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Said special assessments made and levied to defray said cost, with accruing interest thereon, constitute a lien upon and against the property upon which assessments were made and levied from and after the 18th day of January, 1956, the date upon which the assessment roll therefor was confirmed and approved by the Board of Commissioners of said City. It is hereby certified, recited and declared that all acts, conditions and things essential to the validity of the bond exist, have happened and have been done in due time, form and manner as required by law, and that the total issue of said improvement bonds of said City for said improvements and incidental expenses, including this bond, does not exceed the amount authorized by law nor the special assessments levied to cover the cost of said improvements. It is hereby further certified, recited and declared that the proceedings with reference to making such improvements and levying the assessments to pay therefor have been regularly had and taken in compliance with law, and that all prerequisites to the fixing of the assessment lien against the property benefited by the improvements and of the personal liability of the owner or owners of such property therefor have been performed. This bond is subject to the condition, and every holder hereof by accepting the same agrees with the obligor and every subsequent holder hereof, that; (a) the delivery of this bond to any transferee shall vest title in this bond and in the interest coupons attached hereto in such transferee to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to bearer; (b) the obligor and any agent of the obligor may treat the bearer of this bond as the absolute owner hereof for all purposes, and shall not be affected by any notice to the contrary; (c) the principal of and the interest on this bond shall be paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any set-offs or cross-claims; and (d) the surrender to the obligor or any agent of the obligor of this bond and each of the coupons shall be a gooddischarge to the obligor for the same. IN WITNESS WHEREOF, the City of Las Vegas, Nevada has caused this bond to be signed by its Mayor, countersigned by its City Treasurer, and its corporate seal to be affixed hereto and attested and countersigned by its City Clerk, and the annexed coupons to bear the facsimile signatures of said officials, and this bond to be dated as of the first day of March, 1956. (SEAL) (Do not sign)_________ Mayor Attested and Countersigned: Countersigned: (Do not sign)_______ (Do not sign)________ City Clerk City Treasurer (Coupon Form) * $ 7.80 ** 37.50 No.---- On the first day of March ________****(Unless the bond to which this coupon is attached has been called for prior redemption) the City of Las Vegas, County of Clark, State of Nevada, will pay the bearer hereof the sum of * SEVEN AND EIGHTY ONE HUNDREDTHS DOLLARS ** THIRTY SEVEN AND FIFTY ONE HUNDREDTHS DOLLARS in lawful money of the United States of America, out of a special fund designated the "Assessment District No. 200-17 Sanitary Sewer Improvement Bond Interest and Redemption Funt", or in the event said fund shall be insufficient therefor out of its general fund, at the office of the City Treasurer of said City, being one year's interest on its "Assessment District No. 200-17 Sanitary Sewer Improvement Bond, Series of March 1, 1956," and bearing No._______ (Facsimile signature) Mayor (Facsimile signature) City Treasurer (Facsimile signature) City Clerk * (insert as amount of coupon for bond in denomination of $207.91) *** (insert as amount of coupon for bond in denomination of $1000.00) *** (insert in all coupons (Except No. 1) maturing on and after one year from date on each bond.) SECTION 5. That when said bonds have been duly executed, the City Treasurer in the City of Las Vegas shall deliver them to the lawful purchaser thereof on receipt of the purchase price. The funds realized from the sale of the bonds shall be applied solely to defray the cost and expense of making said improvements, but the purchaser of said bonds shall in no manner be responsible to the application by said City, or any of its officers, of any of the funds derived from the sale thereof.