Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-165

Bonds 35 and 36 to become due and payable on or before the 1st day of July, 1942; bonds 37 and 38 to become due and payable on or before the 1st day of July, 1943. The payment and redemption of said bonds will be in the order of their issuance the lowest bonds to be the first redeemed and so on until the whole amount of said bonds shall have paid and redeemed. Each of said bonds shall have coupons attached each representing each interest installment to date of maturity of the principal. Both interest and principal of said bonds shall be payable in Gold Coin of the United States of America ,at present standard at the office of the City Treasurer of the City of Las Vegas, in the City of Las Vegas, County of Clark, State of Nevada. Interest on said bonds shall cease as the same mature. Section 2; And it is further resolved by the Board that the Four Thousand ($4,000.00) dollar bond issue be, and the Clerk is hereby authorized to have printed, a coupon bond, and said bond shall be in substantially the following form, respectively- to-wit; (FORM OF BOND) UNITED STATES OF AMERICA "NO._______ STATE OF NEVADA $1000.00 COUNTY OF CLARK LAS VEGAS HIGHWAY BONDS (1925 Series) KNOW ALL MEN BY THESE PRESENTS: That the City of Las Vegas, a municipal corporation duly or­ganized and existing under the laws of the State of Nevada, acknowledges itself to be indebted and for value received hereby promises to pay the bearer on the _______day of _____________,19______ the principal sum of One Thousand Dollars. together with interest thereon from date hereof until paid, at the rate of six per centum (6%) per annum, payable semi-annually on the first day of July, and the 2nd day of January of each year, which interest to the date of the mat­urity of the principal is evidence by and payable upon presentation and surrender of the annexed interest coupons as they severally become due. Interest on this bond shall cease on the date when the bond becomes due and payable. Both principal and interest on this bond are payable in Gold Coin of the United States of America, at present standard, at the office of the City Treasurer, in the City of Las Vegas, County of Clark, State of Nevada, and for the prompt payment of the principal and interest of these bonds as they respectively become due, the full faith, credit and resources of said City are hereby irrevocable pledged. This bond is one of a series of like date, tenor and amount but different maturities, issued for the purpose of constructing a highway through said City of Las Vegas to connect with Route 6 of the State Highway System, and pursuant to an election duly called and held at which more than a majority of the qualified electors voted in favor of the issuance of said bonds, and proceedings of the Board of City Commissioners duly passed and adopted, and is authorized by and issued in full conformity with requirements of the Constitution and laws of the State of Nevada, including Chapter 74 of the Session Laws of said State for the year 1923 and all acts of the Legislature amendatory and supplemental thereto. It is further certified and recited that all acts, conditions and things required by the Constitution and laws of the State of Nevada to exist, happen and to be performed pre­cedent to and in the issuance of this bond, have existed, happened and have been performed in regular and due form, time and manner as required by law, and that the amount of this bond, to­gether with all other indebtedness of said City, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, said Board of City Commissioners of said City have caused this bond to be signed by the Mayor of said City, Countersigned by the CITY Treasurer, and auth­enticated by the seal of said City, and the interest coupons hereto annexed to be authenticated with the lithographed facsimile signatures of said Mayor and the City Treasurer, and this bond to be dated the 1st day of January,, 1925.