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At this time the question of completing the sewage system of the City of Las Vegas came up for discussion, and it appearing to the Board of City Commissioners that pursuant to an Act of the Legislature approved March 27, 1931, the City Commissioners were authorized to issue bonds in a sum not to exceed in the aggregate the sum of $250,000.00 for the purpose of constructing sewage systems, including disposal plants, within said City and waste mains therefrom: And it appearing that in pursuance of such authority, the City Commissioners were authorized to issue bonds in the sum of $160,000.00; that in pursuance thereof, said City Commissioners did offer to sell and did sell bonds of said City aggregating the sum of $138,000.00, leaving $22,000.00 of said bonds authorized to be sold unsold; And it appearing that of the bonds sold $10,000.00 thereof represented by bonds numbered 7 to 16 inclusive, were sold to the First State Bank of Las Vegas, Nevada; that the bonds numbered 1 to 6 inclusive and 145 to 160 inclusive, aggregating $22,000.00, were never sold; that bonds numbered 17 to 144 inclusive, aggregating $128,000.00, were sold to the Nevada Industrial Commission; That of said bonds numbered 1 to 160 inclusive, the first 6 of the same, being unsold, were due and redeemable on the 1st day of July, 1933, and inasmuch as the same have been due and redeemable since July 1, 1933, the said bonds are not now available for sale; that bonds numbered 7 and 8, sold to the First State Bank of Las Vegas, Nevada, aggregating $2,000.00 were redeemed on the 1st day of July, 1933; bonds numbers 9 to 16 inclusive, aggregating $8,000.00, are redeemable on the 1st day of July, 1934, and Bonds Nos. 17 to 24 inclusive, aggregating $8,000.00, are due and redeemable on July 1st, 1935; and bonds Nos. 25 to 32 inclusive, aggregating $8,000.00, are due and redeemable July 1, 1936; That bonds 17 to 24 inclusive, due and redeemable July 1, 1935, and bonds 25 to 32 inclusive, aggregating $8,000.00, due and redeemable July 1, 1936, a total of sixteen bonds, were sold to the Nevada Industrial Commission and are now owned by and held by said Nevada Industrial Commission; That the only remaining available bonds that the City may sell the authorized issue are bonds Nos. 145 to 160 inclusive, aggregating $16,000.00, but in as much as the same are not due or redeemable until the years 1951 and 1952, owing to the condition of the bond market the same are difficult to sell; and whereas the Nevada Industrial Commission are willing to exchange bonds Nos. 17 to 32 inclusive, aggregating $16,000.00, for said bonds Nos. 145 to 160 inclusive, aggregating $16,000.00, so that the City may be in position to offer for sale bonds due and redeemable during the years 1935 and 1936; And it appearing to the Board that it would be enabled to complete the now unfinished sewer system of the City of Las Vegas if it had available approximately $16,000.00; and it further appearing that it the Board had in its possession bonds Nos. 17 to 32 inclusive, aggregating $16,000.00, that it could sell and dispose of the same and thus raise the money needed for the completion of said sewer project; NOW THEREFORE, on motion duly made seconded and carried, it was, RESOLVED, that the Mayor and City Clerk of the City of Las Vegas, Nevada, be and they are hereby authorized to exchange bonds numbered 145 to 160 inclusive, ag regating $16,000.00, which bonds are now unsold and held by the City of Las Vegas, for bonds numbered 17 to 32 inclusive, aggregating $16,000.00, which bonds were heretofore sold to and are now held by the Nevada Industrial Commission; BE IT FURTHER RESOLVED that the Mayor and City Clerk of the City of Las Vegas be and they are hereby authorized to do any and all things required in order to make such exchange, and to deliver said bonds numbered 145 to 160 inelusive to the Nevada Industrial Commission in exchange for bonds numbered 17 to 32 inclusive. The vote on the foregoing resolution was: Commissioners Arnett, German and Down and His Honor the Mayor voting aye. Noes none. No further business appearing before the Board at this time the meeting recessed until Friday the 16th day of February 1934 at the hour of three o'clock P.M. OFFICE OF THE CITY CLERK, CITY OF LAS VEGAS, CLARK COUNTY, NEVADA. FEBRUARY 16th, 1934. Minutes of a recessed regular meeting of the Board of Commissioners of the City of Las Vegas, Clark County, Nevada held on the 16th day of February 1934 at the hour of three o'clock P.M. Roll call showed the following present, Mayor Cragin, Commissioners Arnett, German and Down and City Attorney and City Clerk. Minutes of all previous meetings read and approved as read.