Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-211

as above set forth, and said officers are hereby authorized, ordered and directed to cause said bonds to be prepared substantially in the form respectively hereinabove set forth and to execute same for and on behalf of said City as in the manner aforesaid; that after their execution, said bonds each of them shall be by the City Treasurer of said City deliver to the First State Bank of Las Vegas, Nevada, the lawful purchaser, upon the payment of the aggregate purchase price, tow-it; Six Thousand Two Hundred Eighty-Four and eighty-eight one hundredths ($6,284.88) Dollars and accrued interest, and when said bonds shall have been delivered to said purchase, the legality of the indebtedness created by said bonds or the levying and collection of taxes for their payment shall not be open to contest by and person or persons, corporation or corporations, or by said city for any reason whatsoever. Section 4. And it is hereby ordered and directed that any interest falling due on said High­way bonds on or before December 1 1926 shall be and the same is hereby ordered apportioned and paid by the City Treasurer of said City from the General fund of said City or ourt of any funds belonging to said City not otherwise apportioned, and for the purpose of providing necessary funds to reimburse said General Fund or other fund or funds for the amount of any money borrowed from it, and also to pay the interest accrued on said bonds subsequent to January 1st, 1926, promptly and after t the same falls due and to constitute and maintain a fund to be designated City of "Las Vegas Highway redemption fund", sufficient to pay the interest on said bonds promptly and as the same falls due and to discharge the principal of said bonds promptly at their maturity, there shall be levied and collected annually a sufficient tax on all property, both real and personal subject to taxation, including proceeds of mines within the boundaries of said City of Las Vegas, Clark County, Nevada, to pay the interest on said bonds as the same accrues according to the tenor and maturity thereof, the principal of said bonds at the time provided therein and hereinabove set forth in this resolution. Such tax shall be levied and collected in the same manner and at the same time as taxes are assessed and collected in said City of Las Vegas, and the proceeds thereof shall be kept by the City Treasurer in a special fund. Section 5; That it be and it is hereby certified, recited and warranted that all cond­itions acts and things necessary and essential to the validity of the bonds of said City in this order mentioned, and required by law to be done, have been duly done and performed and the pro­ceeds to be derived from the issue of said bonds are immediately necessary for the purpose aforesaid. section 6. That the Mayor and Clerk of this Board and the Treasurer of said City, or any or either of them are hereby authorized and directed to furnish the purchaser of said bonds suffi­cient transcripts of other documents and proceedings preliminary to the issue and delivery of said bonds and the legality and sufficiency thereof and validity of said bonds and the acts of said officers in the premises are hereby declared ratified, approved and confirmed. Section 7. That the provisions of this resolution and order and each of the bonds issued and delivered pursuant hereto, shall be and do constitute, and the same are hereby declared to be a binding and irrevocable contract between said City and purchaser and holder or holders of said bonds from time to time. Section 8: That all resolutions and order or parts thereof of this Board in conflict with the provisions hereof, or which might in any manner prevent the issuance or delivery or impair the validity of said bonds be and the same are hereby repealed, rescinded and annulled and this resolution and order shall be irrepealable until the indebtedness hereby created both as to principal and in­terest, shall by said City have been fully paid, certified and discharged. The vote on said Resolution was as follows: Commissioners Mundy, Smith, Elwell and His Honor the Mayor, J. F. Hesse, voting aye, Noes, None. ATTEST: APPROVED: FLORENCE S. DOHERTY J. F. HESSE CLERK MAYOR