Four Hundred Eight-nine and 89/100 Dollars ($489.89) payable in ten (10) annual installments, commencing on the 1st day of January, A.D., 1931. Three (3) bonds in the denomination of One Thousand Dollars ($1,000.00) each, to­gether with the interest thereon, to paid on the 1st day of January, A.D., 1951 and three (5) bonds of the denomination of One Thousand Dollars ($1,000.00) each, together with the interest thereon to be paid on the 1st day of January of each year thereafter and one (1) bond of the denomination of Four Hundred Eight-nine and 89/100 Dollars ($489.89), together with the interest thereon, to be paid on the first day of January A.D., 1951 and one (1) of the denomination of Four Hundred Eight-nine and 89/100 Dollars ($489.89), together with the interest thereon, to be paid on the 1st day of January of each year thereafter, and con­tinuing until all of said bonds, together with the interest thereon are fully paid; authorized by virtue of the provisions of the authority contained in that certain Act of the Leg­islature of the State of Nevada, entitled "An Act to authorize municipalities to issue bonds for the purpose of paying the cost of municipal improvements for which special assess­ments are levied," approved March 13, 1909, as amended by an Act of the Legislature of the State of Nevada, entitled, "An act to amend sections one and two of an Act entitled, 'An Act to authorize municipalities to issue bonds for the purpose of paying the cost of mun­icipal improvements for which special assessments are levied,' approved March 13, 1913, and of City Ordinance No. 150, of the City of Las Vegas, approved December 5, 1929, and City Ordinance No. 152 of the City of Las Vegas, approved January 2, 1950, and City Ordinance No. 158 of the City of Las Vegas, approved day 1st, 1930, and of the proceedings of the Board of City Commissioners of the City of Las Vegas, State of Nevada, had and taken under and by virtue of the provisions of the said Acts of the Legislature of the State of Nevada, and of the City Charter of the City of Las Vegas, and said Ordinances. It is hereby certified that all of the acts., and things and conditions re­quired to be done precedent to and in the issuance of this bond have been done, happened and performed as required by law, and in the event that the Fund created by special assessment as in said Ordinances Nos. 150, 152, and 158, of the City of Las Vegas contained, shall be insufficient to pay this bond in full, as the same becomes due, together with the interest thereon, the deficiency shall be paid by the City of Las Vegas out of its General Fund, and the City of Las Vegas thus binds itself.