Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-92

August 27, 1923 Honorable Board of City Commissioners City of Las Vegas, Nevada. Gentlemen: For §30,000, par value, City of Las Vegas Highway Bonds (1923 Series), to be dated September 1st, 1923, to be in denomination of $1,000 each, to mature serially without option of prior payment as follows; §2,000 July 1st, 1925, and $2,000 each year thereafter up to and including July 1st, 1939, both principal and interest to be payable at the office of the City Treas­urer of the City of Las Vegas, Nevada, interest payable semi­annually on the 2nd days of January and the 1st day of July in each year, each of said bonds to have attached thereto interest coupons representing the interest to the maturity of said bonds. We will pay you upon delivery of said bonds to us in Salt Lake City, Utah, free from exchange or collec­tion charges, as follows: Fro bonds bearing interest at the rate of 6% per annum, we will pay you the cum of §1011.70 and accrued interest for each $1,000 of bonds issued and delivered to us. For bonds bearing interest at the rate of 5 3/4% per annum, we will pay you the sum of §993.16 and accrued interest for each §1000 of bonds issued and delivered to us. For bonds bearing, interest at the rate of 5 1/2% per annum, we will pay you the sum of §976.20 and accrued interest for each §1,000 of bonds issued and delivered to us. Prior to the delivery of said bonds to us we are to be furnished with a complete certified transcript of all proceedings had incident to the issuance of said bonds, evidencing their legality to the satisfaction of our attorneys, and you agree to adopt such further proceedings and take such steps as our attorneys may direct to the end that said bonds may in their opinion be legally issued and delivered to us without undue or unnecessary delay . The attached certified check for $300 payable to the order of the City Clerk of the City of Las Vegas, Nevada, is to be forth­with returned to our representative if this offer which is for immediate acceptance only, is rejected or if the legality of the issue is not approved by our attorneys Otherwise, it is to be retained by you as an evidence of our good faith in this transaction, and applied as part payment for said bonds when same are delivered to us in accordance with the terms of this offer, or is to be forfeited to the City of Las Vegas, Nevada, as full liquidated damages in the event that we fail or refuse to accept end pay for said bonds when same are tendered to us in accordance with the terms of this offer. Respectfully submitted, PALMER BOND & MORTGAGE COMPANY By Edwin S. Felt SUPPLEMENTARY OFFER. Honorable Mayor and City Commissioners, Las Vegas, Nevada. Gentlemen: In the event the City of Las Vegas will sell bonds maturing twenty years after date instead of bonds due serially we will pay you $10 per bond more or $300 more than our offer for bonds as advertised. PALMER BOND & MORTGAGE COMPANY By Edwin S. Felt August 24,1923. Mrs. Florence S. Doherty, City Clerk, Clark County, Las Vegas, Nevada. Dear Mrs. Doherty: The State of Nevada bids §31,424.40 and accrued interest to date of delivery for that block of Las Vegas High­way Bonds of a par value of §30,000 bearing interest at 6 percent per annum and maturing in accordance with your advertise­ment of July 19,1923. Very sincerely yours, Gilbert C. Ross Secretary, State Board Finance