Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-364

Section That the City proposes to incur a bonded indebtedness (subject to the approval of the regu­larly qualified electors of the City), to defray, in part, the cost of so improving the police detention facilities by the issuance of its negotiable coupon General Obligation Police Detention Bonds in the ag­gregate principal amount of $275,000.00, or so much thereof as may be necessary, said bonds to be payable from an annual tax levy on all the taxable property in the City, sufficient in amount (subject to the limita­tions imposed by the Constitution and Laws of the State of Nevada) to pay the principal of and the interest on said bonds as the same become due, and from such other sources, available therefor as the Board of Com­missioners may at its option determine, said bonds to mature serially in regular numerical order at annual intervals, commencing not later than the year 1958 and ending not later than the year 1980, both inclusive, provided that bonds maturing in the years 1966 to 1980, both inclusive, shall be redeemable, at the option of the City, on such terms as the Board of Commissioners may determine on any interest payment date on or after ten (10) years from the date of said bonds, and shall as nearly as practicable be issued for a per- iod which shall be equivalent to the life of such improvements which is hereby determined to be at least twenty-five (25) years from the date of said bonds. Said bonds (if their issuance is approved by the regular­ly qualified electors) shall be sold publicly in accordance with the statutes of the State of Nevada in such case made and provided, and shall contain such provisions relative to call and otherwise as will adequately protect the City. Section 5. That the City of Las Vegas improve the municipal Fire Extinguishing System, at an estima­ted initial cost of $400,000.00, by acquiring additional fire extinguishing equipment, and buildings there­for, together with such additional sites add grounds as may be necessary, and by improving existing fire department buildings and fire extinguishing equipment, for serving and supplying with better fire protec­tion its inhabitants. Section 6. That the City proposes to incur a bonded indebtedness (subject to the approval of the regularly qualified electors of the City) to defray, in part, the cost of so improving the municipal Fire Extinguishing System by the issuance of its negotiable coupon General Obligation Fire Extinguishing System Bonds in the aggregate principal amount of $400,000.00, or so much thereof as may be necessary, said bonds to be payable from an annual tax levy on all the taxable property in the City, sufficient in amount (sub­ject to the limitations imposed by the Constitution and Laws of the State of Nevada) to pay the principal of and the interest on said bonds as the same became due, and from such other sources, available therefor as the Board of Commissioners may at its option determine, said bonds to mature serially in regular numeri­cal order at annual intervals, commencing not later than the year 1958 and ending not later than the year 1980, both inclusive, provided that bonds maturing in the years 1966 to 1980, both inclusive, shall be re­deemable, at the option of the City, on such terms as the Board of Commissioners may determine, on any in­terest payment date on or after ten (10) years from the date of said bonds, and shall as nearly as practi­cable be issued for a period which shall be equivalent to the life of such improvements which is hereby determined to be at least twenty-five (25) years from the date of said bonds. Said bonds (if their issu­ance is approved by the regularly qualified electors)(shall be sold publicly in accordance with the statutes of the State of Nevada in such case made and provided, and shall contain such provisions relative to call and otherwise as will adequately protect the City. Section 7. That the City of Las Vegas improve the municipal Fire Extinguishing System, at an esti­mated initial cost of $200,000.00, by acquiring, constructing and establishing an automatic fire alarm system complete with headquarters building and controls and panels, for serving and supplying its inhabi­tants with additional fire protection. Section 8. That the City proposes to incur a bonded indebtedness (subject to the approval of the regularly qualified electors of the City) to defray, in part, the cost of so improving the existing Fire Extinguishing System by the issuance of its negotiable coupon General Obligation Fire Alarm System Bonds in the aggregate principal amount of $200,000.00, or so much thereof as may be necessary, said bonds to be payable from an annual tax levy on all the taxable property in the City, sufficient in amount (subject to the limitations imposed by the Constitution and Laws of the State of Nevada) to pay the principal of and the interest on said bonds as the same become due, and from such other sources, available therefor as the Board of Commissioners may at its option determine, said bonds to mature serially in regular numerical order at annual intervals, commencing not later than the year 1958 and ending not later than the year 1980, both inclusive, provided that bonds maturing in the years 1966 to 1980, both inclusive, shall be redeemable, at the option of the City, on such terms as the Board of Commissioners may determine, on any interest payment date on or after ten (10) years from the date of said bonds, and shall as nearly as practicable be issued for a period which shall be equivalent to the life of such improvements which is hereby determined to be at least twenty-five (25) years from the date of said bonds. Said bonds (if their issuance is approved by the regularly qualified electors) shall be sold publicly in accordance with the statutes of the State of Nevada in such case made and provided, and shall contain such provisions relative to call and otherwise as will adequately protect the City. Section 9. That at the next general city election, which will be held on Tuesday, the 3rd day of May, 1955 the following proposals shall be submitted to the regularly qualified electors of said City, and said proposals shall read as follows: (a) "Shall the City of Las Vegas issue its negotiable coupon General Obligation Sewer Bonds in the ag­gregate principal amount of $2,000,000.00, or so much thereof as may be necessary, for the purpose of de­fraying, in part, the cost of improving the existing sanitary sewer system, by acquiring sites and rights- of-ways therefor and acquiring, constructing and establishing additional sanitary sewer lines, an additional sanitary sewerage disposal plant, a sanitary sewer effluent disposal system, and other appurtenances to said system, said bonds to bear interest at a rate of not more than seven (7) percent per annum, and to mature serially in regular numerical order at annual intervals, commencing not later than the year 1958, and ending not later than the year 1980, both inclusive, said bonds maturing after the year 1966, to be subject to prior redemption, at the option of the City on such terms as the Board of Commissioners may de­termine on any interest payment date on and after ten (10) years from the date of the bonds, principal, and interest to be payable from an annual general tax levy, and from such other sources available therefor as the Board of Commissioners may at its option determine." (b) "Shall the City of Las Vegas issue its negotiable coupon General Obligation Police Detention Bonds in the aggregate principal amount of $275,000.00, or so much thereof as may be necessary, for the pur­pose of defraying, in part, the cost of improving the police detention facilities, by establishing, con- structing, and otherwise acquiring Las Vegas Police Prison buildings and a suitable site and grounds there for and extending and bettering the present Las Vegas Police Station Building in order to increase the jail facilities thereof, said bonds to bear interest at a rate of not more than seven (7) percent per annum and mature serially in regular numerical order at annual intervals, commencing not later than the year 1958, and ending not later than the year 1980, both inclusive, said bonds maturing after the year 1966, to be sub­ject to prior redemption, at the option of the City on such terms as the Board of Commissioners may de­termine on any interest payment date on and after ten (10) years from the date of the bonds, principal and interest to be payable from an annual general tax levy, and from such other sources available therefor as the Board of Commissioners may at its option determine." (c) "Shall the City of Las Vegas issue its negotiable coupon General Obligation Fire Extinguishing