Las Vegas City Commission Minutes, May 26, 1952 to February 17, 1954, lvc000008-406

Motion seconded by Commissioner Jarrett and carried by the following vote: Com­missioners Bunker, Jarrett and His Honor voting aye; noes, none. Absent: Commis­sioners Peccole and Whipple. ASSESSMENT DISTRICT Commissioner Bunker moved the following resolution authorizing notice of sale of NO. 100-18 bonds for Assessment District No. 100-18 be given, said bids to be opened July 1, Resolution on Sale 1953, be adopted: Date of Bonds R E S O L U T I O N 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 L a s 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. 100-18 in the aggregate principal amount of $36,410.80. 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. NOTICE OF SALE OF CITY OF LAS VEGAS, NEVADA ASSESSMENT DISTRICT NO. 100-18 STREET IMPROVEMENT BONDS SERIES OF JUNE 1, 1953, $ 36,410.80 NOTICE IS HEREBY GIVEN that the City of Las Vegas, Clark County, Nevada, will on the 1st day of July, 1953 at 7:30 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. 100-18 Street Improvement Bonds, Series of June 1, 1953, in the aggregate principal amount of $36,410.80, dated June 1, 1953, consisting of 1.0 bonds number­ed consecutively from 1 to 40, both inclusive, be­ing in the denominations of $4,000.00 and $700.00 each, except bond numbered one is in the denomina­tion of $110.80, maturing serially in regular numeri­cal order on the first day of June, $3,110.80 in the year 1954 , and $3,700.00 in each of the years 1955 to 1965, 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 re­demption date, and bearing interest payable annually at a rate of not exceeding seven per centum (7%) per annum, both principal and interest being payable at • the office of the City Treasurer at Las Vegas, Nevada. Said bonds and the interest thereon are payable from a special fund designated "Street Improvement Assess­ment District No. 100-18 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. 100-18 in said City, said assessments bearing interest commencing May 1, 1953, and payable annually on each principal paying date at the same rate of interest as borne by said bonds, said assessments being payable in ten substantially equal annual installments of principal on or before May 1, 1954 , and on or before the same day in each year thereafter until paid in full, or, at the owner’s option, the whole unpaid principal with interest accruing thereon, to the next interest paying date being payable at any time; “pro­vided, however, that in the event said fund shall be in-sufficient to pay said bonds and interest thereon as they become due, the deficiency shall be paid out of the City's general fund." 5-20-53