Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-97

Section 3: That each of said bonds herein authorized shall be signed by the Mayor of the said Board of City Commissioners and by the Clerk of this Board and by her sealed with the corporate seal of said City, which seal shall be impressed thereon and to be countersigned by the Treasurer of said City, as above set forth, and said Officers are hereby authorized, ordered and directed to cause said bonds to be prepared substantially in the form respectively hereinabove set forth and to execute the same for, and on behalf of said City as in the manner aforesaid; that after their execution, said bonds and each of them shall be by the City Treasurer of said City, delivered to the State of Nevada the lawful purchaser, upon the payment of the aggregate purchase price, to-wit: Thirty-one thousand, Four hundred twenty four and Forty Hundredths ($31,424.40) dollars and accrued interest, and when said bonds shall have been delivered to said purchaser legality of the indebtedness created by said bonds or the levying and collection of taxes for their payment, shall not be open to contest by any person or persons, corporation or corporations, or by said City for any reason whatever. Section 4: And it is hereby ordered and directed that any interest falling due on said Highway Bonds on or before December 1,1924, shall be and the same is hereby ordered apportioned and paid by the City Treasurer of said City from the General funds of said City or out of any funds belonging to said City not otherwise apportioned and for the purpose of providing necessary funds to reimburse said General Fund or other fund or funds for the amount of any money borrowed from it, and also to pay the interest accrued on said bonds subsequent to December 1,1924, promptly and after the same falls due and to con­stitute and maintain a fund to be designated "Las Vegas Highway Bonds (Series 1923) redemption and sinking fund", sufficient to pay the interest on said bonds promptly when and as the same fall due and to discharge the principal of said bonds promptly at their maturity, and there shall be levied and collected annually a sufficient tax on all property, both real and per- within the boundaries of said City of Las Vegas, Clark County, Nevada, to pay the interest on said bonds as the same accrues according to the tenor and the maturity thereof, the principal of said bonds at the time provided therein and hereinabove set forth in this resolution. Such tax shall be levied and collected in the same manner and at the same time as taxes are assessed and collect­ed in said City of Las Vegas, and the proceeds thereof shall be kept by the City Treasurer in a special fund . Section 5. That it be and it is hereby certified, recited and warranted that all con­ditions, acts and things necessary and essential to the validity of the bonds of said City in this order mentioned, and required by law to be done, have been duly done and performed and the proceeds to be derived from the issue of said bonds are immediately necessary for the purpose aforesaid. Section 6. That the Mayor and Clerk of this Board and the Treasurer of said City, or any or either of them are hereby authorized, ordered and directed to furnish the purchaser of said bonds sufficient transcripts and other documents and proceedings preliminary to the issue and delivery of said bonds and the legality and sufficiency thereof and validity of said bonds and the acts of said officers in the premises are hereby declared ratified, approved