Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-299

275 Gentlemen: After studying the proposal of Mr. Lawren W. Gibbs in connection with his offer to purchase the $350,000.00 Sewer Disposal Plant Bonds upon being paid $5.00 per $100.00 on the Bonds Issued for his services in connection therewith, and the City's conditional acceptance conditioned upon the approval of all proceedings, resolutions and ordinance in connection therewith by the City Attorney of the City of Las Vegas, it is my opinion that such a procedure would be unconstitutional and void. Senate Bill No. 84 of the 1947 Session of the Legislature amending the Charter of the City of Las Vegas as found on Page 320 of the 1947 Statutes of Nevada, referring to "Sewage Bonds" provides, "Said bonds shall be sold at not less than their par value and shall be redeemable in the order of their Issuance within twenty-five years of their date of issue ......" In addition thereto, Section 6087 N.C.L. 1929 provides in part that any bonds issued by a municipal corporation shall be sold at not less than par and accrued interest, nor at any discount or commission be allowed or paid on the sale of such bonds. It is my opinion that an agreement wherein the City of Las Vegas would agree to pay a commission of $5.00 per $100.00 of the bonds sold would constitute a sale at a discount and be unlawful. It is my opinion that the City of Las Vegas through its Board of Commissioners does not have the authority to enter into an agreement for the sale of said bonds at a discount, and, therefore, the proposal, resolution and conditional acceptance is not approved by your City Attorney, because such acceptance is contrary to the law. Respectfully submitted, C. Norman Cornwall /s C. Norman Cornwall, City Attorney CNC:kb Thereafter Commissioner Moore moved that the City Manager be instructed to transmit a copy of the foregoing opinion to Mr. Gibbs. Motion seconded by Commissioner Whipple and carried by the following vote: Commissioners Clark, Moore, Whipple and His Honor voting aye; noes, none. Absent: Commissioner Baskin. There being no further business to come before the meeting at this time Commissioner Clark moved that this meeting adjourn until August 20, 1948 at the hour of 2 P.M. Motion seconded by Commissioner Moore and carried by the following vote: commissioners Clark, Moore, Whipple and His Honor voting aye; noes, none. Absent: Commissioner Baskin. APPROVED: ATTEST: Mayor City clerk Las Vegas, Nevada August 20, 1948 A regular meeting of the Board of Commissioners held this 20th day of August, 1948 was called to order by His Honor Mayor E. W. Cragin at the hour of 2:25 P.M. with the following members present: Commissioners Clark, Moore, Whipple, City Manager J. M. Murphy and City Clerk Shirley Ballinger. Absent: Commissioner Baskin and City Attorney C. Norman Cornwall. PROPOSED SEWER An ordinance entitled: AN ORDINANCE PROVIDING FOR THE IMPOSITION AND COLLECTION OF RATES, RENTAL ORDINANCE FEES AND CHARGES FOR THE USE OF THE SERVICES AND FACILITIES OF THE SEWAGE DISPOSAL SYSTEM OF THE CITY OF LAS VEGAS; AUTHORIZING AND EMPOWERING THE CITY TO REQUIRE CONNECTION WITH SANITARY SEWERS SERVED OR WHICH MAY BE SERVED BY SAID DISPOSAL SYSTEM; PROVIDING A PENALTY FOR THE FAILURE AND REFUSAL TO MAKE SUCH CONNECTION; AND PLEDGING THE NET REVENUES DERIVED FROM THE IMPOSITION OF SUCH RATES, FEES AND CHARGES AS ADDITIONAL SECURITY FOR THE PAYMENT OF THE LAS VEGAS SEWAGE DISPOSAL PLANT BONDS, SERIES OF MAY 1, 1948, was read by title to the Board and referred to a committee composed of Commissioners Clark and Whipple for report.