upr000258 305

A’ expenses in connection therewith, and expenses incurred in connection with the authorization and issuance o f the bonds, including but w ithout lim itation, engineering and legal fees and expenses, fiscal agents’ fees and expenses, and the paym ent o f interest on the bonds during the period o f construction o f any im provem ents for w hich the bonds w ere voted and for six months thereafter. T h e proceeds from the sale o f the first bonds issued by the district m ay also be used to repay any am ounts advanced to the district by Clark County, w hich have not been repaid at the tim e the bonds are issued. Pending the preparation or execution o f definitive bonds, interim receipts or certificates or tem porary bonds m ay be delivered to the purchaser o f said bonds. A ll bonds issued under the provisions of this act shall constitute negotiable instruments within the m eaning o f the negotiable instruments law as that law is now or m ay hereafter be in force in the State of Nevada. (A s amended, Chap. 130, N evada Statutes, 1949, and Chap. 307, N evada Statutes, 1951.) Section 16f. In addition to the p ow er to issue general obligation bonds o f the district, as hereinbefore set forth, the district shall also have the pow er, under proceedings taken in accordance w ith this section, to issue bonds payable solely from , and secured by a pledge of, revenues derived from the operation of the w orks or properties constructed, acquired, extended or im proved with the proceeds o f such bonds, or any portion o f such reven ues; provided, however, that no bond of the district, w hether a general obligation bond or a bond payable solely from revenues, shall have any priority with respect to paym ent of principal and interest out of revenues o f the district over any other bond o f the district theretofore or thereafter issued. (A s amended, Chap. 130, N evada Statutes, 1949, and Chap. 307, N evada Statutes, 1951.) Section 16g. T h e board by resolution shall provide for the creation of a sinking fund into w hich shall be paid sums fully sufficient to pay principal of and interest on such bonds, and to create such reserve for contingencies as m ay be provided in such resolution. M oneys in the sinking fund shall be applied to the paym ent of interest on and principal o f the bonds or to the purchase or retirem ent of the bonds prior to m aturity in such manner as m ay be provided in said resolution. Such sinking fund and any reserve or contingency fund, or both, for w hich provision m ay be made b y resolution m ay be kept on deposit in any bank or banks within or w ithout the state w hich m ay be designated in Such resolution. (A s amended, Chap. 130, N evada Statutes, 1949, and Chap. 307, N evada Statutes, 1951.) Section 16h. T h e board m ay by resolution make such covenants w ith the future holder or holders o f the bonds as to the m anagem ent and operation o f the w orks or properties, the im position and collection o f rates and charges for the products or services furnished thereby, the disposition o f such rates and revenues, the issuance o f future bonds and the creation of future liens and encum brances against, said w orks or properties and the revenues thereof, the carrying o f insurance on the properties constituting such w orks, the disposition of the proceeds o f any such insurance, and oth er pertinent matters as m ay be deem ed necessary by the governing body to assure the m arketability o f such b on d s; provided, such covenants ,are not inconsistent w ith the provisions o f this >act. . . •(As amended, Chap. 130, N evada Statutes, 1949, and Chap. 307, N evada Statutes, 1951.) Section 16i. T h e board m ay subm it to the electors o f the district a proposal for the issuance of bonds of the district for the purpose o f refunding any or all of the outstanding bonds of the district. Such refunding bonds m ay either be sold and the proceeds applied to the retirem ent o f the outstanding bonds, or m ay be delivered in exchange for the outstanding bonds. T h e refunding bonds shall be authorized in all respects, as original bonds are herein required to be authorized, and the governing b od y in adopting by resolution the proposal to be subm itted at any bond election for the refunding bonds shall provide for the security o f such bonds and the source from w hich such bonds are to be paid and for the rights o f the holders thereof in all respects as herein authorized to be provided for other bonds issued under authority of this act. T h e governing body m ay also provide that the refunding bonds shall have the same priority o f lien on the revenues pledged for their paym ent as was enjoyed by the bonds refunded. (A s amended, Chap. 130, N evada Statutes, 1949, and Chap. 307, N evada Statutes, 1951.) Section 17. T hat in addition to all other rem edies,.any holder of,a bond of the district incor­porated under this act, including a trustee for bond holders, shall have the right, subject to any contractual lim itations binding upon such bond holders or trustee, and subject to the prior or superior rights o f others ; (1) B y mandamus or other suit, action or proceedings, at law or in equity, to enforce his rights against such district and the board o f such district, including the right to require such district and such board to fix and collect rates and charges adequate to carry out any agreement 9 as