Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-463

This bond is one of a series of 580 special assessment, negotiable coupon, improvements bonds, numbered consecutively from one to 580, both inclusive, issued by the City of Las Vegas, all of which are of like date and designation and aggregate the total amount of Five Hundred Seventy Seven Thousand One Hundred Forty-Five and Twenty Three One Hundredths Dollars ($577,145.23). This bond and the interest thereon shall be payable from a special fund designated "Street Improvement Assessment District No. 100-36 Bond Interest and Redemption Fund," containing the receipts upon the collection thereof from the special assessments levied against and secured by a lien upon property in Street Improvement Assessment District No. 100-36, which fund is and shall con­tinue to constitute a sinking fund for and be deemed specially appropriated to the full and prompt payment of said bonds and the interest thereon, and shall be used for no other purpose whatever, provided, however, that in the event said fund shall be insufficient to pay said bonds and the interest as they become due, the deficiency shall be paid out of the City's general fund. Said special assessments made and levied to defray said cost, with accruing interest thereon, constitute a lien upon and against the property upon which such assessments were made and levied from and after the 15th day of February, 1956 the date upon which the amended assessment roll therefor was confirmed and approved by the Board of Commissioners of said City. It is hereby certified, recited and declared that all acts, conditions and things essential to the validity of the bond exist, have happened and have been done in due time, from and manner as required by law, and that the total issue of said improvement bonds of said City for said im­provements and incidental expenses, including this bond, does not exceed the amount authorized by law nor the special assessments levied to cover the cost of said improvements. It is hereby further certified, recited and declared that the proceedings, with reference to making such improvements and levying the assessments to pay therefor, have been regularly had and taken in compliance with law, and that all prerequisites to the fixing of the assessment lien against the property benefited by the improvements and of the personal liability of the owner or owners of such property therefor have been performed. This bond is subject to the condition, and every holder hereof by accepting the same agrees with the obligor and every subsequent holder hereof, that (a) the delivery of this bond to the transferee shall vest title in this bond and in the interest coupons attached hereto in such trans­feree to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to bearer; (b) the obligor and any agent of the obligor may treat the bearer of this bond as the absolute owner hereof for all purposes, and shall not be affected by any notice to the contrary; (c) the principal of and the interest on this bond shall be paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any set­offs or cross-claims; and (d) the surrender to the obligor or any agent of the obligor of this bond and each of the coupons shall be a good discharge to the obligor for the same. IN WITNESS WHEREOF, the City of Las Vegas, Nevada, has caused this bond to be signed by its Mayor, countersigned by its City Treasurer, and its corporate seal to be affixed hereto and attested and countersigned by its City Clerk, and the annexed coupons to bear the facsimile signatures of said officials, and this bond to be dated as of the first day of April, 1956. (Do not sign) Mayor Countersigned: (SEAL) ________(Do not sign)____________ City Treasurer Attested and Countersigned: (Do not sign)__________ City Clerk (Coupon Form) (For Bonds 1 through 580, Inclusive) * 31.70 ** 26.25 ***37.50 No.__________ On the first day of April ****(Unless the bond to which this coupon is attached has been called for prior redemption) the City of Las Vegas, County of Clark, State of Nevada, will pay the bearer hereof the sum of * Thirty One and Seventy One Hundredths Dollars ** Twenty-Six and Twenty-Five One Hundredths Dollars *** Thirty-Seven and Fifty One Hundredths Dollars in lawful money of the United States of America, out of a special fund designated the "Assessment District No. 100-36 Street Improvement Bond Interest and Redemption Fund", or in the event said fund shall be insufficient therefor out of its general fund, at the office of the City Treasurer of said City, being one year's interest on its Assessment District No. 100-36 Street Improvement Bond, Series of April 1, 1956", and bearing No._____________ _____(Facsimile Signature)________________ Mayor _____(Facsimile Signature)________________ City Treasurer _____(Facsimile Signature)________________ City Clerk