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a, #3 'Willia» Coulthard protection of the bondholders, such ae establishment of adequate rats® ami charges, reserve funds to insure payment of principal and interest, limitations on additional debt, maintenance and operation o£" the water facilities, ©to, A possible argument may be made that the District is not permitted by its Act to issue a bond having the characteristic® of both & general obligation bond and a revenue bond, and even if such a combination bond could toe issued that some of the covenants provided la the resolution of issuance were net authorized under'the District Act. The purpose of the legislature in validating municipal bonds is easily understood. Jftny bonds of this type are sold to individual investor* who in purchahiag them roly upon the pub­lic officers having complied with all statutory requirements' in the issuance ot' such bonds. The- investor should not toe required to employ an attorney to examine all of the proceedings under which the bonds were issued, having such bonds declared Invalid because of some irregularity in the proceedings would soon destroy their salability and would result in public agencies not being able to secure funds necessary for public improvements. The Act creating the has Vegas Valley v?ater District and authorising it to issue bonds 1*4 s never been passed upon by the Supreme Court o f Bevads. It is difficult, li not impossible, to predict whether failure or mmcoitiplismc® with some statutory provision or technicality of the District Act would be held fatal toy the Supresse Court. to insure, the marketability of the bonds and to obtain the best available interest rate, a validating act should be passed to remove any possible doubt concerning the manner and method pursued by the District in authorising and issuing its bonds. Such an act may save the water consumers and property owners within the h m Vegas Valley Water District considerable sums in interest, charges and protect against delays in construc­tion by precluding frivolous lawsuits based upon legal techni­calities. Past sessions of t h Hsvsda Legislature b&v© adopted a number of validating acts. In 19*7* an Act (Chapter 6, Statutes of Nevada, 19 &?) wag adopted validsting the authorisation of $ 9 5 0 ,0 0 0 bonds of the Las Vegas Union School District. At^the same session, a General Act {chapter 233* Statutes of Nevada, 19b?) was approved, validating all bonds theretofore authorised by any "ally# town* county, school district or other political subdivision.* The School Code adopted-by the Legislature at the same session (Chapter 63* Section 2 3 5 » Hevsda Statutes, 19*5-7)