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V LOS ANGELES - Jan. 11, 1949 File: 90-8 Mr. Galvin M. Gory: In connection with the Las Vegas Valley Water District, as 1 told you over the telephone, I have been rather questioning the authority of the Board of Directors to authorise th© issuance of bonds without a vote of the people. I have checked over a few district acts in this state and most of them require that the Issuance of bonds be submitted to a vote of the people in the territory, such a provision being specifically written in the aot created in th© district. " I recently secured and enclose herewith galley proofs of a case decided by the Oregon Supreme Oourt which you may desire to look over and possibly submit to the Attorney General or to Mr. Jones forthelr consideration. The point that worries me Is with respect to the sale of any bonds. As you know, these bond houses who buy bonds of this character, always require the opinion of some firm of attorneys who specialize in the legality of bond issues and II would be very unfortunate If the preseht legislature adjourned in Nevada without making any necessary changes In the law and then have th© district find that it could not legally sell its bonds. Although the Oregon oase is not on all fours with our ease, there is a lot of good language in it which is extremely illuminating. Personally, I think It Tight be well to discuss with Mr. Bible or Mr. Jones the thought of having some law firm, specializing In bond issues, review the Nevada Aot and secure a preliminary opinion fro® them as to whether they think any changes are necessary in the law to assure the validity of the bonds to be issued. This will not, of course, be an opinion as to th© validity of the bonds as issued because in writing such an ooinlon they carefully check all the proceedings of the Board of Directors or other governing body of a district to see that they have strictly complied with the law. However, it would be of value In determinlnlng whether any amendment to the present law is necessary initially while the legislature is still in session. As far as the rest of the Act is concerned, I do not * think any amendments are necessary but as X have stated, I frankly am concerned about the authority of the Board of Directors to issue bonds as now apparently permitted, by the law. Please return the galley proof as it is my only copy. E. Mt Bennett EEBtAF Enc