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Transcription
F O R M 2 1 9 1 - B 1-53-500M UNION PACIFIC RAILROAD COMPANY Tirr. M TELEGRAM Los Angeles "5* 1953 ass \m. :m omaha BIS LOS ABQSLES OCT 123 1953 0B1& ASS OMAHA CT MBS MBS OMAHA, 19 LOS A30ELES proposes to insert in its toads for purpose of asking then attractive to ?buyers. BLstrict lias not yet worked out text of covenants, tot in general they will contain provisions such as agreement to establish rates sufficient to produce revenues sufficient to service bonds, provide for segregation and which District may inject into suit such as lawfulness of selling water on metered basis and possibly questions relating to debt limitation provisions of Hevada Statutes* In view of fact that precise questions to be submitted to Supreme Court have not yet been finally determined by District, BBS is not presently In position to give legal opinion with respect to these questions, tot he agrees it is probably desirable for District to hare court decisions validating authority of District to make customary revenue bond covenants. B-155 (Signed) WM. REINHARDT m 10*00AM
