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Mr, Hay Marks, Tax Agent Southern Pacific Company 139 Reno ,I * NVeviardgai;nia street $3*4 f 73 (/Otiiiff 14% - f a W M . R. MAR 10 ^ (ce - Mr, Wm. Heinhardt - LosA. § i Los Angeles, Marsh 9, 1949 Mr, Calvin M* Cory SI Ranch Motel > a \* Carson City, Nevada Y*o ^ Mr. A. M. Folder, LVL&WCo. Las Vegas, Nevada ) Nevada Senate Bill No. 1 ^ Mr. Cory has called to ay attention the above bill which you should do everything possible to defeat. It is detrimental to the interests of the Railroad and the Water Company and cer­tainly is detrimental to the interests of all other property owners in the Las Vegas Utility District* The bill amends the act under which the district was created by Increasing the power of the directors of the district In their own discretion to require the levying of taxes to sup­port the district and to issue bonds which become a charge upon all property in the district. There are many arguments which bcealno wb:e made in opposition to this bill, same of which I mention 1, The amendments proposed in this bill make a radical change in the method of financing the district which was con­tteedm ptlaot etdh e atv otteh e otf imteh e tphee opfloer mfaotri oanp porfo vtahle. disThter icotr iwgaisn als uabcmtit­under which the district was formed limited the power of the district to levy taxes to those which were required to get the district under way. The act provided that the district could cause taxes to be levied "For the purposes of paying any obli­gation of the district during Its organizational stage— and further to assist in the operational expenses of said district until such taxes are no longer required therefor." 2. The act originally required that the bonds were self liquidating and to be paid only from the revenues of the district. w . n : x MAR 25 1149