Las Vegas City Ordinances, March 31, 1933 to October 25, 1950, lvc000014-219

Thousand Dollars ($1000.00) each, which said bonds shall be numbered consecutively from One (1) to one hundred and sixty (160) inclusive and shall mature and become payable at annual periods as follows: Numbers 1 to 32 inclusive of said bonds shall mature and become payable on January 1, 1947. Numbers 33 bo 64 inclusive shall mature and become payable on January 1, 1948. Numbers 65 to 96 inclusive shall mature and become payable on January 1, 1949. Numbers 97 to 128 inclusive shall mature and become payable on January 1, 1950. Numbers 129 to 160 inclusive shall mature and become payable on January 1, 1941. Each of said bonds shall bear interest at the rate of 4% per annum and said interest to be payable semi-annually on the first day of January of each year, commencing January 1, 1947. Said bonds shall be designated as "Las Vegas Swimming Pool Bonds, Series 1947 - 1941." Section 3. Said bonds or such proportion thereof as may be necessary to accomplish the purpose herein expressed, shall be sold to the bidder making the highest and best bids. Section 4. The Board of Commissioners of the City of Las Vegas shall cause the said bonds to be prepared in appropriate form with appropriate recitals necessary to secure the holders thereof, and to make the bonds a legal and effective general obligation against the City of Las Vegas. The bonds shall be signed by the Mayor of the City of Las Vegas or the Mayor Pro Tem of the City of Las Vegas, and the City Clerk or the Deputy City Clerk of the City of Las Vegas, and countersigned by the City Treasurer of the City of Las Vegas, and shall be authenticated by the seal of the seal of City of Las Vegas. The said bonds shall contain coupons attached to the several bonds representing the several installments of interest to fall due thereon, so that they may be renewed without injury to the bond or coupon. The coupons shall be numbered consecutively and shall bear the signature of facsimile signature of the mayor or the Mayor Pro Tem and the counter signature or facsimile counter signature of the City Clerk and the signature or facsimile counter signature of the City Treasurer. Said bonds shall bear the date of January 1, 1946. The said bonds, or as may thereof, as may be necessary in the judgement of the Board of City Commissioners to accomplish the purpose herein expressed, shall be sold as herein provided and the proceeds thereof shall be placed in a City Fund designated as the "Swim­ming Pool Bond Fund." The said "Swimming Pool Bond Fund" so derived from the sale of such bonds shall be used for the purpose of constructing a municipally-owned swimming pool or pools and inci­dental facilities thereto, and for no other purpose. Section 5. The said bonds so issued shall be a lien upon any swimming pool so constructed by the City. Section 6. When said swimming pool shall be constructed as herein provided, the Board of Commissioners shall charge such prices for the use of said swimming pool or pools and their facilities as in their discretion they deem satisfactory and proper, and the net proceeds from said charges shall be used to defray all or such portion of the swimming pool bond issue as is possible. Section 7. The issuance of the bonds herein provided for shall be conclusive evi­dence of the regularity of all proceedings up to the issuance of said bonds, and in the even that the fund created from the admission charges to said swimming pool or pools and from other income from said swimming pool or pools shall be insufficient to pay the prin­cipal upon the redeem said bonds and to pay the interest thereon as respective amounts become due, then in such amount the deficiency shall be paid by the Treasurer of the City of Las Vegas from the Swimming Pool Bond and Redemption Fund of the City of Las Vegas, and each of the bonds issued under the authority of this ordinance shall contain a provision to that effect. Said bonds shall be exempt from the City tax. t Section 8. If any section, subsection, sentence, clause or phrase of this ordinance is, for any reason, held to be unconstitutional or invalid such decision shall not effect the remaining portion of this ordinance. The Board of City Commissioners here by declare it would have passed this ordinance and each section and subsection, thereof, irrespective of the fact that any one or more of the sections, subsections, sentences, clauses or phrases be declared unconstitutional or in­valid. Section 9. This ordinance shall be and become effective immediately after its adop­tion, approval and the publication thereof for two consecutive weeks in the Las Vegas Morn­ing Tribune, a daily newspaper, published in the City of Las Vegas, and, its final passage. Section 10. The City Clerk of the City of Las Vegas is hereby authorized and directed to cause this ordinance to be published in the Las Vegas Morning Tribune, a daily newspaper, published in the City of Las Vegas, for a period of once a week for two consecutive weeks immediately following its first reading. This ordinance was read for the first time, proposed, considered and voted upon this first day of March, 1945. Voting Aye: Commissioners Bates, Corradetti, Smith, and His Honor Mayor Cragin._____ Voting Nays: None______________________________________________________________________ Absent : Commissioner Clark____________________________________________ _____ /s/ E. W. Cragin_________ ATTEST: Mayor /s/ Helen Scott Reed City Clerk This ordinance was read aloud to the Board for the first time at a regular meeting of the Board on