Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-562

RESOLUTION NO. 143 WHEREAS, under date of February 18, 1949 the Board of Commissioners passed a resolution declaring that an emergency and great necessity existed requiring a temporary loan for the purpose of meeting such necessity and emergency, and; WHEREAS, pursuant to such resolution a notice of the intention of the Board to act thereon was duly published in the Las Vegas Evening Review Journal in its issue of February 20, 1949, reciting that at a meeting of the said Board of City Commissioners to be held on the 8th day of March, 1949 at the hour of 3:00 o'clock P.M. of said day in the Commissioner's Room in the City Hall in Las Vegas, Nevada, said Board would act upon a resolution reciting the character of the necessity and authorizing a temporary emergency loan in the sum of $163,828.61, and, WHEREAS, said Board of Commissioners did meet at the time and place specified, to-wit: on the 8th day of March, 1949 at the hour of 3:00 o'clock P.M. on said day in the Commis­sioner's Room in the City Hall in Las Vegas, Nevada, and; WHEREAS, at said meeting action on said loan was duly postponed by said Board until the 17th day of March, 1949, which postponement was publicly announced by His Honor, the Mayor of the City of Las Vegas, Nevada, at that time, and; WHEREAS, on the 17th day of March, 1949, at the time and place specified in said order of postponement said Conmissioners met, and a full Board being present, said Board unanimously adopted a resolution reciting the existence of a great emergency and necessity for a temporary loan of $163,828.61, and in which resolution a temporary loan in said amount was unanimously authorized for the purpose of meeting the necessity and emergency existing, and; WHEREAS, pursuant to the resolution last above mentioned, a certified copy thereof was forwarded to the State Board of Finance of the State of Nevada for its approval, and; WHEREAS, at its meeting held April 22, 1949 said State Board of Finance approved the action and resolution of the Board of City Commissioners of Las Vegas, State of Nevada, authorizing a temporary loan in the amount of $103,000.00 as in said resolution set forth and authorized, a certified copy of the resolution of said Board of Finance authorizing said temporary loan being in the words and figures following: " STATE BOARD OF FINANCE Meeting held April 22, 1949 RESOLUTION AUTHORIZING Board of City Commissioners of Las Vegas TO MAKE TEMPORARY EMERGENCY LOAN WHEREAS, It being made to appear to the satisfaction of the State Board of Finance duly called and met in session under and pursuant to the provisions of that certain Act of the Legislature of Nevada entitled "An Act Regulating the Fiscal Management of Counties, Cities, Towns, School Districts and other Governmental Agencies," approved March 22, 1917, as amended, that a great necessity now exists for authorizing the obtaining of a temporary loan by and on the part of the Board of City Commissioners of Las Vegas for the purpose of meeting such emergency as expressed in and shown by the preamble and resolution unanimously adopted at a meeting of said Board of City Commis­sioners of Las Vegas duly called and held on the 8th day of March, 1949, authorizing a temporary loan for the purpose set forth in said resolution, a duly certified copy of which is now on file and of record in the office of the State Board of Finance; and WHEREAS, It further appearing that notice of intention to adopt said emergency resolution was duly published according to law; therefore, be it RESOLVED, By the State Board of Finance, that said act and resolution of said Board of City Commissioners of Las Vegas, State of Nevada, authorizing a temporary loan of One Hundred Three Thousand Dollars ($103,000.00) as in said resolution set forth and authorized, be and the same is hereby approved; and be it farther RESOLVED, That a duly certified copy of this resolution be transmitted by the Secretary of the State Board of Finance to said Board of City Commissioners of Las Vegas in order that the same may be recorded in the minutes of the meeting of said Board of City Commissioners of Las Vegas, as provided by law," which certified copy was upon motion duly made, seconded and unanimously carried by the said Board of City Commissioners, ordered to be recorded in the minutes of this Board of City Commis­sioners, and; WHEREAS, the Board of Commissioners being authorized to make an emergency loan in the sum of One Hundred Three Thousand Dollars ($103,000.00) to meet the emergency set forth in the resolution by this Board adopted at its meeting held on the 17th day of March, 1949, as afore­said, and did on the 24th day of April, 1949, pursuant to such resolution, cause to be published a notice in the Las Vegas Evening Review Journal calling for invitations for bids on said emergency loan, and; WHEREAS, the time and date for the opening of bids for said emergency loan was set at 3:00 P.M. on the 27th day of April, 1949, and; WHEREAS, the Board of Commissioners did on the 27th day of April, 1949, recess the regular meeting until the 20th day of May, 1949, and; WHEREAS, on the 20th day of May, 1949, the Board of Commissioners accepted the bid on the said emergency loan by the First National Bank of Nevada in the amount of Fifty-three Thousand Dollars ($53,000.00) and the bid of the State of Nevada Public Employees Retirement Commission in the amount of Fifty Thousand Dollars ($50,000.00) to mature not later than two and one-half (2 1/2) years from the date of issuance and to bear interest not to exceed three percent (3%) per annum and be redeemable at option of the City of Las Vegas at any time when money is available.