Timed explosion?

I have this script attached to an object. It destroys it a second or so after it's created, and I want it to create a particle emitter once it does. However, the way I have it now, it just constantly instantiates the particle emitter on the object until it's destroyed. I'm also not really sure how the timer works in the first place.

Here's the code:

var explosion : ParticleEmitter;
var timer : float = 1.0;

function Update () {

    Destroy(gameObject, timer);
        Instantiate(explosion, transform.position, transform.rotation);

}

var explosion : ParticleEmitter;
var timer : float = 1.0;
var createTime : float = 0.0;

function Start() {
  createTime = Time.time;
}
function Update () {
  if ((Time.time - createTime) > timer)
  {
    Destroy(gameObject, timer);
        Instantiate(explosion, transform.position, transform.rotation);
  }
}