Las Vegas City Commission Minutes, August 11, 1942 to December 30, 1946, lvc000005-45

AND WHEREAS, said notice was duly published in the Las Vegas Evening Review Journal, a daily newspaper, published in the City of Las Vegas, Clark County, Nevada, in the issue of said newspaper of August 22, 1942, the affidavit of publication thereof, being on file in the office of the City Clerk, of this City. AND WHEREAS, at the time specified in said notice, which time was 17 days after the publication of said notice, to-wit: At the recessed regular meeting of the Board of City Commissioners, held on the 8th day of September, 1942, at the hour of 7:30 8'clock, p.m., at which meeting a quorum was present, the following resolution was unanimously adopted: WHEREAS, there exists a great necessity and emergency for the securing of cash to meet the payroll of the City employees and other current expenses of operating the city government under the 1942 budget, pending the collection of the tax levy, 1942, the quarterly installment of which will begin December, 1942. AND, WHEREAS, the only way this payroll can be met is through an emergency loan: THEREFORE, BE IT RESOLVED, by the Board of City Commissioners that said city do borrow the sum of Seventy five thousand ($75,000.00) Dollars, (or whatever part thereof the Board of City Commissioners of the city of Las Vegas finds necessary or expedient to borrow) at an interest rate of not to exceed eight per cent (8%) per annum; and do provide in the subsequent annual budgets for the repayment thereof both principal and interest within the period of two and one-half years from the date of borrowing said sum; and BE IT FURTHER RESOLVED that the Mayor and City Clerk be and they are hereby authorized and empowered to make, execute and deliver such promissory note or notes as may be necessary from time to time to carry into effect this RESOLUTION; and BE IT FURTHER RESOLVED, that the City Clerk execute and deliver the necessary certified copy of this Resolution to be sent to the State Board of Finance. AND, WHEREAS a certified copy of the foregoing Resolution was for­warded by the said City Clerk to the State Board of Finance, at Carson City, Nevada, for its approval, AND WHEREAS, at a regular meeting of the State Board of Finance, held at Carson City, Nevada on the 15th day of September, 1942, a certain Resolution "authorizing Board of City Commissioners, City of Las Vegas, County of Clark, to make temporary emergency loan" was unanimously adopted and a certified copy of said Resolution was transmitted by the Secretary of the State Board of Finance to said Board of City Commissioners, City of Las Vegas, County of Clark, in order that the same may be recorded in the Minutes of the Meeting of said Board of City Commissioners, City of Las Vegas, County of Clark, as provided by law AND WHEREAS, said certified copy of said Resolution of the Said State Board of Finance is as follows, to-wit: STATE BOARD OF FINANCE Meeting held September 15, 1942 RESOLUTION AUTHORIZING Board of City Commissioners, City of Las Vegas, County of Clark TO MAKE TEMPORARY EMERGENCY LOAN WHEREAS, it being made to ap ear to the satisfaction of the State Board of Finance, duly called and met in session under and pursuant to the provisions of that certain Act of the Legislature of Nevada entitled "An Act Regulating the Fiscal Management of Counties, Cities, Towns, School Districts and other Governmental agencies,” approved March 22, 1917, as amended, that a great necessity or emergency has arisen in the City of Las Vegas, County of Clark, State of Nevada, and that necessity now exists for authorizing the obtaining of a temporary loan by and on the part of the Board of City Commissioners, City of Las Vegas, County of Clark, for the purpose of meeting such emergency as expressed in and shown by the preamble and resolution unanimously adopted at a meeting of said Board of City Commissioners, City of Las Vegas, County of Clark, duly called and held on the 8th day of September, 1942, authorizing a temporary loan for the purpose set forth in said resolution, a duly certified copy of which is now on file and of record in the office of the State Board of Finance; and WHEREAS, it further appearing that notice of intention to adopt said emergency resolution was duly published according to law; therefore, be it RESOLVED by the State Board of Finance, that said act and resolution of said Board of City Commissioners, City of Las Vegas, County of Clark, State of Nevada, authorizing a temporary loan of Seventy Five Thousand ($75,000.00) Dollars as in said Resolution set forth and authorized, be and the same is hereby approved; and be it further RESOLVED, that a duly certified copy of this resolution be transmitted by the Secretary of the State Board of Finance to said Board of City Commissioners, City of Las Vegas, County of Clark, in order that the same may be recorded in the Minutes of the Meeting of said Board of City