Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-257

235 owners, the following question: "Shall the City of Las Vegas issue bonds in the sum of $350,000.00 to secure the necessary funds to finance the construction of a sewage disposal plant?" AND, WHEREAS, thereafter on May 16, 1947, the Board of Commissioners of the City of Las Vegas met for the purpose of canvassing the votes upon said question cast at the municipal election held on May 6, 1947, and they found and declared that said question for the issue of bonds for the said purpose and in the amount aforesaid was carried by the approving vote of a majority of the qualified electors, both property owners and non property owners; NOW, THEREFORE, THE BOARD OF COMMISSIONERS OF THE CITY OF LAS VEGAS, NEVADA, DOES ORDAIN: Section 1. That all proceedings heretofore taken by the Board of Commissioners and by the officials of the City of Las Vegas directed toward the issuance of Three Hundred Fifty Thousand Dollars ($350,000) Sewage Disposal Bonds be, and the same are hereby ratified, approved and confirmed. Section 2. That for the purpose of constructing a sewage disposal plant as part of and in connection with the sewerage system of said City, for the use of the City of Las Vegas, pursuant to the powers vested in said City and its Board of Commissioners under the Charter of said City and the general laws of the State of Nevada, there be issued bonds of said City of Las Vegas designated "Las Vegas, Nevada, Sewage Disposal Bonds, Series of May 1, 1948" in the aggregate principal amount of Three Hundred Fifty Thousand Dollars ($350,000), consisting of 350 bonds in the denomination of $1,000.00 each, bearing interest at the rate of not more than three per cent (3%) per annum, both principal and interest being payable at the office of the City Treasurer in any coin or currency of the United States of America, which on the respective dates of payment is legal tender for the payment of public and private debts, all dated as of May 1, 1948, numbered consecutively from 1 to 350, both numbers inclusive, and maturing serially Eight Thousand Dollars ($8,000.00) May 1, 1949, and Eighteen Thousand Dollars ($18,000.00) on May 1st in each of the years 1950 to 1968, both inclusive. Interest on said bonds shall be payable semi-annually commencing November 1, 1948 and on the first days of May and November in each year thereafter until the principal of said bonds has been fully paid and discharged. Bonds numbered 81 to 350, both inclusive, maturing on and after May 1, 1954, are subject to redemption in inverse numerical order at the option of the City of Las Vegas on the first day of May, 1953, or on any interest payment date thereafter prior to maturity at a price equal to the principal amount thereof with accrued interest to the redemption date. Notice of redemption shall be given by the County Treasurer of Clark County, Nevada, as Ex-officio Treasurer of the City of Las Vegas in the name of the City of Las Vegas by publi­cation of said notice at least once in each calendar week on any day for at least four successive weeks 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 thirty days prior to the redemption date to the purchaser or purchasers of said 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 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 ao designated and upon presentation thereof at the office of the City Treasurer, to-gether with all appurtenant coupons maturing sub­sequent to the redemption date the City of Las Vegas will pay the bond or bonds so called for redemption. Section 3. Said bonds shall be signed by the Mayor of the City of Las Vegas, shall be attested by the City Clerk of the City of Las Vegas under the seal of said City, and shall be countersigned by the by the County Treasurer of Clark County, Nevada, as Ex-officio City Treasurer of the City of Las Vegas. The coupons attached to said bonds shall be ar the facsimile signature of said City Treasurer, which officer by the execution of said bonds shall adopt as and for his signature the facsimile thereof appearing on said coupons. Section 4. That said bonds and the coupons attached thereto shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF NEVADA LAS VEGAS SEWAGE DISPOSAL BONDS SERIES OF MAY 1, 1948 No._____ $1,000.00 The City of Las Vegas, in the County of Clark, State of Nevada,