Las Vegas City Ordinances, November 13, 1950 to August 6, 1958, lvc000015-467

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 good dis­charge 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 coupons 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 State of America, out of a special fund designated the “Assessment District No. 200-17 Sanitary Sewer Improvement Bond Interest and Redemption Fund", 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 (Facsimile signature)______ Mayor (Facsimile signature)______ City Treasurer No. (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 for the application by said City, or any of its officers, of any of the funds derived from the sale thereof. SECTION 6. That the officers of the City of Las Vegas be, and they hereby are, authorized and directed to take all action necessary or appropriate to effectuate the provisions of this ordinance, including, without limiting the generality of the foregoing, the printing of said bonds and the execution of such certificates as may reasonably be required by the purchasers thereof, relating, inter alia, to the signing of the bonds, the tenure and identity of the municipal officials, the amounts certified on the assessment roll together with the amount of cash payments, the accuracy of property descriptions, the receipt of the assignable certificates and the delivery of the bonds, and the absence of litigation pending or threatened affecting the validity of the bonds. SECTION 7. That after said sanitary sewer improvement bonds are issued, this ordinance shall be and remain irrepealable until said bonds and the interest thereon shall be fully paid, certified and discharged, as herein provided.