upr000096 47

expenses in connection therewith, and expenses incurred in connection with the authorization and issuance of the bonds, including but w ithout limitation, engineering and legal fees and expenses, fiscal agents’ fees and expenses, and the paym ent of interest on the bonds during the period of construction of any improvements for which the bonds were voted and for six months thereafter. The proceeds from the sale of the first bonds issued by the district may also be used to repay any amounts advanced to the district by Clark County, which have not been repaid at the tim e the bonds are issued. Pending the preparation or execution of definitive bonds, interim receipts or certificates or tem porary bonds may be delivered to the purchaser of said bonds. All bonds issued under the provisions of this act shall constitute negotiable instrum ents within the meaning of the negotiable instrum ents law as th at law is now or may hereafter be in force in the State of Nevada. (As amended, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 16f. In addition to the power to issue general obligation bonds of the district, as hereinbefore set forth, the district shall also have the power, under proceedings taken in accordance w ith this section, to issue bonds payable solely from, and secured by a pledge of, revenues derived from the operation of the works or properties constructed, acquired, extended or improved with the proceeds of such bonds, or any portion of such revenues; provided, however, th at no bond of the district, w hether a general obligation bond or a bond payable solely from revenues, shall have any priority with respect to paym ent of principal and interest out of revenues of the district over any other bond of the district theretofore or thereafter issued. (As amended, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 16g. The board by resolution shall provide for the creation of a sinking fund into which shall be paid sums fully sufficient to pay principal of and interest on such bonds and to create such reserve for contingencies as may be provided in such resolution. Moneys in the sinking fund shall be applied to the paym ent of interest on and principal of the bonds or to the purchase or retirem ent of the bonds prior to m aturity in such manner as may be provided in said resolution. Such sinking fund and any reserve or contingency fund, or both, for which provision may be made by resolution may be kept on deposit in any bank or banks within or w ithout the state which may be designated in such resolution. (As amended, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 16h. The board may by resolution make such covenants with the future holder or holders of the bonds as to the m anagement and operation of the works or properties, the imposition and collection of rates and charges for the products or services furnished thereby, the disposition of such rates and revenues, the,issuance of future bonds and the creation of future liens and encumbrances against said works or properties and the revenues thereof, the carrying of insurance on the properties constituting such works, the disposition of the proceeds of any such insurance, and other pertinent m atters as may be deemed necessary by the governing body to assure the m arketability of such bonds; provided, such covenants are not inconsistent w ith the provisions ofi this act. (As amended, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 16i. The board may subm it to the electors of the district a proposal for the issuance of bonds of the district for the purpose of refunding any or all of the outstanding bonds of the district. Such refunding bonds may either be sold and the proceeds applied to the retirem ent of the outstanding bonds, or may be delivered in exchange for the outstanding bonds. The refunding bonds shall be authorized in all respects as original bonds are herein required to be authorized, and the governing body in adopting by resolution the proposal to be subm itted at any bond election for the refunding bonds shall provide for the security of such bonds and the source from which such bonds are to be paid and for the rights of the holders thereof in all respects as herein authorized to be provided for other bonds issued under authority of this act. The governing body may also provide th at the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the bonds refunded. (As amended, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 17. T hat in addition to all other remedies, any holder of a bond of the district incor­porated under this act, including a trustee for bond holders, shall have the right, subject to any contractual limitations binding upon such bond holders or trustee, and subject to the prior or superior rights of o th ers: (1) By mandamus or other suit, action or proceedings, at law or in equity, to enforce his rights against such district and the board of such district, including the right to require such district and such board to fix and collect rates and charges adequate to carry out any agreement 9 as to, or pledge of, the revenues produced by such rates or charges, and to require such district and such board to carry out any other covenants and agreements w ith such bond holder and to perform its and their duties under this act. (2) By action or suit in equity to enjoin any acts or things which may be unlawful or a violation of the rights of such bond holder. (3) By action or suit in equity to require such authority to act as if it were the trustees of an express tru st for such bond holder. (4) By suit, action, or proceeding in court exercising equitable jurisdiction to obtain the appointm ent of a receiver of the enterprise in which the district is engaged or any part or parts thereof, who may enter and take possession of such utility or any part or parts thereof, including all property, land, property rights, easements, and other adjuncts of the utility, and such receiver may operate and m aintain the same, and collect and receive all revenues thereafter arising there­from in the same m anner as such district itself m ight do, and shall deposit all such moneys in a separate account or accounts and apply the same in accordance with the obligations of such district as the court shall direct. Section 18. The board of county commissioners of Clark County shall advance such funds to such district as may be necessary to pay the preliminary organization, administration, and engineering costs thereof, including bond elections as provided in section 16 of this act, on such term s of repaym ent as may be agreed upon, and said county is hereby authorized to declare an emergency and secure necessary funds in the manner now provided by law authorizing short­term loans. ; , (As amended, Chap. 130, Nevada Statutes, 1951.) Section 19. This act shall in itself constitute complete authority for the doing of the things herein authorized to be done. The provisions of no other law, either general or local, except as provided in this act, shall apply to doing of the things herein authorized to be done, and no board, agency, bureau or official, other than the governing body of the district shall have any authority or jurisdiction over the doing of any of the acts herein authorized to be done nor shall any proceed­ings, nor publication, notice of election be required for the doing of such acts except as herein specifi­cally required. There is hereby granted to said district the right to own and operate its w ater distribution system within the boundaries of any municipal corporation lying wholly or partly within the boundaries of the district, and no franchise tax shall be payable for such privilege, but it shall be the duty of the district to install and operate its properties and facilities within the boundaries of such municipal corporation in such manner as to cause a minimum of inconvenience, and it shall further be the duty of the district, where such facilities are installed in the public streets and alleys of any such municipal corporation, to restore the surface of such streets and alleys to as good condition as they were in prior to such installation. Since the w ater district, for the creation of which provision is herein made, is created for the purpose of supplying its inhabitants w ith w ater as a public and municipal function, all property of the district shall be exempt from taxes by the State of Nevada and the political subdivision thereof, and the bonds issued by the district and the income therefrom shall also be exempt from taxation in this state. Said district and the Colorado river commission are hereby authorized to enter into such leases and agreements w ith each other for short or long term s as may be considered mutually desirable in order to carry out the purposes of this act, and any such agreement or agreements may specifically, but w ithout limitation, grant to said district the right to take from the Colorado river all w ater not heretofore otherwise appropriated to which the State of Nevada may be entitled and to purchase from the Colorado river commission all or any part of the w ater of the Colorado river which is under the jurisdiction of said commission and which has not heretofore been allocated to or appropriated by other users., (As amended,, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 20. T hat the power of eminent domain herein granted may be exercised in the manner provided by Nevada Compiled Laws 1929, sections 9153 to 9176, inclusive, as amended or supplemented, or any law hereafter enacted for th at purpose. Such power of eminent domain is hereby specifically made to include the right to condemn for the purposes of the district any existing w ater system and the franchise thereof, whether or not such existing w ater system may lie, in whole or in part, within the boundaries of any municipal corporation; provided, th at the power of eminent domain herein specified shall not include the right to condemn any existing water system or the franchise thereof which is owned, operated, or controlled by any incorporated city within said district. W here condemnation proceedings for the condemnation of an existing w ater system are brought, the court, jury, commissioners, or referee hearing testim ony on damages under the provisions of section 9163, Nevada Compiled Laws 1929, shall take into 10