ORDINANCE NO. 2015-03
(of the City of West Wendover, Nevada)
An Ordinance Providing for the Issuance by the City of West Wendover of Its General Obligation (Limited Tax) Medium-Term Bonds, Series 2015 for Purpose of Acquiring, Constructing, Improving and Equipping a Street Project and Purchase Property for Public Safety; Providing Covenants, Agreements and Other Details Concerning the Bonds, the Project and General Tax Proceeds; Ratifying Action Previously Taken and Pertaining to the Foregoing by the City and Its Officers and Employees; And Providing Other Matters Relat- ing Thereto.
PUBLIC NOTICE IS HEREBY GIVEN, and that such Ordinance was proposed on June 2, 2015 and was passed and adopt- ed at a meeting held on June 16, 2015, by the following vote of the City Council:
Those Voting Aye: Gerald Anderson Nicolas Flores Ismael Gutierrez John Hanson Jasie Holm
Those Voting Nay: None
Those Abstaining: None
Those Absent: None
The Ordinance authorizes the is- suance of the “City of West Wendover, Nevada, General Obliga- tion (Limited Tax) Medium-Term Bonds, Series 2015” in the aggre- gate principal amount of not to exceed $2,200,000 (the “Bonds”)
PUBLIC NOTICE
in order to finance all or a part of the cost to acquire, construct and equip a street project, as defined in NRS 268.720 and purchase property for the benefit of the City as provided in NRS chap- ter 266, including equipment necessary for public safety (the “Project”). The Ordinance sets forth the details of the Bonds, including, but not limited to, the maturity date, the interest rate and the terms of prior redemption thereof. The Ordinance provides the terms of registration, transfer and exchange, execution and delivery of the Bonds. The Ordinance provides the form of the Bonds and the use of the pro- ceeds thereof for the acquisition, improvement, construction and equipment of the Project and the costs of issuance of the Bonds. The City makes a covenant in the Ordinance with respect to the ex- clusion of interest on the Bonds from gross income for purposes of federal income taxation under the Internal Revenue Code of 1986, as amended to the date of delivery of the Bonds. The Ordinance provides for the publication of the Ordinance in accor- dance with Nevada law.
This Ordinance shall be in full force and effect from and after July 9, 2015 i.e., 20 days after the publication of such Ordinance by its title, together with an adequate summary of the Ordinance.
IN WITNESS WHEREOF, the City Council of the City of West Wendover, Nevada, has caused this Ordinance to be published.
DATED this June 16, 2015. /s/ Mayor
Attest:
/s/ Anna Bartlome, City Clerk
Published in the High Desert ADVOCATE June 18, 2015.