Las Vegas City Commission Minutes, February 17, 1937 to August 4, 1942, lvc000004-46

1. To act upon business pertaining to amendatory application for street work in Las Vegas 1937 Improvement District No. 3. District 2. To act upon the signing and disposal of Las Vegas 1937 Improvement/No. 3 bonds. You will govern yourselves accordingly. Viola Burns, City Clerk ACCEPTANCE OF SERVICE WE, the undersigned Mayor and Commissioners of the City of Las Vegas hereby admit due service of the foregoing notice of special meeting. L.L. Arnett Jas. H. Down Herbert Krause Mayor Commissioner Commissioner H.P. Marble H.L. Perry Commissioner Commissioner Minutes of a Special meeting of the Board of Commissioners of the City of Las Vegas held on the 3rd day of June, 1937 at the hour of three o'clock P.M. Present Mayor Arnett, Commissioners Down, Krause, Marble and Perry City Attorney and Clerk Mr. Austin present as City Attorney for the first time. Absent none. The City Clerk presented to the Board the printed forms of bonds authorized by the terms of Ordinance No. 223 of the City of Las Vegas, entitled: "An Ordinance authorizing the Board of Commissioners of the City of Las Vegas, Clark County, Nevada to borrow Sixteen Thou­sand Five Hundred Ninety-seven and 95/100 ($16,597.95) Dollars, to cover certain unpaid assessments heretofore levied and confirmed by the Board of Commissioners of the City of Las Vegas for the purpose of paying for work of making improvements in the City of Las Vegas by grading for and the construction of oil bound gravel pavements on certain streets and por­tions of streets in the City of Las Vegas and particularly described in what is called "Las Vegas 1937 Improvement District No. 3", and to issue and sell the bonds of the City of Las Vegas therefor, said bonds to be known as "Las Vegas 1937 Improvement District No. 3 Bonds", and providing for the collection of the said unpaid assessments by dividing the same into ten (10) annual installments and placing said installments on the tax roll of Clark County and collecting the same in the same manner as state and taxes are collected by law, and other matters relating thereto." The Clerk stated that the transcript of the proceedings relative to the said bond issue had been prepared and the legality thereof approved of and that the bonds were ready for the approval of the Board and for the official signatures of the officers provided by law for the signing of the same. Thereupon, upon motion of Commissioner Marble, seconded by Commissioner Perry the following preambles and resolution were duly adopted upon the affirmative vote of Commission­ers Down, Marble, Perry and Krause and his Honor, the Mayor; noes none, to-wit: Whereas, under and by virtue of the terms of Ordinance No. 223 of the City of Las Vegas, there has been prepared and now are ready for official signature and issuance twenty (20) bonds to be known as "Las Vegas 1937 Improvement District No. 3 Bonds" as follows: ten (10) bonds in the sum of One thousand Dollars ($1,000.00) each maturing in ten (10) equal annual installments, the first bond being due and payable on the first day of January, 1938, and one (1) bond in the sum of Six Hundred Fifty-four Dollars Fifty-five cents ($654.55), being payable on the first day of January, 1938, and nine (9) bonds in the sum of Five Hundred Dollars ($500.00) each, the first one of which being payable on the first day of January each subsequent year thereafter until all of the said bonds are paid in full, and all of the said bonds bearing interest at the rate of seven percent (7%) per annum, the interest being pay­able on the first day of January of each year, and Whereas, the said bonds being numbered from one (1) to twenty (20) consecutively and all of which said bonds are dated January 1, 1937, and are payable at the office of the City Treasurer of the City of Las Vegas and are made payable according to their consecutive numbers as follows: Bonds Nos. 1 and 2 in the sum of $1,000.00 and $654.55, respectively, being payable on the first day of January, 1938; and Bonds Nos. 3 and 4 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1939; and Bonds Nos. 5 and 6 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1940; and Bonds Nos. 7 and 8 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1941; and Bonds Nos. 9 and 10 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1942; and Bonds Nos. 11 and 12 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1943; and Bonds Nos. 13 and 14 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1944; and Bonds Nos. 15 and 16 in the Sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1945; and Bonds Nos. 17 and 18 in the sum of $1,000.00 and $500.00, respectively, being pay­able on the first day of January, 1946; and Bonds Nos. 19 and 20 in the sum of $1,000.00 and $500.00, respectively, being payable on the first day of January, 1947, and Whereas, the payment and redemption of the said bonds shall be in the order of their issuance, the lowest bonds in serial number to be the first paid and redeemed and so on un­til the whole amount of said bonds authorized to be issued shall have been paid and redeemed, and Whereas, each of the said bonds have coupons attached representing each interest install­ment to date of maturity of the principal and both principal and interest of said bonds are made payable in legal tender of the United States of America at the office of the City Trea­surer of the City of Las Vegas, Nevada, and