Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-06-23
NO. 139
An Ordinance Creating a bonded In
debtedness for the Purpose of Paw
ing a Certain Portion of Carson
Street of Carson City, Nevada.

Street of Carson City, Nevada.
The Board of Trustees of Carson
CITY do Ordain:
Section l.. A bonded indebtedness
of Carson City. Nevada, in the sum
of thirty-tive thousand dollars ($35.
O0O), is hereby created, for the pur-
pose Of paying Carson street, of said
Carson City, from Washington street
on the north to Second street on the
south. with a standard asphalt pave
ment, consisting Of a tive-inch con
crete base and an inch and a half as
phalt top in accordance with the plans
and specifications on file in the city
clerks office OF said Carson City. ana
for the purpose OF doing other things
necessary or incidental Herewith.
Section 2. The Board OF Trustees
shall cause such bonds to be prepared
IN proper form, and OF one hundred
dollars t$lOO) denomination each,
bearing interest at the rate of five
60 per cent per mum payable tC
bearer at such times as may be deem
ed proper by said Board, the whole
being payable not later than the 10th
day Of June, 1923. Said bonds shall
be signed by the President of the
Board and countersigned by the
Clerk Of the Board who shall attach
thereto the official seal OF said Car.
o City.
Section 3. The Board of Trustees
of said Carson CITY shall negotiate
the sale of said bonds at such times
and in the manner they ma deem
proper, for not less than their par
value, the proceeds OF which shall be
placed in the city treasury to the
credit Of the Street Paving Fund"
which fund is hereby created for the
purposes mentioned in this ordinance.
Section 4. Said bonds shall be
redeemable only at the office of the
City Clerk of said Carson City. at the
rate Of t%hirtyhve (35l bonds or thir-
ty-five hundred dollars (S3,50O per
annum from the 10Th day OF June.
1918. until the whole have been re-
deemed. but not later than the 10th
dav of June. 1923.
Section 5. Interest shall be paid
on each bond at a rate not in excess
Of five 60 per ent per annum. pay
able semi-annuallv on the 10th day
Of June and December Of each year.
Each bond shall have attached there
to interest coupons conseCutivel"
numbered, and each coupon shall Ell
title the holder thereof to the amout
Of interest due on said bond on each
succeeding 10th day of June and De-
cember of each year. The first
coupon upon each of said bonds shall
represent the fractional part Of one
years interest from the date OF issue
to the 10th day of June next ensuing.
Section E. For the purpose OF
creating a fund for the payment OF
the above mentioned bonds and in
terest, the Board Of Trustees OF said
Carson City, by ordinance, shall as.
sess all owners of assessable real
property abutting on that portion of
Carson street between Washington
street on the north and Second street
on the south for the cost Of so paw
ing said street as abut their said
property. but not in excess of 80 per
cen of the assessed valuation of their
said property as the same appears
from the last annual assessment
thereof, made for state and county
purposes, and not at a cost greater
than twenty-nine (2o) cents per