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Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-83

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lvc000002-083
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    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 5,1923, the City of Las Vegas was authorized to issue its bonds in a sum not to exceed $50,000 for the purposes of constructing a highway through the City of Las egas 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 the 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 Dollars ($50,000) was submitted to the qualified electors of the City of Las Vegas, in the County of Clark, State of Nevada, at a general city election held in said City of Las Vegas on the 8 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 city 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 Dollars ($50,000); and WHEREAS, it appears to this Board that the issuance of not to exceed Fifty Thousand Dollars ($50,000), of said highway bonds have been authorized by said Act of the Legislature of the State of Nevada, and such issuance ratified by the vote of 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 Las Vegas Highway Bonds in the sum of Thirty Thousand Dollars ($30,000) of said authorized issue of Fifty Thousand Dollars ($50,000) of said bonds; NOW THEREFORE, BE IT RESOLVED that pursuant to and in compliance with the provisions and authority of said above mentioned Act, and the ratification thereof at said general city election, as aforesaid, it be and is hereby ordered that prior to the 1st day of September 1923, bonds of said City of Las Vegas in an aggregate amount of not to exceed Thirty Thousand Dollars ($30,000) exclusive of interest, (being a part of said issue so authorized of $50,000 of Las Vegas Highway bonds) for the purpose of providing funds 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, be prepared and ready for issuance; that said bonds as so prepared shall be each in the sum of One Thousand Dollars ($1000.00), numbered from one to thirty consecutively, and shall bear annual interest at the rate of six per centum (6%) per annum from the date thereof, payable semi-annually on the 1st day of July and the 2nd day of January of each year, payable at the office of the City Treasurer of said City of Las Vegas ,in the City of Las Vegas, County of Clark, State of Nevada; that said bonds shall be designated "Las Vegas Highway Bonds (1923 series)" and shall be dated September 1,1923, and that said bonds shall be negotiable coupon bonds and shall mature and become payable as follows: Bonds 1 and 2 to become due and payable on or before the 1st day of July, 1925; Bonds 3 and 4 to become due and payable on or before the 1st day of July, 1926; Bonds 5 and 6 to become due and payable on or before the 1st day of July, 1927; Bonds 7 and 8 to become due and payable on or before the 1st day of July, 1928; Bonds 9 and 10 to become due and payable on or before the 1st day of July, 1929; Bonds 11 end 12 to become due add payable on or before the 1st day of July, 1930; Bonds 13 and 14 to become due and payable on or before the 1st day of July 1931;