Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-52

This bond is subject to redemption at the option of the City of Las Vegas on any interest payment date at a price equal to the principal amount thereof with accrued interest to the redemption date. Redemp­tion shall be made upon not less than fifteen days' prior notice by publication in a newspaper of general circulation in the City of Las Vegas in the manner and upon the conditions provided in the ordinance author­izing the issuance of this bond. This bond is one of a series of twenty-one special assessment, negotiable coupon, improvement bonds numbered consecutively from one to twenty-one, both inclusive, issued by the City of Las Vegas, all of which are of like date and designation and aggregate the total amount of Fourteen Thousand Two Hundred Seventy- One and Seventy-Three One Hundredths Dollars ($14,271.73) This bond and the interest thereon shall be payable from a special fund designated "Street Assess- ment District No. 100-4 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 Assessment District No. 100-4 which fund is and shall continue to constitute a sinking fund for and be deemed specially appropriated to the full and prompt payment of said bonds and the interest thereon, and shall be used for no other purpose whatever, provided, however, that in the event said fund shall be insufficient to pay said bonds and the interest thereon as they become due, the deficiency shall be paid out of the City’s general fund. Said special assessments made and levied to defray said cost, with accruing interest thereon, constitute a lien upon and against the property upon which such assessments were made and levied from and after the 17th day of January, 1951, the date upon which the assessment roll therefor was confirmed and ap­proved by the Board of Commissioners of said City. It is hereby certified, recited and declared that all acts, conditions and things essential to the validity of the bond exist, have happened and have been done in due time, form and manner as required by law, and that the total issue of said improvement bonds of said City for said improvements and incidental expenses, including this bond, does not exceed the amount authorized by law nor the special assessments lev­ied to cover the cost of said improvements. It is hereby further certified, recited and declared that the proceedings with reference to mak­ing such improvements and levying the assessments to pay therefore have been regularly had end taken in com­pliance with law, and that all prerequisites to the fixing of the assessment lien against the property bene­fited by the improvements and of the personal liability of the owner or owners of such property therefor have been performed. This bond is subject to the condition, and every holder hereof by accepting the same agrees with the obligor and every subsequent holder hereto, that (a) the delivery of this bond to any transferee shall vest title in this bond and in the interest coupons attached hereto in such transferee to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to bearer; (b) the obligor and any agent of the obligor may treat the bearer of this bond as the absolute owner hereof for all purposes, and shall not be affected by any notice to the contrary; (c) the principal of an the interest on this bond shall be paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any set-offs or cross-claims; and (d) the surrender to the obligor or any agent of the obligor of this bond and each of the coupons shall be a good discharge to the obligor for the same. IN WITNESS WHEREOF, the City of Las Vegas, Nevada, has caused this bond to be signed by its Mayor, countersigned by its City Treasurer, and its corporate seal to be affixed hereto and attested and counter­signed by its City Clerk, and the annexed coupons to bear the facsimile signatures of said officials, and this bond to be dated as of the first day of January, 1951. (Do not sign) Mayor Countersigned: (SEAL) ___________(Do not sign)___________ City Treasurer Attested and Countersigned: _____________(Do not sign)___________ City Clerk (Coupon Form) **$ 8.15 ** 30.00 ** 12.00 *** 1.22 *** 4.50 *** 1.80 No.* On the first day of January, 19 ****(unless the bond to which this coupon is attached has been called for prior redemption) the City of Las Vegas, County of Clark, State of Nevada, will pay the bearer hereof the sum of ** Eight and Fifteen One Hundredths Dollars ** Thirty Dollars ** Twelve Dollars *** One and Twenty-two One Hundredths Dollars *** Four and Fifty One Hundredths Dollars *** One and Eighty One Hundredths Dollars in lawful money of the United States of America, out of a special fund designated the "Street Improvement Assessment District No. 100-4 Bond Interest and Redemption Fund," or in the event said fund shall be insuf­ficient therefore out of its general fund, at the office of the City Treasurer of said City, being one year’s interest on its "Assessment District No. 100-4 Street Improvement Bond, Series of January 1, 1951," and bear- ing No. ____________ (Facsimile signature)________ Mayor