Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-600

569 full, or, at the owners' option, the whole of the unpaid principal with interest accruing thereon to the next interest paying date being pay­able at any time; provided, however, that in the event said fund shall be insufficient to pay said bonds and interest thereon as they become due, the deficiency shall be paid out of the City's general fund. Bidders are required to submit a bid specifying (a) the lowest rate of interests and premium, if any, above par at which the bidder will purchase said bonds; of (b) the lowest rate of interest at which the bidder will purchase said bonds at par. All of the bonds shall bear one rate of interest, but said interest nay be payable by one or more sets of coupons. The bonds will be sold to the bidder making the best bid, Subject to the right of the corporate authorities of the City of Las Vegas to reject any and all bids and readvertise. None of said bonds shall be sold at less than par and accrued interest, nor will any discount or commission be allowed or paid on the sale of such bonds. All bids shall be sealed and, except the bid of the State of Nevada, shall be accompanied by a deposit of five percent, either cash or certified check, of the amount of the bid, which will be returned if the bid is not accepted; and if the successful bidder shall fail or neglect to complete the purchase of said bonds within thirty days fol­lowing the acceptance of his bid, the amount of his deposit shall be forfeited to the City of Las Vegas, and, in that event, the corporate authorities of said City may accept the bid of the one making the next best bid, or if all bids are rejected, such authorities may readvertise said bonds for sale. If there be two or more equal bids and such bids are the best-bids received, and are not less than par and accrued interest, the corporate authorities will determine which bid shall be accepted. The legality of the bonds will be approved by Messrs. Pershing, Bos­worth, Dick, and Dawson, Attorneys at Law, Denver, Colorado, whose opinion, together with the printed bonds, will be furnished the purchaser without charge. DATED at Las Vegas, Nevada, this 24th day of January, 1951. (SEAL) REED WHIPPLE Mayor Pro Tem ATTEST: SHIRLEY BALLINGER City Clerk j29, f5, 12, 19, 26 It was then moved by Commissioner Moore and seconded by Commissioner, Bunker that all rules of this Board which might prevent, unless suspended, the final passage and adoption of the foregoing resolution at this meeting be and the same are hereby sus­pended for the purpose of permitting the final passage and adoption of said resolu­tion at this meeting. The question being upon the adoption of said motion and the suspension of the rules, the roll was called with the following results Those voting aye: Commissioner Bunker Commissioner Moore Commissioner Peccole Mayor Pro Tem Whipple Those voting nay: None Absent: Mayor Cragin All members of the Board of Commissioners having voted in favor of said motion the Mayor Pro Tem declared said motion carried and the rules suspended. Commissioner Moore then moved that said resolution be now placed upon its final passage and adopted. The question being upon the passage and adoption of said resolution, the roll was called with the following result: Those voting aye: Commissioner Bunker Commissioner Moore Commissioner Peccole Mayor Pro Tem Whipple Those voting nay: None Absent: Mayor Cragin The Mayor Pro Tem thereupon declared that all the Commissioners present having voted in favor thereof, said motion was carried and the said resolution duly passed, and adopted. .. oOo—----- RESOLUTION 214 Commissioner Moore introduced and moved the adoption of the following resolution, which was thereupon read in full, and at length, and is as follows: WHEREAS, the City of Las Vegas, in the County of Clark, and State of Nevada, and the officers thereof, have taken action to improve certain streets and parts of streets therein; and WHEREAS, said City has created Street Improvement Assessment District No, 100-3 for the purpose of making said improvements; and WHEREAS, said City assessed the entire coat and expense of making said improve- ments including all incidental expenses which cay be legally included in the sums assessed, against the owners and the assessable lots, premises and property specially benefited by such improvements and included within said District; and