Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-573

AN EMERGENCY ORDINANCE RATIFYING, APPROVING AND CONFIRMING ACTION DIRECTED TOWARD THE IM­PROVEMENT OF A PORTION OF EAST CHARLESTON BOULEVARD IN THE CITY OF LAS VEGAS, THE CREATION OF STREET IMPROVEMENT ASSESSMENT DISTRICT NO. 100-35, AND THE ISSUANCE OF IMPROVEMENT BONDS; PROVIDING FOR THE ISSUANCE OF SAID BONDS; PRESCRIBING DETAILS IN CONNECTION THERE­WITH AND OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. WHEREAS, the Board of Commissioners of the City of Las Vegas, in the County of Clark and State of Nevada, on the 16th day of April, 1958 did publicly sell its City of Las Vegas Assessment District No. 100-35 Street Improvement Bonds, Series of May 1, 1958, in the aggregate principal amount of $104,146.31 in accordance with the laws of the State of Nevada, and City of Las Vegas; and WHEREAS, said Board desires to authorize and direct the issuance of said bonds, NOW, THEREFORE, THE BOARD OF COMMISSIONERS OF THE CITY OF LAS VEGAS DOES ORDAIN AS FOLLOWS: SECTION 1. That all action, proceedings, matters and things (not inconsistent with the provisions of this ordinance) heretofore taken, had and done by the City of Las Vegas and the officers of said City concerning the making of certain public improvements in Special Assessment District No. 100-35 and the levying of assessments and the issuance its Special Assessment District No. 100-35, Street Improvement Bonds, Series of May 1, 1958, therefor, including, without limiting the generality of the foregoing, the filing of plats and diagrams with the City Clerk, the declaration by ordinance of the Board of Com­missioners' determination to make such improvements, the matters stated in said ordinance, the giving of notice of said filing and of said improvements as proposed,. the publication, mailing and posting of said notice, the creation of said district by ordinance, the confir­mation, adoption, and approval of the assessment roll No. 36-1958 (Revised), and the public sale of said bonds to the State of Nevada by and through its State Board of Investments be and the same hereby is ratified, approved and confirmed. SECTION 2. That, for the purpose of defraying the entire cost and expense of making said improvements, except to the extent funds are available therefor from that part of said assessments which have been heretofore paid, there be issued in the name of the City of Las Vegas, Nevada, special assessment negotiable coupon bonds designated "Assess­ment District No. 100-35 Street Improvement Bonds, Series of May 1, 1958", in the aggre­gate principal amount of $104,146.31 consisting of 110 bonds numbered consecutively from 1 to 110, both inclusive, which bonds shall bear date as of the 1st day of May, 1958, shall be in the denominations of $1000.00 and $400.00 each, except bond numbered one which shall be in the denomination of $546.31, bearing interest at the rate of Three and three-quarters per centum (3 3/4%) per annum until paid in full, payable annually on the 1st day of May in each year, as evidence by interest coupons attached to said bonds. Said bonds shall be numbered, shall be in the denomination of, and shall mature serially in regular numerical order on the first day of May in each of the years indicated as follows: Bond Numbers Bond Amount Maturity (All inclusive) Denomination Maturing Date_______ 1 546.31 2-11 1000.00 10,546.31 5-1-59 12 400.00 13-22 1000.00 10,400.00 5-1-60 23 400.00 24-33 1000.00 10,400.00 5-1-61 34 400.00 35-44 1000.00 10,400.00 5-1-62 45 400.00 46-55 1000.00 10,400.00 5-1-63 56 400.00 57-66 1000.00 10,400.00 5-1-64 67 400.00 68-77 1000.00 10,400.00 5-1-65 78 400.00 79-88 1000.00 10,400.00 5-1-66 89 400.00 90-99 1000.00 10,400.00 5-1-67 100 400.00 101-110 1000.00 10,400.00 5-1-68 said bonds and the interest thereon shall be payable in lawful money of the United States of American at the office of the City Treasurer of the City of Las Vegas, at Las Vegas, Nevada. Said bonds shall be fully negotiable and shall have all the qualities of negotiable paper, subject to the payment provisions stated herein, and the holder or holders thereof shall possess all rights enjoyed by holders of negotiable instruments under the provisions of the Negotiable Instruments Law. Said bonds shall be signed by the Mayor of the City of Las Vegas, countersigned by the City Treasurer, and its corporate seal shall be affixed to each bond and attested and countersigned by its City Clerk. The coupons attached to said bonds shall bear the facsimile signature of the Mayor, City Treasurer and City Clerk, which officers, by the execution of said bonds, shall adopt as and for their signatures the facsimiles thereof appearing on said coupons, and when said bonds are executed, said coupons shall constitute the binding obligations of said City for said interest. Said bonds and coupons bearing the signatures of the officers in charge at the time of the signing thereof shall be the valid and binding obligation of the City of Las Vegas, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon shall have ceased to fill their respective offices. EMERGENCY ORDINANCE NO. 764