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2 o - Z s Los Angeles# March 30, %$k$. 'mm Mr. F, 0. Paulsen: {ee- Mr. W.H. Hulnisei Mr. wm. Reinhart! Mr, S. IB.Bennett Mr, A. C.Ritter ) Referring to your Inquiry of March 15 regarding the etatue of the Las Vegas Talley Water District. The District which was formally organised Novem­ber k by the directors elected October 19# has been unable to proceed with plane for any propoeed works for the reason it was dependent for funds on the sale of revenue bonds which it has ascertained were not marketable. . This restric­tion is sought to be overcome by an enactment of the recent Legislature which will permit the issuance of general obliga­tion bonds of the district, subject to approval by the real proparty owning electors residing in the District, and which further provides that the tax monies required to cover the annual payment of principal and interest of the District bonds shall be allocated for that purpose regardless of the requirements of m y othtf^frnetlon of the County, Inasmuch as the County and the mmBKk. agenoles thereof have increas­ing difficulty of o p e J M V w l t h i n the statutory tax rata limit of 5® mills, ai^^Bpoatlon to the District d l l neces­sarily curtail the uMilMr tax money by the County, the City of Las Vegas and tOT a j K o l districts, for essential expendl-tures*