Las Vegas City Ordinances, March 31, 1933 to October 25, 1950, lvc000014-286

NOTICE OF SALE OF CITY OF LAS VEGAS, NEVADA SWIMMING POOL BONDS, SERIES A $100,000.00 - APRIL 1, 1947 NOTICE IS HEREBY GIVEN that the City of Las Vegas, Clark County Nevada will on the ______ day of April, 1947 at _________o'clock _____.M. at the City office in Las Vegas, Nevada, offer for sale the following described general obligation bonds of said City: City of Las Vegas Swimming Pool bonds, Series A, dated April 1, 1947, in the aggregate principal amount of $100,000.00, numbered from 1 to 100, both inclusive, in the denomination of $1,000.00 each, maturing serially in numerical order $5,000.00 on the first day of April in each of the years from 1948 to 1967, both inclusive, bonds numbered 26 to 100, both inclusive, maturing on the first day of April in each of the years from 1953 to 1967, both inclusive, being subject to redemp­tion in inverse numerical order at the option of the City on the first day of April, 1952, or on any interest payment date thereafter upon the payment of the principal amount thereof and accrued interest to the redemption date, and all of said bonds bearing interest at a rate not to exceed three per centum per annum, payable semiannually on the first days of April and October in each year, both principal and interest being payable at the office of the City Treasurer, Las Vegas, Nevada. Bidders are required to submit a bid specifying (a) the lowest rate of interest and premium, if any, above par at which the bidder will purchase said bonds; or (b) the lowest rate of interest at which the bidder will purchase said bonds at par. The bonds will be sold to the bidder making the best bid, subject to the right of the corporate authorities of the City of Las Vegas to reject any and all bids and re-advertise. None of said bonds shall be sold at less than par and accrued interest nor will any discount or commission be allowed or paid on the sale of such bonds. All bids shall sealed and, except the bid of the State of Nevada, shall be accompanied by a deposit of five per cent., either cash or certified check, of the amount of the bid, which will be re­turned if the bid is not accepted; and if the successful bidder shall fail or neglect to complete the purchase of said bonds within thirty days following the acceptance of his bid, the amount of his deposit shall be forfeited to the City of Las Vegas, and, in that event, the corporate authorities of said City may accept the bid of the one making the next best bid, or if all bids are rejected, such authorities may re-advertise said bonds for sale. If there be two or more equal bids and such bids are the best bids received, and are not less than par and accrued interest, the corporate authorities will determine which bid shall be accepted. The legality of the bonds will be approved by Messrs. Pershing, Bosworth, Dick & Dawson, Attorneys at Law, Denver, Colorado, whose opinion, together with the printed bonds, will be furnished the purchaser without charge. Dated at Las Vegas, Nevada, this ________ day of ________________A. D. 1947. Mayor (SEAL) Section 8. That when said bonds have been duly executed and sold, the City Treasurer of the City of Las Vegas shall deliver them to the lawful purchaser thereof on receipt of the purchase price. The funds realized from the sale of said bonds shall be applied solely to the acquisition and establishment of two municipal swimming pools and facilities incidental thereto, but the purchaser of said bonds shall in no manner be re­sponsible for the application by said City or any of its officers of any of the funds derived from the sale thereof.