Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-149

of said bonds, and the result of the vote upon said question of the issuance of said bonds having been duly certified to this Board by the election boards conducting said election and the result of the vote on said question of the issuance of said bonds having been by this Beard at a meeting duly and regularly held on the 16th day of May ,1923, declared in the manner and form and at the same time as other returns of said general election were canvassed and pro­claimed; and WHEREAS, it appears to this Board that the qualified electors of said City of Las Vegas have authorized the issuance of highway bonds of the City of Las Vegas in the amount of Fifty Thousand ($50,000.00) Dollars, and WHEREAS, it appears to this Board that the issuance of not to exceed Fifty Thousand ($50,000.00) Dollars of said highway bonds have been authorized by said Act of the Legislature of the State of Nevada, and such issuance by the Vote of the qualified electors of the City of Las Vegas at a general city election, held as aforesaid; and WHEREAS, the Board of Commissioners of the City of Las Vegas deems it advisable for the best interests of the City of Las Vegas that it offer for sale at this time, at private sale, Las Vegas Highway Bonds in the sum of Four Thousand ($4,000.00) Dollars of said authorized issue of Fifty Thousand ($50,000.00) Dollars of said bonds; and said Board having received the above offer of the State Board of Finance of the State of Nevada, does, after due consideration, approve said bid as submitted by the State of Nevada, said bid, in the judgment of the Board being the highest and best bid that could be secured at this time, NOW, THEREFORE, BE IT RESOLVED that the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, does hereby accept the bid of the State of Nevada, of Four Thousand Two Hundred Twenty Nine and 60/100 ($4,229.60) Dollars and accrued interest, as is more fully set forth in their bid hereinabove referred to, said bid being in excess of par and accrued intere est, and BE IT FURTHER RESOLVED AND ORDERED by the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, as follows: Section 1: That for the purpose of providing funds to be used in aiding in the construc­tion of a highway through said City of Las Vegas to connect with Route 6 of the State Highway System of the State of Nevada, there shall be executed, issued and delivered to the State of Nevada ,the lawful purchaser of said bonds in the principal aggregate sum of Four Thousand ($4,000.00) Dollars, composed of four bonds numbered consecutively from thirty-one (31) to thirty-four (34),both numbers inclusive, of the denomination of one thousand ($1,000.00) Dollars each, dated January 1st,1925, and absolutely due and payable in numerical order serially as follows: Bonds 31 and 32 to become due and payable on or before the 1st day of July ,1940; Bonds 33 and 34 to become due and payable on or before the 1st day of July ,1941. The payment and redemption of said bonds will be in the order of their issuance, the lowest bonds to be the first paid and redeemed, and so on until the whole amount of said bonds shall have been paid and redeemed. Each of said bonds shall have coupons attached representing each interest installment to date of maturity of the principal. Both principal and interest of said bonds shall be payable in Gold Coin of the United States of America, at present standard at the office of the City Treasurer of the City of Las Vegas, in the City of Vegas, County of Clark, State of Nevada. Interest on said bonds shall cease as the same mature. Section 2; And it is further resolved by the Board that the Four Thousand ($4,000.00) dollar bond issue be , and the Clerk is hereby authorized to have printed, a coupon bon, and said bond shall be in substantially the following form, respectively, to-wit: (FORM OF BOND) "NO._____ UNITED STATES OF AMERICA $1000.00 STATE OF NEVADA COUNTY OF CLARK LAS VEGAS HIGHWAY BONDS