Las Vegas City Commission Minutes, September 21, 1955 to November 20, 1957, lvc000010-249

EMERGENCY ORDINANCE NO. 705 AN EMERGENCY ORDINANCE RATIFYING, APPROVING AND CONFIRMING ACTION DIRECTED TOWARD THE MAKING OF CERTAIN PUBLIC IMPROVEMENTS BY INSTALLING A SANITARY SEWER ALONG" CERTAIN STREETS, AND ALLEYS AND PORTIONS OF STREETS AND ALLEYS AND EASEMENTS; THE CREATION OF SANITARY SEWER IMPROVEMENT ASSESSMENT DISTRICT NO. 200-17 AND THE ISSUANCE OF IM­PROVEMENT BONDS; PROVIDING FOR THE ISSUANCE OF SAID BONDS; PRESCRIBING DETAILS IN CONNECTION THEREWITH; PROVIDING OTHER MATTERS PROPERLY RELATED THERETO; AND DECLAR­ING AN EMERGENCY. WHEREAS, the Board of Commissioners of the City of Las Vegas ,in the County of Clark, and State of Nevada, on the 11th day of April, 1956, did publicly sell its Assessment District No. 200-17 Sanitary Sewer Improvement Bonds, Series of March 1, 1956, in the aggregate principal amount of $20,207.91 In accordance with the laws of the State of Nevada, and City of Las Vegas; and WHEREAS, said Board desires to authorize and direct the issuance of said bonds. NOW, THEREFORE, THE BOARD OF COMMISSIONERS OF THE CITY OF LAS VEGAS DOES ORDAIN AS FOLLOWS: SECTION 1. That all action, proceedings, matters and things (not inconsis­tent with the provisions of this ordinance) heretofore taken, had and done by the City of Las Vegas and the officers of said City concerning the making of certain public improvements in Special Assessment District No. 200-17, and the levying of assessments and the issuance of its Special Assessment District No. 200-17, Sanitary Sewer Improvement Bonds, Series of March 1, 1956, therefor, including, without limit­ing the generality of the foregoing, the filing of plats and diagrams with the City Clerk, the declaration by ordinance of the Board of Commissioners' determination to make such improvements, the matters stated in said ordinance, the giving of notice of said filing and of said improvements as proposed, the publication and posting of said notice, the creation of said district by ordinance, the confirmation, adoption, and approval of the assessment roll 36-1956, and the public sale of said bonds to the State of Nevada, State Board of Investments be and the same hereby is ratified, approved, and confirmed. SECTION 2. That, for the purpose of defraying the entire cost and expense of making said improvements there be issued in the name of the City of Las Vegas special assessment negotiable coupon bonds designated "Assessment District No.200-17 Sanitary Sewer Improvement Bonds, Series of March 1, 1956," in the aggregate princi­pal amount of $20,207.91, consisting of twenty-one bonds numbered consecutively from 1 to 21, both inclusive, which bonds shall bear date as of the 1st day- of March, 1956, shall be in the denomination of $1,000.00 each, except bond numbered one which shall be in the denomination of $207.91, bearing interest at the rate of three and three fourths per cent (3-3/4%) per annum until paid in full, payable annually on the 1st day of March in each year, as evidenced by interest coupons attached to said bonds. Said bonds shall be numbered, shall be in the denomination of, and shall mature serially in regular numerical order on the 1st day of March in each of the years in­dicated as follows: BOND NUMBERS BOND AMOUNT MATURITY (All Inclusive Denomination Maturing Date 1 $ 207.91 2-3 1,000.00 $2207.91 3-1-57 4-5 1,000.00 2000 .00 3-1-58 6-7 1,000.00 2,000.00 3-1-59 8-9 1,000.00 2,000.00 3-1-60 10-11 1,000.00 2,000.00 3-1-61 12-13 1,000.00 2,000.00 3-1-62 14-15 1,000.00 2,000.00 3-1-63 16-17 1,000.00 2,000.00 3-1-64 18-19 1,000.00 2,000.00 3-1-65 20-21 1,000.00 2,000.00 3-1-66 Said bonds and the coupons thereto attached shall be payable in lawful money of the United States of American at the office of the City Treasurer of the City of Las Vegas at Las Vegas, Nevada. Said bonds shall be fully negotiable and shall have all the qualities of negotiable paper, subject to the payment provisions stated herein, and the holder or holders thereof shall possess all rights enjoyed by holders of negotiable instruments under the provisions of the Negotiable Instruments Law. Said bonds shall be signed by the Mayor of the City of Las Vegas, counter­signed by the City Treasurer, and its corporate seal shall be affixed to each bond and attested and countersigned by its City Clerk. The coupons attached to said bonds shall bear the facsimile signature of the Mayor, City Treasurer and City Clerk, which officers, by the execution of said bonds, shall adopt as and for their signatures the facsimiles thereof appearing on said coupons, and when said bonds are executed, said coupons shall constitute the binding obligations of said City for said interest. Said bonds and coupons bearing the signatures of the officers in office at the time of the signing thereof shall be the valid and binding obliga­tions of the City of Las Vegas, notwithstanding that before the delivery thereof and payment thereafter any or all of the persons whose signatures appear thereon shall have ceased to fill their respective offices. All of said bonds are subject to prior redemption in inverse numerical order at the option of the City on any interest payment date prior to aturity, at a price equal to the principal amount thereof with accrued interest to the re- demption date, whenever funds are available therefor. Notice of redemption shall be given by the City Treasurer in the name of the City of Las Vegas by publication of such notice at least once in each calendar week on any day of the week for at