Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-208

Thereupon the following Resolution was adopted upon motion of Commissioner Mundy, seconded by Commissioner Smith: WHEREAS, pursuant to and in strict compliance with the provisions and authority of the Con­stitution and laws of the State of Nevada, being an Act of the Senate and Assembly of the State of Nevada, entitled: "An Act authorizing the Board of City Commissioners of the City of Las Vegas, County of Clark, to issue bonds to provide for the construction of a highway through said City of Las Vegas to connect with route 6 of the State Highway System of the State of Nevada, and providing for the rat­ification thereof by special or general election before the issuance of any such bonds," approved Mar­ch 5th, 1923, the City of Las Vegas was authorized to issue its bonds in a sum not to exceed $50,000.00 for the purpose of constructing a highway through the City of Las Vegas to connect with Route 6 of the State Highway System of the State of Nevada; and WHEREAS, pursuant to each of the requirements of said act, and particularly with requirements of Secs. 2, 3, 4, and 5 of said Chapter 74 of the laws of 1923 of the State of Nevada, the question of the issuance of highway bonds of the City of Las Vegas in the amount of Fifty Thousand ($50,000.00) Dollars was submitted to the qualified electors of the City of Las Vegas in the County of Clark, State of Nev­ada, at a general election of said City of Las Vegas held in said City of Las Vegas on the Pth day of May, 1923, notice of which election having been first duly given strictly as provided by law, and at which election more than a majority of the votes cast were in favor of the issuance of said bonds, and the result of the vote upon said question of the issuance of said bonds having been duly certified to this Board by the election boards conducting said election and the result of the vote on said question of the issuance of said bonds having been by this Board at a meeting duly and regularly held on the 16th day of May, 1923, declared in the manner and form and at the same time as other returns of said general election were canvassed and proclaimed ; and WHEREAS, it appears to this Board that the qualified electors of said City of Las Vegas have authorized the issuance of highway bonds of the City of Las Vegas in the amount of Fifty Thousand ($50, 000.00) Dollars, and WHEREAS, it appears to this Board that the issuance of not to exceed Fifty Thousand ($50,000.00 Dollars of said highway bonds have been authorized by said Act of the Legislature of the State of Nev­ada, and such issuance by the bote of the qualified electors of the City of Las Vegas at a general City election, held as aforesaid, and WHEREAS, the Board of Commissioners of the City of Las Vegas deems it advisable for the best interests of the City of Las Vegas, that it offer for sale at this time, at private sale, Las Vegas Highway Bonds in the sum of Six Thousand ($6,000.00) Dollars of said authorized issue of Fifty Thou­sand ($50,000.00) Dollars, and said Board having received the offer of the State Board of Finance of the State of Nevada for the sum of Six Thousand Two Hundred Eighty-four and Eight eight hundredths ($6,284.88) Dollars and accrued interest, and having also received an offer from the First State Bank of Las Vegas, Nevada for the sum of Six Thousand Two Hundred Eighty-four and eighty-eight hundredths ($6,284.88) Dollars and accrued interest, as is more fully set forth in their hereinabove mentioned, said bids being in excess of par and accrued interest, and said sum of ($6,284.88) being in the judg­ment of the Board the highest and best bid that could be secured at this time, and it appearing to the Board that it is to the best interests of the City of Las Vegas to sell said bonds to the local bank the First State Bank of Las Vegas, Nevada, the bid of said Bank being as high as any bid received NOW, THEREFORE, BE IT RESOLVED that the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, does hereby accept the bid of said First State Bank of Las Vegas, Nevada, of Six Thousand Two Hundred Eighty-four and Eighty-eight hundredths ($6,284.88) Dollars and accrued in­terest, said bid being in excess as par and accrued interest, and BE IT FURTHER RESOLVED AND ORDERED by the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, as follows; Section 1. That for the purpose of providing funds to be used in aiding in the improvement of Fifth Street, from the corner of Fremont and Fifth streets to the southwest city limits, a distance