Las Vegas City Ordinances, March 31, 1933 to October 25, 1950, lvc000014-282

Signed: Dick Lochrie____________________ Subscribed and sworn to before me this 1st day of April 1947. s/ _____A. E. Cahlan_____________________ Notory Public in and for Clark County, Nevada STATE OF NEVADA ) ) COUNTY OF CLARK ) CITY OF LAS VEGAS } A recessed regular meeting of the Board of Commissioners of the City of Las Vegas, Nevada was held in the City Hall in said City at 10:00 o'clock A.M. on Monday, the 24th day of March, 1947 Present: Mayor E. W. Cragin________________ Commissioners: R. T. Baskin________ Walter B. Bates C. R. Clark__________ A. Corradetti________ City Clerk: Helen Scott Reed Also Present: C. Norman Cornwall____ T. E. Fennessy__________ City Manager The meeting was called to order by the Mayor. Thereupon, the following proceedings, among others, were had and taken, to-wit: Commissioner Bates introduced and moved the adoption of the following ordinance: EMERGENCY ORDINANCE NO. 329 AN ORDINANCE AUTHORIZING THE BOARD OF COMMISSIONERS OF THE CITY OF LAS VEGAS TO BORROW $100,000.00 ON THE CREDIT OF THE CITY AND PROVIDING FOR THE ISSUANCE AND SALE BY THE CITY OF ITS NEGOTIABLE COUPON BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF $100,00.00 TO BE DENOMINATED SLIMMING POOL BONDS, SERIES A, FOR THE PURPOSE OF ACQUIRING AND ESTABLISHING TWO MUNICIPAL SWIMMING POOLS AMD INCIDENTAL FACILITIES; PRESCRIBING THE FORM OF SAID BONDS AND PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX TO PAY THE PRINCIPAL AND INTEREST ON SAID BONDS; DECLARING AN EMERGENCY BE REASON OF THE FACT THAT THE SWIMMING POOLS NOW BEING CONSTRUCTED BY THE CITY CANNOT BE COMPLETED WITHOUT THE EXPENDITURE OF ADDITIONAL FUNDS; PROVIDING FOR THE PUBLIC SALE OF SAID BONDS AND PRESCRIBING THE FORM OF SALE NOTICE; AUTHORIZ­ING THE EXECUTION OF SAID BONDS AND PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH. WHEREAS, by Ordinance No. 311 finally adopted and approved on December 7, 1945, the Board of Commissioners of the City of Las Vegas were authorized to issue the swimming pool bonds of said City in the aggregate principal amount of $160,000.00 for the purpose of acquiring and establishing two municipal swimming pools and incidental facilities thereto; and WHEREAS, in accordance with the authority so conferred, the Board of Commissioners has heretofore issued and sold said bonds in the amount of $160,000.00 and is in the process of constructing two swimming pools in the City of Las Vegas; and WHEREAS, the Board of Commissioners has determined and does hereby determine on the basis of the City's experience in the construction of said swimming pools and on the recommendation of the engineer acting on behalf of the City that by reason of unanticipated increases in construction costs, said swimming pools and incidental facilities cannot be com­pleted by the expenditure of $160,000.00 derived from the sale of said bonds; and WHEREAS, in order to complete the construction of said swimming pools and incidental facilities and in order to protect the City's financial investment in the pools now under construction, it is necessary and for the best interests of the City and its inhabitants that the City borrow an additional $100,000.00 and issue its bonds in like amount; and