upr000102 312

expenses in connection therewith, and expenses incurred in connection with the authorization and issuance of the bonds, including but without limitation, engineering and legal fees and expenses, fiscal agents’ fees and expenses, and the payment 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 time the bonds are issued. Pending the preparation or execution of definitive bonds, interim receipts or certificates or temporary bonds may be delivered to the purchaser of said bonds. All bonds issued under the provisions of this act shall constitute negotiable instruments within the meaning of the negotiable instruments law as that 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 with this section, to issue bonds payable solelyjrom, 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, that no bond of the district, whether a general obligation bond or a bond payable solely from revenues, shall have any priority with respect to payment 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 payment of interest on and principal of the bonds or to the purchase or retirement of the bonds, prior to maturity 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 without 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 management 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 matters as may be deemed necessary by the governing body to assure the marketability of such bonds; provided, such covenants are not inconsistent with the provisions of this act. (As amended, Chap. 130, Nevada Statutes, 1949, and Chap. 307, Nevada Statutes, 1951.) Section 16i. The board may submit 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 retirement 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 submitted 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 that 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. That 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 others: (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 with 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 trust for such bond holder. (4) By suit, action, or proceeding in court exercising equitable jurisdiction to obtain the appointment 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 maintain the same, and collect and receive all revenues thereafter arising there­from in the same manner as such district itself might 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 terms of repayment 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,1 agency, bureau or official, other than the governing body of the district shall have any authority or juns3iction'bver 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 water 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 water district, for the creation of which provision is herein made, is created-for the purpose of supplying its inhabitants with water as a public and municipal function, a U 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 cliffricFaffid'tlieTncome th"e?efrom shall also be exempt from taxatioii.inAhi&^s-tate. Said district and the Colorado river commission are hereby authorized to enter into such leases and agreements with each other for short or long terms 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 without limitation, grant to said district the right to take from the Colorado river all water 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 water 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. That 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 that purpose. Such power of eminent domain is hereby specifically made to include the right to condemn for the purposes of the district any existing water system and the franchise thereof, whether or not such existing water system may lie, in whole or in part, within the boundaries of any municipal corporation; provided, that 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. Where condemnation proceedings for the condemnation of an existing water system are brought, the court, jury, commissioners, or referee hearing testimony on damages under the provisions of section 9163, Nevada Compiled Laws 1929, shall take into 10