Las Vegas City Commission Minutes, August 11, 1942 to December 30, 1946, lvc000005-378

BE IT FURTHER RESOLVED, that the Clerk of the Board of City Commissioners is hereby authorized and directed to immediately mail to the State Board of Finance, at Carson City, Nevada, a copy of the notice of sale. RESOLUTION Police Bond Commissioner Bates Introduced and moved the adoption of the following resolution: RESOLUTION WHEREAS, at the general election held on Tuesday, the 8th day of May, 1945, there was authorized the issuance of $140,000 of general obligation bonds for the construction of a Police Station and Facilities in the City of Las Vegas, Nevada, and it is the opinion of the Board of City Commissioners of the City of Las Vegas, Nevada, that these bonds should be sold as soon as legally possible. NOW, THEREFORE, BE IT RESOLVED, that the Clerk of the Board of City Commissioners be authorized and instructed to have published notice of sale of said $140,000.00 of bonds in the Las Vegas Evening Review-Journal, a daily newspaper published in the City of Las Vegas, Nevada, for a period of one a week for four consecutive weeks immediately following its adoption, which notice of sale shall be in substantially the following form, to-wit; NOTICE OF SALE OF $140,000.00 CITY OF LAS VEGAS, CLARK COUNTY, NEVADA, POLICE STATION BONDS Notice Is hereby given that the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, will on the 28th day of December________, 1945 at the hour of ____2:00________ o'clock p.m. at the City office in Las Vegas, Nevada, receive sealed bids, and publicly open same, for the purchase of City of Las Vegas Police Station Bonds in the aggregate principal amount of $140,000.00, to be designated "Las Vegas Police Station Bonds." Said bonds will be in the denomination of $1,000 each, shall bear the date of January 1, 1946, shall bear interest at a rate of not more than 6% per annum payable semi-annually January 1 and July 1, of each year, both principal and interest being payable at the office of the City Treasurer at Las Vegas, Nevada; to mature serially in twenty equal annual installments of $7,000.00 each, commencing January 1, 1947, to and Including January 1, 1966. Bidders are required to submit offers specifying: (a) The lowest rate of interest and premium, if any, above par at which said bidder will purchase such 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 Board to reject any and all bids and readvertise. 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 be 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 Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, and in that event the Board of Commissioners of the City of Las Vegas may accept the bid of the one making the next best bid; or if all bids are rejected the Board of City Commissioners may readvertise said bonds for sale. If there are two or more equal bids and such bids are the best bids received, and are not less than par and accrued interest, the Board of City Commissioners will determine which bid shall be accepted. Dated at Las Vegas, Clark County, Nevada, this 21st day of November 1945.