Las Vegas City Ordinances, March 31, 1933 to October 25, 1950, lvc000014-438

The Board of Commissioners of the City of Las Vegas is hereby authorized, empowered and directed to issue in the name of the City of Las Vegas, twelve (12) bonds of the denomination of One Thousand Dollars ($1,000.00) and one (1) bond of the denomination of Five Hundred Twenty-eight Dollars and Fifty-Six Cents ($528.56), each bearing interest at the rate of not to exceed seven percent (7%) per annum, both principal and interest being payable at the office of the City Treasurer in any coin or currency of the United States of America which on the respective dates of payment is legal tender, all dated as of January 1, 1950, numbered consecutively from one upwards and to the extent such bonds are issued, maturing serially as follows: Bond Numbers Maturity Date Total 1 January 1, 1951 $ 528.56 2 January 1, 1952 $1,000.00 3 January 1, 1953 $1,000.00 4 January 1, 1954 $1,000.00 5 January 1, 1955 $1,000.00 6 January 1, 1956 $1,000.00 7 January 1, 1957 $1,000.00 8 & 9 January 1, 1958 $2,000.00 10 & 11 January, 1, 1959 $2,000.00 12 & 13 January 1, 1960 $2,000.00 Said bonds shall be signed by the Mayor of the City of Las Vegas, and by the City Clerk of the City of Las Vegas, and shall be countersigned by the City Treasurer of the City of Las Vegas under the seal of the City. Each of said bonds shall have attached thereto appropriate coupons to evidence the installments of in­terest due thereon and shall bear the signature or facsimile signature of the City Treasurer. The said bonds shall be known and called City of Las Vegas Biltmore Street Lighting Improvement Bonds and shall be substanti­ally in the following form: "UNITED STATES OF AMERICA STATE OF NEVADA BILTMORE STREET LIGHTING IMPROVEMENT BONDS SERIES OF JANUARY 1, 1950 No._____ $1,000.00 "The City of Las Vegas, in the County of Clark, State of Nevada, for value received, hereby acknow­ledges itself indebted and promises to pay to bearer the sum of ONE THOUSAND DOLLARS ($1,000.00) on the first day of January, A.D. 19__, with interest thereon at the rate of ______per centum ( %) per annum, payable semiannually on the first days of January and July in each year upon presentation and surrender of this bond and the attached coupons as they severally become due, both principal and interest being payable at the office of the City Treasurer of the City of Las Vegas in Las Vegas, Nevada, in any coin or currency of the United States of America which, on the respective dates of payment is legal tender for the payment of public and private debts. "This bond is one of a series of bonds of like tenor issued by the City of Las Vegas for the purpose of installing street lighting for the use of the City of Las Vegas and its inhabitants and for defraying the cost thereof under the authority of the Charter of said City and of an ordinance duly enacted pursuant thereto by the Board of Commissioners of the City of Las Vegas, Nevada. It is hereby certified that all acts and things required to be done and all conditions and things required to exist precedent to and in the issuance of this bond to render the same lawful and valid have happened, been done and performed and did exist in regular and in due form and in every manner as required by law and that the total indebtedness of the City of Las Vegas including the indebtedness evidenced by this bond does not exceed the statutory or constitutional limitations under the constitution and laws of the State of Nevada and of the Charter of the City of Las Vegas, and it is further certified and recited that provision has been made for the levy and collection of an annual assessment sufficient to pay the interest on this bond and to discharge the principal thereof when and as the same several­ly becomes due. "The full faith and credit of the City of Las Vegas are hereby pledged for the punctual payment of the principal of and the interest upon this bond. "IN WITNESS WHEREOF, the City of Las Vegas has caused this bond to be signed by its Mayor and by its City Clerk and countersigned by the City Treasurer under the seal of the City of Las Vegas, all this first day of January, A.D. 1950. Mayor Countersigned: City Treasurer ATTEST: City Clerk "(Form of Coupon) No._______________ $_________ January "On the first day of July , A.D. 19___, the City of Las Vegas in the County of Clark, State of Nevada, will pay the bearer _________________________Dollars