Las Vegas City Ordinances, March 31, 1933 to October 25, 1950, lvc000014-246

tender for the payment of public and private debts, at the office of the City Treasurer of the said City of Las Vegas, being six months' interest on its Las Vegas Police Station Bond Dated January 1, 1946. Bond No.___________ (Signature or Facsimile Signature) Treasurer. Section 3. That the interest accruing on said bonds and due and payable on the first day of July, 1946, shall be paid from the general funds of the City and for the purpose of reimbursing said funds and in order to provide the necessary funds to pay the interest on and the principal of said Las Vegas Police Station Bonds promptly as it respectively becomes due, there shall be levied upon all the taxable property of the City of Las Vegas a direct annual tax in an amount sufficient to pay each installment of principal of and the interest upon the bonds of this issue and the coupons appurtenant thereto as the same severally mature, all such annual taxes to be levied at the time and in the manner required by law. Said taxes when collected, shall be placed in a special fund to be known and designated as "Police Station Bond Fund" and said taxes shall be applied solely for the purpose of the payment of interest upon and the principal of said Las Vegas Police Station Bonds, and for no other purpose whatsoever until said bonds and the interest thereon shall have been fully paid, satisfied and discharged, but nothing herein contained shall be so construed as to prevent said city from applying any other available funds to that purpose and upon such payment the levies herein provided for may to that extent be diminished. Section 4. The full faith and credit of the City of Las Vegas is hereby pledged for the prompt and punctual payment both principal and interest of the bonds hereby authorized and the provisions of this Ordinance and of each of the bonds and of each of the interest coupons issued pursuant hereto shall constitute and are declared to be a binding and irrevocable contract between the said City of Las Vegas and the holder from time to time of each of said bonds and of the coupons thereto appertaining. Section 5. That from and after the time when said bonds shall have been issued this Ordinance shall not be altered or repealed until the bonis hereby authorized shall have been fully paid, both principal and interest. Section 6. Said bonds shall be sold at public sale for not less than par and accrued interest, if any, and notice calling for bids for the purchase of said bonds shall be given and published as required by law, such publication to be in The Las Vegas Evening-Review Journal, a newspaper of general circulation in the City of Las Vegas, County of Clark, State of Nevada. The proceeds of the sale of said bonds shall be placed in the general funds of the City of Las Vegas and such proceeds shall be paid out only for the purposes of carrying out the provisions of this ordinance; and only on warrants drawn by the City Treasurer in payment of bills contracted in carrying out the objects and purposes aforesaid. Section 7. This Ordinance shall be and become effective immediately after its passage, approval and the publication thereof for two consecutive weeks in the Las Vegas Evening Review Journal, a daily newspaper published in the City of Las Vegas, and its final passage. Section 8. The City Clerk of the City of Las Vegas is hereby authorized and directed to cause this Ordinance to be published in the Las Vegas Evening Review-Journal, a daily news­paper, published in the City of Las Vegas for a period of once a week for two consecutive weeks immediately following its first reading. This Ordinance was read for the first time, proposed, considered and voted upon this 7th day of November, 1945.