Las Vegas City Commission Minutes, May 26, 1952 to February 17, 1954, lvc000008-408

ASSESSMENT DISTRICT NO. 100-19 Protest ASSESSMENT DISTRICT NO. 100-21 Opening of Construction Bids ASSESSMENT DISTRICT NO. 100-21 Public Hearing on Assessment Roll NO. 28-1953 demption date, and bearing interest payable annually at a rate of not exceeding seven per centum (7%) per annum, both principal and interest being payable at the office of the City Treasurer at Las Vegas, Nevada. Said bonds and the interest thereon are payable from a special fund designated "Street Improvement Assess­ment District No. 100-19 Bond Interest and Redemption fund," containing the receipts upon the collection there­of from the special assessments levied against and se­cured by a lien upon property in Street Improvement Assessment District No. 100-19 in said City, said assessments bearing interest commencing May 1, 1953, and payable annually on each principal paying date at the same rate of interest as borne by said bonds, said assessments being payable in ten substantially equal annual installments of principal on or before May 1, 1954, and on or before the same day in each year thereafter until paid in full, or, at the owner’s option, the whole unpaid principal with interest accruing thereon to the next interest paying date being payable at any time; "pro­vided, however, that in the event said fund shall be in­sufficient to pay said bonds and interest thereon as they become due, the deficiency shall be paid out of the City’s general fund." Bidders are required to submit a bid specifying (A) the lowest rate of inter­est and premium, if any, above par at which the bidder will purchase said bonds; or (B) the lowest rate of interest at which the bidder will purchase said bonds at par. All of the bonds shall bear one rate of interest, and said interest shall be payable by one or more sets of coupons. The bonds will be sold to the bidder making the best bid, subject to the right of the corporate authorities of the City of Las Vegas 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 in 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 percent, 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 City of Las Vegas, and, in that event, the corporate authorities of said City may accept the bid of the one making the next best bid, or if all bids are rejected, such authorities may readvertise said bonds for sale. If there be two or more equal bids and such bids are the best bids received, and are not less than par and accrued interest, the corporate authorities will determine which bid shall be accepted. The legality of the bonds will be approved by Messrs. Pershing, Bosworth, Dick and Dawson, Attorneys at Law, Denver, Colorado, whose opinion together with the printed bonds, will be furnished the purchaser without charge. DATED at Las Vegas, Nevada, this 20th day of May, 1953. ADOPTED AND APPROVED this 2Oth day of May, 1953. Motion seconded by Commissioner Jarrett and carried by the following vote: Com­missioners Bunker, Jarrett and His Honor voting aye; noes, none. Absent: Commis­sioners Peccole and Whipple. Mrs. Sally Murphy appeared before the Board at this time in behalf of the people living on North 8th Street, between Stewart and Mesquite. Mrs. Murphy stated that the property owners in this area objected to this improvement and she requested that this objection be made a matter of record. His Honor asked if there were any other persons present who wished to protest this assessment district. There were no other objections voiced. This being the time heretofore set for the opening of bids for the installation of improvements in Assessment District No. 100-21, bids were received from the follow­ing firms: General Builders, Inc. $27,424.58 Ideal Asphalt Paving Co., Inc. 32,735.00 Thereafter Commissioner Jarrett moved the foregoing bids be referred to the City Manager and Comptroller for check and computation. Motion seconded by Commissioner Bunker and carried by the following vote: Com­missioners Bunker, Jarrett and His Honor voting aye; noes, none. Absent: Com­missioners Peccole and Whipple. This being the time set for the Public Hearing on Assessment Roll No. 28-1953, the Mayor announced that this was the time and place designated for the Board of Commissioners of the City of Las Vegas, Nevada to meet and review the assess­ments and hear any objections to said assessments which may be made on the proposed improvements in Assessment District No. 100-21. The Mayor then asked if any written objections concerning said assessment roll had been filed in the office of the City Clerk. The City Clerk answered there had been no objections filed in her office prior to said meeting. The Mayor then publicly asked if anyone desired to make any objections, suggestions, or comments, or raise any question concerning said special assessment roll. There were no objections, suggestions or comments voiced. 5-20-53