Las Vegas City Commission Minutes, May 14, 1929 to February 11, 1937, lvc000003-222

The Mayor announced that this was the time for the opening and consideration of bids upon Las Vegas Sewerage Bonds, 1931 issue. The Clerk thereupon opened the sealed bid of Nevada Industrial Commission, being the only bid on said bonds. Said bid was as follows: If Bonds are issued at Six (6%) Per Cent, we bid par and accrued interest to date of delivery of bonds, for the purchase of either One Hundred Twenty-eight (128) or One Hundred Sixty (160) Bonds, of the denomination of One Thousand ($1,000) Dollars each, know and designated as "City of Las Vegas, Sewer Bonds"; to mature Eight Thousand ($8,000) Dollars on the first of July in each year after issuance. Should the Bonds bear interest at the rate of Seven (2%) Per Cent, we will purchase them on a basis of Six and One-Sixteenth, or an interest rate of $.06625. Thereupon after consideration on said bid, upon motion of Commissioner Hansell seconded by Commissioner Thomas the following Preambles and Resolution were duly adopted: WHEREAS, this Board has heretofore, by order made and entered on the minutes of this Board at a meeting thereof held on the 20th day of November, 1931, directed notice to be given calling for bids on Las Vegas Sewerage Bonds, 1931 issue on this 21st day of December, 1931 at the hour of three o'clock P.M. and directing that such bids shall be for the purchase of One Hundred Twenty-eight (128) or One Hundred Sixty (160) bonds of said issue, and therein it was provided that if the bonds be issued on the bases of a bid for one hundred twenty-eight (128) of said bonds the bonds should commence with bond No. 17 and run consecutively thereafter up to bond No. 144 the first maturity of eight bonds thereunder to be July 1, 1935, with eight bonds to mature on the first day of July each consecutive year thereafter, and WHEREAS, it was the sense of this Board at the time of making said last mentioned order that it was possible that there would not be any necessity for the issue of more than one hundred twenty eight of said bonds, but that in the event it became necessary to issue more than one hundred twenty-eight of said bonds this Board was of the opinion that, notwithstanding the present financial depression and weak bond market that the banks of Las Vegas would readily absorb the first sixteen of said bonds, numbered from 1 to 16 inclusive, in view of their early maturity, and that in the event it became necessary to issue bonds Nos. 145 to 160, inclusive, even if said depression and weakness of the bond market should continue, the said remainder or such part thereof as were required to be sold could be readily sold to the State of Nevada or any bond house usually dealing with bonds of the City of Las Vegas, and WHEREAS, this Board is still of the same opinion as hereinabove set forth, NOW, THEREFORE, BE IT RESOLVED, that in the opinion of this Board the bid of said Nevada Industrial Commission for One Hundred Twenty-eight (128) of said bonds of the denomi­nation of One Thousand Dollars ($1000) each, to bear interest at the rate of six per centum per annum, interest payable semi-annually, at par and accrued interest to date of delivery, is a fair and just bid and that it is to the interest of the City of Las Vegas to accept the same, the Board of Commissioners of the City of Las Vegas, acting by and on behalf of said City of Las Vegas does hereby accept said bid of said Nevada Industrial Commission, withe and on the understanding that said one hundred twenty-eight bonds will commence with bond No. 17 and run consecutively thereafter up to bond No. 144, inclusive, the first maturity of eight bonds thereunder to be July 1, 1935, with eight bonds to mature on the first day of July of each consecutive years thereafter as set forth in the Notice calling for bids on said bonds. BE IT FURTHER RESOLVED, that said Nevada Industrial Commission be notified by the Clerk of this Board of the acceptance of such bid; that a transcript of the bond proceedings hereunder be furnished said Commission at an early date, and that the Clerk secure an estimate from Rocky Mountain Bank Note Company, of Salt Lake City, Utah of the cost of the printing of said bonds. The vote on said Resolution was as follows: Commissioners Mundy, Thomas and Hansell and His Honor the Mayor E.W.Cragin voting Aye. Noes none. No further business appearing before the Board at this time the meeting recessed until Tuesday the 22nd day of December, 1931 at the hour of seven thirty P.M. OFFICE OF THE CITY CLERK, CITY OF LAS VEGAS, CLARK COUNTY, NEVADA. DECEMBER 22nd, 1931. Minutes of a recessed regular meet ng of the Board of Commissioners of the City of Las Vegas held on the 22nd day of December, 1931 at the hour of seven thirty o'clock P.M. Roll call of officers showed the following present: Mayor E.W.Cragin, Commissioners Mundy and German, City Attorney Stevens and City Clerk Viola Burns. Absent Commissioners Thomas and Hansell. Commissioner Mundy was appointed by the Mayor to approve the salary claim of David Mackey as Finance commissioner owing to the absence of that Commissioner. An Ordinance entitled, "Ordinance providing for the parole of persons under sentence of imprisonment in the City Jail," was read for a first time and laid over for a second reading.