Las Vegas City Commission Minutes, May 26, 1952 to February 17, 1954, lvc000008-407

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 20th day of May, 1953. Motion seconded by Commissioner Jarrett and carried by the following voter Commissioners Bun­ker, Jarrett and His Honor voting aye; noes, none. Absent: Commissioners Peccole and Whipple. ASSESSMENT DISTRICT NO. 100-19 Resolution on Sale Date of Bonds WHEREAS, the Board of Commissioners of the City of Las Vegas have taken steps to create certain public improvements; and WHEREAS, the time has now arrived to authorize and direct the City Clerk to advertise for bonds all in accordance with the proceedings heretofore taken to construct said improvements by special assessment; NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the City of Las Vegas at a regular meeting thereof held on the 20th day of May, 1953, that the City Clerk and Clerk of the Board of Commissioners be and she is hereby directed to publish notice that the Board of Commis­sioners will receive bids for bonds for Special Assessment District No. 100-19 in the aggregate principal amount of $44,763.41. BE IT FURTHER RESOLVED, that the City Clerk and Clerk of the Board of Commissioners be and she hereby is directed to publish notice of the receipt of bids for said bonds by publication on May 27, June 3, June 10, June 17 and June 24, 1953 in the Las Vegas Review Journal, a daily newspaper published in the City of Las Vegas; and BE IT FURTHER RESOLVED, that the City Clerk and Clerk of the Board of Commissioners be di­rected to publish in said notice that the bids for said bonds will be received until 7:55 P.M. on Wednesday, the 1st day of July, 1953, and said bids will be opened at 8:00 P.M. or there­abouts on said day. BE IT FURTHER RESOLVED, that said notice shall be in substantially the form attached to this Resolution and made a part hereof. Commissioner Bunker moved the following resolution authorizing notice of sale of bonds for Ass­essment District No. 100-19 be given, said bids to be opened July 1, 1953, be adopted: R E S O L U T I O N NOTICE OF SALE OF CITY OF LAS VEGAS, NEVADA ASSESSMENT DISTRICT NO. 100-19, STREET IMPROVEMENT BONDS SERIES OF JUNE 1, 1953. $44,763.41 NOTICE IS HEREBY GIVEN that the City of Las Vegas, Clark County, Nevada, will on the 1st day of July, 1953, at 7:3 0 o’clock P.M., at the City Hall in Las Vegas, Nevada, offer for sale, receive sealed bids and publicly open same for, the following described special assessment negotiable coupon bonds of said City: City of Las Vegas Assessment District No. 100-19, Street Improvement Bonds, Series of June 1, 1953, in the aggregate principal amount of $44,763.41 dated June 1, 1953, consisting of 40 bonds number­ed consecutively from 1 to 50, both inclusive, be­ing in the denominations of $ 2 6 3 . 4 1 and $1000.00 each, except bond numbered one is in the denomina­tion of $ 500.00 , maturing serially in regular numeri­cal order on the first day of June, $ 4,961.63 in the year 1951, and $ 4500.00 in each of the years 1955 to 1963, both inclusive, all bonds being subject to prior redemption on any interest payment date in inverse numerical order at the option of the City whenever funds are available therefor, after fifteen days published notice, upon the payment of the princi­pal amount thereof with accrued interest to the re- 5-20-53