Las Vegas City Commission Minutes, May 26, 1952 to February 17, 1954, lvc000008-455

Said special assessments made and levied to defray said cost, with accruing interest thereon, constitute a lien upon and against the property upon which such assessments were made and levied from and after the 6th day of May, 1953, the date upon which the assessment roll therefor was confirmed and approved by the Board of Commissioners of said City. It is hereby certified, recited and declared thal all acts, conditions and things essential to the validity of the bond exist, have happened and have been done in due time, form and manner as required by law, and that the total issue of said improvements and incidental expenses, including this bond, does not exceed the amount authorized by law nor the special assessments levied to cover the cost of said improvements. It is hereby further certified, recited and declared that the proceedings, with reference to making such improvements and levying the assessments to pay therefor, have been regularly had and taken in compliance with law, and that all prerequisites to the fixing of the assessment lien against the property benefited by the improvements and of the personal liability of the owner or owners of such property therefor have been performed. This bond is subject to the condition, and every holder hereof by accepting the same agrees with the obligor and every subsequent holder hereof, that (a) the delivery of this bond to the transferee shall vest title in this bond and in the interest coupons attached hereto in such transferee to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to bearer; (b) the obligor and any agent of the obligor may treat the bearer of this bond as the absolute owner hereof for all purposes, and shall hot be affected by any notice to the contrary; (c) the principal of and the interest on this bond shall be paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any set-offs or cross-claims; and (d) the surrender to the obligor or any agent of the obligor of this bond and each of the coupons shall be a good discharge to the obligor for the same. IN WITNESS WHEREOF, The City of Las Vegas, Nevada, has caused this bond to be signed by its Mayor, countersigned by its City Treasurer, and its corporate seal to be affixed hereto and attested and countersigned by its City Clerk, and the annexed coupons to bear the faxsimile signatures of said officials, and this bond to be dated as of the first day of June, 1953. (Do not Sign) Mayor Countersigned: (Do not Sign) City Treasurer (SEAL) Attested and Countersigned: (Do not Sign)____________ City Clerk Section 5. That when said bonds have been duly executed, the City Treasurer in 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 the bonds shall be applied solely to defray the cost and expense of making said improvements, 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. Section 6. That the officers of the City of Las Vegas be, and they hereby are, authorized and directed to take all action necessary or appropriate to effectuate the provisions of this ordinance, including, without limiting the generality of the foregoing, the printing of said bonds and the execution of such certificates as may reasonably be required by the purchasers thereof, relating, inter alia, to the signing of the bonds, the tenure and identity of the municipal officials, the amounts certified on the assessment roll together with the amount of cash payments, the accuracy of property descriptions, the receipt of the assignable certificates and the delivery of the bonds, and the absence of litigation pending or threatened affecting the validity of the bonds. Section 7. That after said street improvement bonds are issued, this ordinance shall be and remain irrepealable until said bonds and the interest thereon shall be fully paid, certified and discharged, as herein provided. Section 8. That all ordinances or resolutions, or parts thereof, in conflict with the provisions of this ordinance, are hereby repealed. This repealer shall not be construed to revive any ordinance, nor resolution, or part thereof, heretofore repealed. Section 9. That if any one or more sections, sentences, clauses or parts of this ordinance shall, for any reason, be questioned or be held invalid, such judgment shall not affect, impair or invalidate the remaining provisions of this ordinance, but shall be confined in its operation to the specific sections, sentences, clauses or parts of this ordinance so held unconstitutional and invalid, and the inapplicability and invalidity of any section, sentence, clause or part of this ordinance, in any one or more instances shall not affect or prejudice in any way the applicability and validity of this ordinance in any other instances. 7-1-53