Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-446

provided, that all such assessments, or any part thereof, may, at the election of the owner, be paid in installments with interest, as hereinafter provided. Failure to pay the whole assessment, or any part thereof, within said period of two weeks shall be conclusively considered and held an election on the part of all persons interested, whether tinder disability or otherwise, to pay in such installments. In case of such election to pay the installments, the unpaid assessments shall be payable at the office of said Ex-Officio City Treasurer in ten substantially equal annual installments of principal, the first of which installments of principal shall be due and payable on or before the 1st day of March, 1957 and the remainder of said installments shall be due and payable successively on or before the same day in each year thereafter until paid in full, with interest in all cases on the unpaid and deferred in­stallments of principal from the 1st day of March, 1956, at the same rate of interest as that pro­vided for in the special assessment bond to be hereafter authorized, sold, issued and delivered, but not to exceed seven per centum (7%) per annum payable annually at the office of said Ex-Officio City Treasurer, the first annual, payment of interest being due and payable on the said 1st day of March, 1957 and the remainder of said annual installments of interest being due and payable on the 1st day of March in each year thereafter. Failure to pay any installment, whether of principal or interest, when due, shall cause the whole of the unpaid principal to become due and payable immediately, and the whole amount of the unpaid principal and accrued interest shall thereafter bear penalty at the rate of ten per centum per annum, until the day of sale, but at any time prior to the day of the sale, the owner may pay the amount of all unpaid installments, with interest thereon at ten per centum per annum, and all penalties accrued, and shall thereupon be restored to the right thereafter to pay in installments in the same manner as if default had not been suffered. The owner of any property not in default as to any installment or payment, may, at any time, pay the whole of the unpaid principal with interest accruing thereon to the next interest paying date. Each assessment, together with interest thereon, shall be placed on the tax roll of Clark County on and against the several owners and premises, and the County Assessor of Clark County, Acting Ex-Officio Assessor of the City of Las Vegas, is hereby authorized and directed to enter the same on the tax roll of said County and to extend the same in a special column for special assessments on said tax roll, and the County Treasurer of said County, the Ex-Officio City Treasurer and Ex-Officio Tax Collector of the City of Las Vegas, is hereby authorized and directed to collect the same, all in the same manner and at the same time as other State and County taxes are collected. SECTION 11. That the special assessments, both principal and interest, when collected, shall be placed in a special fund to be known as "Street Improvement Assessment District No. 100-36 Bond In­terest and Redemption Fund" and as such shall at all times constitute a sinking fund for and deemed specially appropriated to the payment of the special assessment improvement bonds and interest thereon, to be hereafter authorized, sold issued and delivered for the purpose of paying in part the cost or expense of said improvements; and said fund shall be applied to payment for the improvements for which said assessments were made, and shall not be used for any other purpose until said bonds and the interest thereon is fully paid. SECTION 12. That after said amended assessment roll has been confirmed and approved, said Ex- Officio City Treasurer immediately shall notify each person known to said Ex-Officio City Assessor, whose name appears on said amended assessment roll, by United States of America mail, that an assess­ment has been levied against said person and the designated property in said Street Improvement Assess­ment District No. 100-36 and shall state therein when and where said assessment is due and payable. SECTION 13. That all action (not inconsistent with the provisions of this Ordinance) hereto­fore taken by the City of Las Vegas, and the officers of said City, directed toward the paving, curb­ing and guttering, and installing concrete valley gutters on certain streets and parts of street therein and otherwise improving certain streets and parts of streets in said Street Improvement Assessment Dis­trict No. 100-36, toward the creation of said District, and toward levying and effecting special as­sessments to defray the entire cost thereof be, and the same is, hereby ratified, approved and confirmed. SECTION 14. That V.C. Mendenhall, Inc., the successful bidder on the contract for said dis­trict shall be and hereby is awarded the contract to do the work provided for in said district, and all proceeding heretofore taken in the award of said contract are hereby ratified, approved, and con­firmed. SECTION 15. That the entire cost and expense of making said improvements, including all in­cidental expenses which may be legally included in the sums assessed, including, without limiting the generality of the foregoing, the cost of surveys, plans, assessments, the costs of construction and and the fees and compensation properly charged in the work of making special assessments, shall be Defrayed by special assessments made according to the benefits against the owners and the assessable lots, premises and property specially benefited by such improvements and included within said District proportionately to the benefits received. The entire cost and expense of making said improvements are deemed to be $624,448.72 and the total of the special assessments so levied shall be in that amount. SECTION 16. That all by-laws, orders, resolutions and ordinances, or parts of by-laws, orders, resolutions and ordinances, in conflict with this ordinance, are hereby repealed. SECTION 17. That if any one or more sections, sentences, clauses, or parts of this ordinance shall, for any reason, be questioned or be held invalid, such judgment shall not affect, impair or in­validate the remaining provisions of this ordinance, but shall be confined in its operation to the specific sections, sentences, clauses or parts of this ordinance so held unconstitutional and invalid, and the inapplicability and invalidity of any section, sentence, clause or part of this ordinance, in any one or more instances shall not affect or prejudice in any way the applicability and validity of this ordinance in any other instances. SECTION 18. That by reason of the fact that the streets of the City of Las Vegas are inade - quate to meet the present and future needs of the City and its inhabitants and that it is necessary immediately to raise fund to improve said street, therefore, it is hereby declared than an emergency exists, and that this ordinance is necessary for the immediate preservation of the public peace, health and safety.