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Las Vegas, Nevada December 9, 1955 A recessed regular meeting of the Board of Commissioners of the City of Las Vegas, Nevada, held this 9th day of December, 19% was called to order at the hour of 5.15 P.M. by His Honor Mayor Baker with the following members present: Mayor C. D. Baker Commissioner Wendell Bunker Commissioner E.W. Fountain Commissioner Harris P. Sharp Commissioner Reed Whipple City Manager A.H. Kennedy Asst. City Manager Robert W. Notti City Attorney Howard W. Cannon City Clerk Shirley Ballinger Commissioner Sharp moved the action of the Commission of November 16, 1955 introducing the bond ordinance for the general obligation bond issue be rescinded. Motion seconded by Commissioner Bunker and carried by the following vote: Commissioners Bunker, Fountain, Sharp, Whipple and His Honor voting aye; noes, none. Commissioner Whipple introduced the following emergency ordinance, and moved its adoption, whereupon it was read in full to the Board. EMERGENCY ORDINANCE NO. 680 AN ORDINANCE DECLARING THE RESULT OF THE SPECIAL BOND ELECTION HELD AT THE SAME TIME AS THE GENERAL CITY ELECTION OF MAY 3, 1955; RATIFYING APPROVING, AND CONFIRMING ACTION HERETOFORE TAKEN RELATING TO, AND PROVIDING FOR THE ISSUANCE OF $2,875,000.00 NEGOTIABLE COUPON BONDS OF THE CITY OF LAS VEGAS, INCLUDING ITS GENERAL OBLIGATION SEWER BONDS, SERIES DECEMBER 1, 1955, IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,000,000.00 GENERAL OBLIGATION POLICE DETENTION BONDS, SERIES DECEMBER 1, 1955, IN THE AGGREGATE PRINCIPAL AMOUNT OF $275,000.00, GENERAL OBLIGATION FIRE EXTINGUISHING SYSTEM BONDS, SERIES DECEMBER 1, 1955, IN THE AGGREGATE PRINCIPAL AMOUNT OF $400,000.00, AND GENERAL OBLIGATION FIRE ALARM SYSTEM BONDS, SERIES DECEMBER 1, 1955, IN THE AGGREGATE PRINCIPAL AMOUNT OF $200,000.00; PRESCRIBING THE FORM OF SAID BONDS; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL AD VALOREM TAX; AUTHORIZING THE EXECUTION OF SAID BONDS; AND PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH. AND DECLARING AN EMERGENCY. WHEREAS, the City of Las Vegas is a municipal corporation duly organized and existing under the general statues of the State of Nevada; and WHEREAS, at a special bond election duly called and held within the City of Las Vegas at the same time as the general city election on Tuesday, the 3rd of May, 1955, the following proposals were submitted to the qualified electors of the City of Las Vegas: (a) "Shall the City of Las Vegas issue its negotiable coupon General Obligation Sewer Bonds in the aggregate principal amount of $2,000,000.00, or so much thereof as may be necessary, for the purpose of defraying, in part, the cost of improving the existing sanitary sewer system, by acquiring,sites and rights-of-way therefor and acquiring, constructing and establishing additional sanitary sewer lines, an additional sanitary sewerage disposal plant, a sanitary sewer effluent disposal system, and other appurtenances to said system, said bonds to bear interest at a rate of not more than seven (7) percent per annum, and to mature serially in regular numerical order at annual intervals, commencing not later than the year 1958, and ending not later than the year 1980, both inclusive, said bonds maturing after the year 1966, to be subject to prior redemption, at the option of the City on such terms as the Board of Commissioners may determine on any interest payment date on and after ten (10) years from the date of the bonds, principal and interest to be payable from an annual general tax levy, and from such other sources available therefor as the Board of Commissioners may at its option determine." (b) "Shall the City of Las Vegas issue its negotiable coupon General Obligation Police Detention Bonds in the aggregate principal amount of $275,000.00, or so much thereof as may be necessary, for the purpose of defraying, in part, the cost of improving the police detention facilities, by establishing, constructing, and otherwise acquiring Las Vegas Police Prison buildings and a suitable site and grounds therefor and extending and bettering the present Las Vegas Police Station Building in order to increase the jail facilities thereof, said bonds to bear interest at a rate of not more than seven (7) percent per annum and mature serially in regular numerical order at annual intervals, commencing not later than the year 1958, and ending not later than the year 1980, both inclusive, said bonds maturing after the year 1966, to be subject to 12-9-55 GENERAL OBLIGATION BOND IS5UE Ordinance No. 680