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#11 Mr, Thomas A. Campbell 1-18-57 and the Public Service Commission would be almost identical. Both would have the duty and responsibility of seeing that reasonably adequate water service is provided, that the water rates are fair and reasonable, and that principal and Interest are paid upon the bonds. The rights and obligations of prop­erty owners and water consumers with respect to service and water rates would remain the same, except that two bodies would then make all determinations, the final determination being transferred from the Board of Directors to the Commission. At the present time, complete control over the opera­tion and rates of the district is placed in the hands of the Board of Directors. The Board of Directors is an elective body consisting of seven men, each elected for a four-year term from one of the seven divisions into which the district is divided. Each director must be a property owner and elector both of the district and of the division from which he is elected. Adminis­tration of the district is placed in the hands of local persons having an intimate knowledge of local water needs, not only of the district as a whole but of their particular divisions. Being a local board, the members can, with an absolute minimum of delay, meet and make determinations with respect to all policies of operation and rates. There is a high degree of accountability and control by property owners and voters of the district, each director being required to stand for election every four years. If the affairs of the district are placed under the jurisdiction of the Public Service Commission, no final deter­mination of policy with respect to the operation or rates of the district can be made unless and until approved by the Commission. None of the members of the Commission are required to be resi­dents or property owners of the district and therefore they cannot be presumed to have an intimate knowledge of local water problems. Additional delay on all determinations of matters of policy will necessarily follow. The Public Service Commission, being an appointive board, will not be directly accountable to the prop­erty owners or voters of the district. Turning next to the effect of the proposed legislation on future financing: The proposed legislation may have serious repercussions not only upon future financing by the Las Vegas Valley Water District but by all other public agencies in Nevada, particularly those in the Las Vegas area. Marketability of revenue bonds of the Water District will be seriously hindered because two agencies, rather than a single agency, must act on all district