OCR Text |
Show -57- Mutual Water Company as may be assumed by this district, for a period of three years, or less, in advance of the time such interest obligations shall accrue. All such surveys, appraisals, examinations, drawings and plans shall be made under the direction of a competent engineer, and shall be certified by him. The board of trustees may divide the plans for the completed project of acquisition and construction of a unified protection, irrigation and reclamation system into various items, recommending those that are most urgent for first acquisition or construction, and the estimated amount thereof, and those that might be deferred for carrying out at subsequent times, so that the bonded indebtedness necessary for the entire plan may be imposed upon the district in such installments over a period of years as the district is built up and improved, and as a favorable market exists for the bonds. But the board of trustees may, in its discretion, provide for the issuance of the amount of bonds necessary to carry out the completed enterprise contemplated by this act, and arrange for the disposition of the bonds in installments at different times so as to accomplish the same purpose; or, if it is deemed practicable and expedient to do so, the board may provide for the issuance of all the bonds estimated to be necessary to carry out the completed project. When a determination has been made by the JSJwm01 board of the properties to be acquired and the certification commission. construction work to be performed, and the estimated amount thereof for which the board pro- |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |