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the Water Company's franchise. Conceivably the assignment of the franchise could be construed as "consent" by the District to the exercise of powers over it by the City of Las Vegas. 5. Section 8 of the contract contains the usual provision requiring apportionment of taxes as between buyer and seller; in principle, the District should have no objection to such an apportionment. However, an examination should be made of the tax records of the City and County to ascertain whether the taxes on the operating water facilities can be segregated from the taxes on the railway operating facilities. Unless such a segregation is made on the tax rolls, it would appear that the contract should have some provisions providing for such a segregation. The tax roll should also be examined to ascertain whether the taxes on real property can be segregated as between the lands to be acquired by the District and the lands to be retained by Union Pacific. 6. Union Pacific has agreed to provide in its deed of the water bearing lands that no wells will be drilled on other lands retained by Union Pacific for a period of fifty (50) years. Union Pacific's draft of this contract provides for such provision to be in the form of a "covenant." It should be ascertained under Nevada law whether it would be more desirafele to have said provision incorporated as a "condition" or as a "covenant" in the deed. 12.