Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-599

568 213 Commissioner Moore introduced and moved the adoption of the following resolution, which was thereupon read in full, and at length, and is as follows: WHEREAS, the City of Las Vegas, in the County of Clark, and State of Nevada and the of icers thereof, have taken action to improve certain streets and parts of streets therein; and WHEREAS, said City has created Street Improvement Assessment District No. 100-4 for the purpose of making said improvements; and WHEREAS, said City assessed the entire cost and expense of making said improvements, including all Incidental expenses which may be legally included in the sums assessed, against the owners and the assessable lots, premises and property specially benefited by such improvements and included within said District; and WHEREAS, said assessments aggregate the principal sum of $l5,599.96 and WHEREAS, said City heretofore provided that said assessments were due and payable at the office of the County Treasurer of Clark County, Nevada, acting ex-officio City Treasurer and ex-officio Tax Collector of said City, without interest and without demand, within one week after the special assessment roll for said District was confirmed and approved; and WHEREAS, said roll was confirmed and approved on the 17th day of January, 1931; and WHEREAS, within said week there was paid the aggregate sum of $979.32, and there remains unpaid assessments in the aggregate principal amount of $l4,27l.73; and WHEREAS, said City heretofore provided that the failure to pay the whole of any assessment, or any part thereof, within said period of one week should be conclusively considered and election on the part of all persons interested to pay said assessment in ten substantially equal annual installments of principal, the first of which installments of principal shall be due and payable on or before the 1st day of December, 1931, and annually thereafter on the same day in each year until paid, at the same rate of interest as that provided for the special assessment bonds to be thereafter authorized, sold, issued and delivered, but not to exceed seven per centum (7%) per annum; and WHEREAS, said City and the officers thereof have determined, and do hereby determine, that it is necessary and for the best interests of said City and the inhabitants thereof that it issue its Assessment District No. 100-4 Street Improvement Bonds, Series of Jan­uary 1, 1951, in an aggregate principal amount equal to the aggregate principal amount of said unpaid assessments, to-wit, $l4,271.73, to defray said entire cost and expense of making said improvements, except to the extent funds are available therefor from the assessments which have been heretofore paid; and WHEREAS, said city and the officers thereof desire to sell said bonds after public advertisement therefor, pursuant to the laws of the State of Nevada and the City of Las Vegas. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE CITY OF LAS VEGAS, NEVADA: That the special assessment, negotiable coupon, Assessment District No. 100-4 Street Improvement Bonds, Series of January 1, 1931, of the City of Las Vegas, in the aggregate principal amount of $l4,271.73 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 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: NOTICE OF SALE OF CITY OF LAS VEGAS, NEVADA, ASSESSMENT DISTRICT NO. 100-4 STREET IMPROVEMENT BONDS SERIES OF JANUARY 1, 1931 $14,271.73 NOTICE IS HEREBY GIVEN that the City of Las Vegas, Clark County, Nevada will on the 28th day of February, 1931, at 3:30 o'clock P.M. at the City Hall in Las Vegas, Nevada, offer for sale receive sealed bids and pub­licly open the same for, the following described special assessment negotiable coupon bonds of said City. City of Las Vegas Assessment District No. 100-4 Street Improvement Bonds, Series of January 1, 1951, in the aggregate principal amount of $l4,271.73, dated January 1, 1951, consisting of twenty-one bonds numbered consecutively from 1 to 21, both inclusive, being in the denominations of $1,000 and $400.00, except bond numbered one is in the denomination of $271.73, maturing serially in regular numerical order on the first day of January, $1673.73 in the year 1932, and $1400.00 in each of the years 1933 to 1961, both inclusive, all bonds being subject to prior redemption on any interest payment date in inverse numerical order at the option of the City whenever funds are available therefor, after fifteen days published notice, upon the payment of the principal amount thereof with accrued interest to the redemption date, and bearing interest payable annually at a rate of not exceeding seven per centum (7%) per annum, both principal and interest being payable at the office of the City Treasurer at Las Vegas, Nevada. Said bonds and the interest thereon are payable from a special fund designated "Street Improvement Assessment District No. lOO-4 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 Street Improvement Assessment District No. 100-4 in said City, said assessments bearing interests payable annually on each principal paying date at the same rate of interest as borne by said bonds and being payable in ten substantially equal annual installments of principal on or before December 1, 1951, and on or before the same day in each year thereafter until paid in