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flffiE. Los Angeles, March f, Ipvf 83-4 Mr, lay Marks, fax Agent Southern Pacific Company 139 N. Virginia Street Mono, JSevada i ©e - Mr* Wa. Reinhardt - Losa Mr* Calyin M. Cory H Ranch© Motel Carson City, Hevada Mr. A. M. Folger, LVL&W Co* las Vegas, Hevada ) Seyada Senate Bill Ho. }&*. Cory has called t© my attention the above MU which you should do everything possible to defeat. It Is detrimental to the Interests of the Railroad and the Water Company and cer­tainly Is detrimental to the interests of all other property owners in the las Vegas Utility District. fhe bill amends the act under which the district was created by Increasing the power of the directors of the district inJ?hfir own discretion to require the levying of taxes to sup- port the district and to issue bonds which become a charge upon all property in the district. There are many arguments which can be made in opposition to this bill, some of which I mention below: 1, The amendments proposed in this bill make a radical change in the method of financing the district wMch was oon- templated at the time the formation of the district was submit­ted to the vote of the people for approval. The original act under which the district was formed limited the power of the district to levy taxes to those which were required to get the district under way. The act provided tha t the district could Cause taxes to be levied "For the purposes of paying any obli­gation of the district during its organizational stage-- and further to assist in the operational expenses of said district until such taxes are no longer required therefor.* 2* The act originally required that the bonds were self liquidating and to be paid only from the revenues of the district* -1-