Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-560

530 WHEREAS, the anticipated revenues of the City of Las Vegas for the year 1949 are inadequate to meet the aforesaid indebtedness and obligations and necessary expenditures, in addition to the current necessary general operating expenses, and WHEREAS, by reason of the foregoing, a great necessity and emergency exists in connection with the continued governmental operations of the City of Las Vegas, requiring the immediate acquisition of the sum One Hundred Sixty-Three Thousand Eight Hundred Twenty-eight and 6l/100ths Dollars (163,828.61) to defray the costs of such continued operations, now, therefore, be it RESOLVED by the Board of Commissioners of the City of Las Vegas, pursuant to an Act of the Legislature of the State of Nevada entitled "An Act regulating the fiscal management of counties, cities, towns, school districts, and other governmental agencies," approved March 22, 1917, as amended, that a temporary loan by the City of Las Vegas in the sum of One Hundred Sixty-three Thousand Eight Hundred Twenty-eight and 6l/100ths Dollars ($163*828.61) be and the same is hereby authorized for the purpose of meeting the necessity and emergency aforesaid, and be it further RESOLVED that the Mayor and City Clerk be and they are hereby authorized and directed to make, execute and deliver, as evidence of said emergency loan, the negotiable promissory note or notes, or short-time negotiable bond or bonds of the City of Las Vegas, to mature not later than Two and One-half (2 1/2) years from the date of the issuance thereof, to bear interest not to exceed eight per cent (8%) per annum, and be redeemable at the option of the City of Las Vegas at any time where money is available in the emergency tax fund hereinafter provided, and be it further RESOLVED that, at the first tax levy of the City of Las Vegas following the creation of the emergency indebtedness aforesaid, the Ex-officio City Assessor of the City of Las Vegas shall and he is hereby empowered, authorized and directed to levy a tax sufficient to pay said indebtedness which shall be designated "City of Las Vegas Emergency Tax," and the pro­ceeds thereof shall be paid into an emergency fund in the treasury of the City of Las Vegas and shall be used solely for the purpose of redeeming the emergency loan for which the same is levied, and be it further RESOLVED that the City Clerk be and she is hereby authorized and directed to immediately forward a certified copy of this emergency resolution to the State Board of Finance, at Carson City, Nevada, for its approval, as required by the Act aforesaid. ——oOo—— RESOLUTION NO. 142 WHEREAS, under date of February 18, 1949 the Board of City Commissioners passed a resolution declaring that an emergency and great necessity existed requiring a temporary loan for the purpose of meeting such necessity and emergency, and WHEREAS, pursuant to such resolution a notice of the intention of the Board to act thereon was duly published in the Las Vegas Evening Review Journal in its issue of February 20, 1949, reciting that at a meeting of the said Board of City Commissioners to be held on the 8th day of March, 1949 at the hour of 3:00 o'clock P. M. of said day in the Commissioners' Room in the City Hall in Las Vegas, Nevada, said Board would act upon a resolution reciting the character of the necessity and authorizing a temporary emergency loan in the sum of $163,828.6l, and WHEREAS, said Board of Commissioners did meet at the time and place specified, to-wit: on the 8th day of March, 1949 at the hour of 3:00 o'clock P.M. on said day in the Commissioners' Room in the City Hall in Las Vegas, Nevada, and WHEREAS, at said meeting action on said loan was duly postponed by said Board until the 17th day of March, 1949* which postponement was publicly announced by His Honor, the Mayor of the City of Las Vegas, Nevada, at that time, and WHEREAS, on the 17th day of March, 1949, at the time and place specified in said order of post­ponement said Commissioners met, and a full Board being present, said Board unanimously adopted a resolution reciting the existence of a great emergency and necessity for a temporary loan of $163,828.61, and in which resolution a temporary loan in said amount was unanimously authorized for the purpose of meeting the necessity and emergency existing, and WHEREAS, pursuant to the resolution last above mentioned a certified copy thereof was forwarded to the State Board of Finance of the State of Nevada for its approval, and WHEREAS, at its meeting held April 22, 1949, said State Board of Finance approved the action and resolution of the Board of City Commissioners of Las Vegas, State of Nevada, authorizing a temporary loan in the amount of $103,000.00 as in said resolution set forth and authorized, a certified copy of the resolution of said Board of Finance authorizing said temporary loan being in the words and figures following: " STATE BOARD OF FINANCE Meeting held April 22, 1949 RESOLUTION AUTHORIZING Board of City Commissioners of Las Vegas TO MAKE TEMPORARY EMERGENCY LOAN WHEREAS, It being made to appear to the satisfaction of the State Board of Finance, duly called and met in session under and pursuant to he provisions of that certain Act of the Legislature of Nevada entitled "An Act Regulating the Fiscal Management of Counties, Cities, Towns, School Districts and other Governmental Agencies," approved March 22, 1917* as amended, that a great necessity now exists for authorizing the obtaining of a temporary loan by and on the part of the Board of City Commissioners of Las Vegas for the purpose of meeting such emergency as expressed in and shown by the preamble and resolution unanimously adopted at a meeting of said Board of City Commissioners of Las Vegas duly called and held on the 8th ay of March, 1949, authorizing a temporary loan for the purpose set forth in SAid resolution, a duly certified copy of which is now on file and of record in the office of the State Board of Finance; and