Las Vegas City Commission Minutes, September 21, 1955 to November 20, 1957, lvc000010-87

in the aggregate principal amount of $2,000,000.00, consisting of 2,000 bonds, being numbered consecutively from 1 to 2,000, both inclusive, and maturing serially $100,000.00 on the first day of December in each of the years 1956 to 1975) both inclusive, said bonds being issued for the pur­pose of defraying, in part, the cost of improving the existing sanitary sewer system, by acquiring sites and rights-of-way therefor and acquiring, constructing and establishing additional sanitary sewer lines, an addit­ional sanitary sewerage disposal plant, a sanitary sewer effluent dis­posal system, and other appurtenances to said system. (b) General Obligation Police Detention Bonds, Series December 1, 1955; in the aggregate principal amount of $275,000.00, consisting of 275 bonds, being numbered consecutively from 1 to 275, both inclusive, and maturing serially $9)000.00 on the first day of December, 1956, and $14,000.00 on the first day of December in each of the years 1957 to 1975, both in­clusive, said bonds being issued for the purpose of defraying, in part, the cost of improving the police detention facilities, by establishing, constructing, and otherwise acquiring Las Vegas Police Prison buildings and a suitable site and grounds therefor and extending and bettering the present Las Vegas Police Station Building in order to increase the jail facilities thereof. (c) General Obligation Fire Extinguishing System Bonds, Series De­cember 1, 1955) in the aggregate principal amount of $400,000.00, con­sisting of 400 bonds, being numbered consecutively from 1 to 400, both inclusive, and maturing serially $20,000.00 on the first day of December in each of the years 1956 to 1975) both inclusive, said bonds being is­sued for the purpose of defraying, in part, the cost of improving the municipal Fire Extinguishing System, by acquiring additional fire extin­guishing System, and buildings therefor, together with such additional sites and grounds as may be necessary, and by improving existing fire department buildings and fire extinguishing equipment. (d) General Obligation Fire Alarm System Bonds, Series December 1, 1955, in the aggregate principal amount of $200,000.00, consisting of 200 bonds, being numbered consecutively from 1 to 200, both inclusive, and maturing serially $10,000.00 on the first day of December in each of the years 1956 to 1975, both inclusive, said bonds being issued for the purpose of defraying, in part, the cost of improving the municipal Fire Extinguishing System, by acquiring, constructing and establishing an automatic fire alarm system complete with headquarters building and con­trols and panels. Section That said bonds of each issue shall be dated December 1, 1955, will be in the denomination of $1,000.00 each, and shall bear interest payable semiannually on the first days of June and December in each year, commencing June 1, 1956, bonds maturing in the years 1956 to 1963, both inclusive, bearing interest, evidenced by coupons designated "A", from date until maturity at the rate of four per centum (D%) per annum, and bearing additional interest, evidenced by coupons designated "B", from January 1, 1956, until December 1, 1960, or until maturity, whichever occurs earlier, at the rate of one per centum (1%) per annum, and bonds maturing in the years 1964 to 1975, both inclusive, b earing interest, evidenced by coupons designated "A," from date until maturity at the rate of four and one-quarter per centum (4 - ¼%) per annum, and bearing additional interest, evidenced by coupons designated "B," from January 1, 1956, until December 1, 1960, at the rate of three-quarters of one per centum (3/4%) per annum. If, upon presentation of any bond at maturity, payment is not made as herein provided, interest thereon shall continue at the "A" coupon rate herein above designated for such bond. Both principal and interest shall be payable in lawful money of the United States of America, at the office of the Treasurer of the City of Las Vegas, Nevada, or at the Harris Trust and Savings Bank, Chicago, Illinois, at the holder's option. The bonds of each said issue maturing on the 1st day of December, 1966, and thereafter, are subject to prior redemption in inverse numerical order at the option of the City of Las Vegas on the 1st day of December, 1965) or on any interest payment date thereafter, for the principal a- mount thereof plus accrued interest to the redemption date and a premium of two per centum (2%) of the principal amount thereof. Notice of re­demption shall be given by the City Treasurer in the name of the City of Las Vegas, by publication of such notice at least once, not less than thirty nor more than sixty days prior to the redemption date, in a news­paper of general circulation in the City of Las Vegas, and a copy of such notice shall be sent by registered mail, at least thirty days prior to the redemption date, to John Nuveen & Co., Chicago, Illinois, as representative of the original purchasers of said bonds so to be redeemed. Such notice shall specify the number or numbers of the bonds of each is­sue to be so redeemed (if less than all are to be redeemed), and the date fixed for redemption, and shall further state that on such redemption date there will become and be due and payable upon each bond so to be re­deemed, at the office of the Treasurer of the City of Las Vegas, Nevada, in Las Vegas, Nevada, the principal amount thereof with accrued interest to the redemption date and the stipulated premium, and that from and af­ter such date interest will cease to accrue. Notice having been given in the manner hereinbefore provided, the bond or bonds so called for redemp­tion shall become due and payable on the redemption date so designated, and upon presentation thereof at the office of the City Treasurer of the City of Las Vegas, Nevada, in Las Vegas, Nevada, together will all appur­tenant coupons maturing subsequent to the redemption date, the City of Las Vegas will pay the bond or bonds so called for redemption. 12-9-55