to, or pledge of, the revenues produced b y such rates or charges, and to require such district and such board to carry out any other covenants and agreem ents w ith such bond holder and to perform its and their duties under this act. (2) B y action or suit in equity to enjoin any acts or things which may b e unlawful or a violation of the rights of such bond holder. (3) B y action or suit in equity to require such authority to act as if it w ere the trustees of an express trust for such bond holder. (4) B y suit, action, or proceeding in court exercising equitable jurisdiction to obtain the appointm ent of a receiver of the enterprise in w hich the district is engaged or any part or parts thereof, w ho m ay enter and take possession of such utility or any part or parts thereof, including all property, land, property rights, easements, and other adjuncts o f the utility, and such receiver m ay operate and maintain the same, and collect and receive all revenues thereafter arising there­from in the same manner as such district itself m ight do, and shall deposit all such m oneys in a separate account or accounts and apply the same in accordance with the obligations o f such district as the court shall direct. Section 18. T h e board of county com m issioners of Clark County shall advance such funds to such district as m ay be necessary to pay the prelim inary organization, administration, and engineering costs thereof, including bond elections as provided in section 16 of this act, on such terms of repaym ent as m ay be agreed upon, and said county is hereby authorized to declare an em ergency and secure necessary funds in the manner now provided by law authorizing short­term loans. (A s amended, Chap. 130, N evada Statutes,, 1951.) Section 19. T his act shall in itself constitute com plete authority for the doing of the things herein authorized to be done. T h e provisions o f no other law, either general or local, except as provided in this act, shall apply to doing of the things herein authorized to be done, and no board, agency, bureau or official, other than the governing b od y o f the district shall have any authority or jurisdiction over the doing of any of the acts herein authorized to be done nor shall any proceed­ings, nor publication, notice of election be required for the doing of such acts except as herein specifi­cally required. There is hereby granted to said district the right, to ow n and operate its water distribution system within the boundaries of any municipal corporation lying w h olly or partly within the boundaries of the district, and no franchise tax shall be payable for such privilege, but it shall be the duty of the district to install and operate its properties and facilities within the boundaries o f such m unicipal corporation in such manner as to cause a m inimum of inconvenience, arid it shall further be the duty of the district, where such facilities are installed in the public streets and alleys o f any such m unicipal corporation, to restore the surface of such streets and alleys to as good condition as they were in prior to such installation. Since the water district, for the creation o f w hich provision is herein made, is created for the purpose of supplying its inhabitants with water as a public and municipal function, all property o f the district shall be exem pt from taxes by the State o f N evada and the political subdivision thereof, and the bonds issued by the district and the incom e therefrom shall also be exem pt from taxation in this state. Said district and the C olorado river com m ission are hereby authorized to enter into such leases and agreements with each other for short or long terms as m ay be considered m utually desirable in order to carry out the purposes of this act, and any such agreem ent or agreements m ay specifically, but w ithout limitation, grant to said district the right to take from the Colorado river 'all w ater not heretofore otherw ise appropriated to w hich the State of N evada may be entitled and to purchase from the C olorado river com m ission all or any part of the water of the C olorado river w hich is under the jurisdiction of said com m ission and which has not heretofore been allocated to or appropriated by other users. (A s amended, Chap. 130, N evada Statutes, 1949, and Chap. 307, N evada Statutes, 1951.) Section 20. That the pow er o f eminent dom ain herein granted m ay be exercised in the manner provided by N evada Com piled Law s 1929, sections 9153 to 9176, inclusive, as amended or supplemented, or any law hereafter enacted fqr that purpose. Such pow er o f eminent domain is hereby specifically made to include the right to condem n for the purposes o f the district any existing water system and the franchise thereof, whether dr not such existing water system m ay lie, in w hole or in part, within the boundaries of any tnunicipal corp ora tion ; provided, that the pow er of eminent domain herein specified shall not include the right to condem n any existing water system or the franchise thereof w hich is owned, operated, or controlled by any incorporated city within said district. W h ere condem nation proceedings for the condem nation o f an existing w ater system are brought, the court, jury, com m issioners, or referee hearing testim ony on dam ages under the provisions of section 9163, Nevada Com piled Law s 1929, shall take into 10