ISBN: 1130044211

[EAN: 9781130044218], Neubuch, NATIONAL REPORTER SYSTEM,SUBJECTS,NEW AND USED TEXTBOOKS, This item is printed on demand. This historic book may have numerous typos and missing text. Purch… More...

[EAN: 9781130044218], Neubuch, NATIONAL REPORTER SYSTEM,SUBJECTS,NEW AND USED TEXTBOOKS, This item is printed on demand. This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 Excerpt: . . . paympnt of salaries. Instead of acquiring by purchase or condemnation an Independent source of water supply by the construction of reservoirs or the diversion of water from streams, the district purchased from the Hear Valley Companv 12, 500 of what is designated as Class B Acre Water-Right Certificates, underwhlch the Bear Valley Company agreed to supply a specified quantity of water from Its reservoir for each certificate. For these water-right certificates the district paid a certain sum of money, and each of these certificates contains a provision that there should be paid thereon 1. 39 on April 1st and October 1st of each year, and the directors have set apart said tolls ami charges to the water fund to meet these semiannual payments. It Is obvious that the original sura paid for these certificates could only be taken from the construction fund under the provisions of section 37, , above cited, , which provides that the cost and expense of purchasing and acquiring property and constructing the works and Improvements herein provided for shall be wholly paid out of the construction fund; and this fund is supplied by the sale of bonds, St 1887, p. 36, 16. It is also clear that these semiannual payments to he made upon the certificates is part of the contract of purchase of the water supply of the district and should b paid out of the coamictlon fund. It Is not uecesary to hold, and we do not hoM, that if there should be a surplus arising from the collection of tolls and charges, after the payment of salaries and other expenses expressly provided for, It could not be applied to these semiannual payments or other liability of the district; but we do hold that it must be applied to the payment of salaries and the expen. . .<