Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-275

Board of Finance and that the foregoing is a full, true, and correct copy of a resolution duly adopted by unanimous vote of the State Board of Finance at a meeting held on the 21st day of April, 1927. Dated this 21st day of April, 1927. True Vencill_________________ Secretary of the State Board of Finance. and WHEREAS, First State Bank of Las Vegas, Nevada, Incorporated, has offered to loan said City the sum of Two Thousand ($2,000.00) Dollars for the period of two and one-half years, with inter­est from date of loan to maturity and until paid at the rate of six per cent per annum payable semi-annually, and WHEREAS, Bank of Southern Nevada, Incorporated, has offered to loan said City the sum of Two Thousand Five Hundred ($2,500.00) Dollars for the period of two and one-half years, with in­terest from data of loan to maturity and until paid at the rate of six per cent per annum, pay- able semi-annually, NOW THEREFORE, BE IT RESOLVED, that the Mayor and City Clerk, in pursuance of said Resolu­tion, adopted by this Board and approved said State Board of Finance, as aforesaid, be and they are hereby authorized and directed to borrow for the purpose set forth in said Resolution from First State Bank of Las Vegas, Nevada, the sum of Two Thousand Dollars, for a period of two years and one-half from date of such loan, and execute and deliver on behalf of said City of Las Vegas its promissory note in said sum of Two thousand Dollars, to be payable to said First State Bank of Las Vegas, Nevada, Incorporated on or before two and one-half years from the date thereof, and to bear interest at the rate of six percent per annum, payable semi-annually, to be redeemable at the option of this board at any time when money is available in the Emergency Tax Fund, to be known as the "City of Las Vegas, Nevada Emergency Tax," to be levied by this City at the first tax levy following the creation of such indebtedness; and that said Mayor and City Clerk be and they are hereby authorized and directed to borrow for the purposes set forth in said Resolution from Bank of Southern Nevada, Incorporated, the sum of Two Thousand Five Hundred Dollars ($2,500.00) for a period of two and one-half years from the date of such loan, and execute and deliver on behalf of said City of Las Vegas its promissory note in said sum of Two Thousand Five Hundred Dollars, to be payable to said Bank of Southern Nevada, Incorporated, on or before two and one-half years from the date thereof, and to bear interest at the rate of six per cent per annum payable semi­annually, to be redeemable at the option of this Board at any time when money is available in the Emergency Fund, to be known as the "City of Las Vegas, Nevada Emergency Tax," to be levied by this City at the first tax levy following the creation of such indebtedness. The vote on the foregoing Resolution was as follows: Commissioner Mundy, Smith, and his Honor the Mayor Hesse, Aye. Noes, none. There being no further business before the meeting the same was adjourned until May 6, 1927, OFFICE OF THE CITY CLERK OF THE CITY OF LAS VEGAS, CLARK COUNTY, NEVADA. May 6, 1927 At a regular adjourned meeting of the Board of City Commissioners of the City of Las Vegas Clark County, Nevada, held on the 6 day of May, 1927, at the hour of three o'clock p.m. Present: His Honor the Mayor, J. F. Hesse, with Commissioners W. B. Mundy and O. J. Smith, together with the City attorney and Clerk. Meeting called to order by the Mayor.