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Los Angeles, March 30, 19^9 569 Mr, F* C. Paulsen: (co- Mr, f ,H. R u ls ls s r _ Mr. fig, Reinhardt Mr, e . E, Bennett / Mr* A, C fM tttP R eferring to your in q u iry o f March 15 regarding tho sta tu * o f tho I*ft* Togas V a lle y Water D is t r ic t . Th# M strict which. w a form ally organised Norta~ bar k by th# d ire cto r* oloctod Ootobsr 19, has boon unable to proceed w ith plan* fo r any proposed works fo r th* reason I t wa# dependent fo r funds on the sa le of re tenue bonds which i t has ascertained were not marketable. This r e s t r ic ­tio n i s sought to be overcome by an enactment of th* recent L e gisla tu re which w ill permit the issuance o f general o b lig a ­tio n bonds o f the d is t r ic t , subject to approval by the re a l proparty owning e lso to rs re sid in g in th* D ie trio t, and which fu rth er provides that the tax monies required to cover tho annual payment of p rin c ip a l and in te ract of tho D is tr ic t bonds s h a ll bo alioeatod fo r that purpose re gardle ss o f tho requirements o f any other function of the County* Inaemuoh ..^ X a s the County and tho several agencies thereof have in e rt in g d if f ic u lt y o f operating w ithin the statutory tax ra t S| co “• lim it o f 5© m ill* , any a llo c a tio n to tho D ie trle t w ill ne©*r>- “I l M s • a r ily c u r ta il the use of tax m o n e y by tho County, tho C ity o f Las V e ^ s and the School districts, fo r e sse n tia l expendi-tures, M A R g j 1J <"». Chari*A .