Show Reg Regulations la ions of I State Land n Board The state land board has has' made wade a s set t of rules to go 0 by in extending aid to irrigation district dis dis- dis- dis At At the present time there are aI applications before the board boad for the loan of 8 Inasmuch as one of the rules prohibits the investing of more than it in irrigation bonds in any one year ear it will willbe willbe be more than four years before all Hll the districts can be Here FIere are the rules 1 The board will wilt not bid on the open market for bonds 2 Requests for pu purchase of bonds londs must be accompanied by bj byn bya a n full statement of the arable areas estimated value its as assessed 38 value the water supply assets ts and liabilities of the district district district dis dis- and the purpose for which the funds will vill be used 3 At the request of the board a report signed by the state engineer will be required showing the pertinent facts relative relative relative rel rel- to the feasibility of the project and the cost thereof the safety durability and efficiency of the proposed water ri rights the tract of land to be irrigated its equality and such other facts as as' would assist the board in determining determining- the the value of the security offered 4 d. The expenses expense of the he examination examination examination exam exam- by the board board- engineer and attorney must be he paid by bythe bythe the he district 5 No bonds will he be purchased ed where the entire entire- bond issue exceeds 50 per cent of the actual actual actual ac ac- ac- ac value of the property bonded bonded bonded bond bond- ed as appraised by the land board 6 N No mon mon- than will willbe willbe be De in invested ested in bonds in any anyone anone one district and in no instance will such purchase be consummated until the total issue or such part thereof as will in the opinion opinion opinion ion of the bol board rd be to complete the project has been negotiated 7 The board will nc not t purchase purchase purchase pur pur- chase irrigation irrig bonds in excess excess excess ex ex- cess of in one year 8 The approval by the state engineer of plans specifications specifications ions estimates and Iud water Elings filings filings fil fil- ings or ar water supply must be obtained 9 The funds furnished by bythe bythe bythe the hoard board mt must he be placed in ina a bank hank designated by the board and paid out only for actual construction work on check countersigned by a member of the board hoard after inspection of the work pay roll roll- rolland and vouch vouch- ers 10 The state engineer at the request of the board shall have supervision of the construction of works and may at the disere dis- dis cre ere ion of the board hoard appoint an engineer to take char charge e of the thc said construction at the expense of the district The checks to which reference has been made will not be pa paid id u after th tha state stat engin engineer cr or nn fin assi assistant tant tantI has made an inspection of the I works and md recommended the thes s me The board reserves the I right ight to require any district to spend an amount for construction construction construction tion work in the district equal to the thc amount amo loaned by the hoard board rd 11 No bonds hands will be he purchased purchased purchased pur pur- chased unless a court of com cout- competent competent jurisdiction has passed upon the tl legality y and valid validity ty of the organization of the district district dis dis- dis and the lc legality of the tin issue I |