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<br />(, r- t~, '~t <br />~lJ"" <br /> <br />" <br /> <br />6 <br /> <br />MeTROPOLITAN WATER DISTRICT <br /> <br />mately 50 per cent of fair market valuation, the total value of all <br />property within the Metropolitan Water District, and therefore <br />protected from the destructive effect of drouth by water of the <br />Colorado River, is now approaching $10,000,000,000. This amount <br />includes all tax exempt property, together with publicly owned <br />property of municipalities, counties, the State, and the United States <br />upon which no taxes are levied. <br /> <br />CHRONOLOGY OF THE <br />COLORADO RIVER AQUEDUCT <br /> <br />1923 Preliminary studies of Colorado River as a source of addi- <br />tional water supply were begun by City of Los Angeles. <br /> <br />1924 Colorado River Aqueduct Association organized at Pas- <br />adena, California. <br /> <br />1925 City of Los Angeles issued $2,000,000 Colorado River <br />project bonds for preliminary surveys and investigations, <br /> <br />1927 Metropolitan Water District Act enacted by California <br />Legislature permitting noncontiguous cities and districts to <br />cooperate in acqui~ition of domestic water supplies. <br /> <br />1928 The Metropolitan Water District of Southern California <br />organized with eleven member cities, <br /> <br />1930 District took over all engineering and other work and rec- <br />ords from the Bureau of Water Works and Supply of the <br />City of Los Angeles and paid in full all preliminary expenses <br />of the cit,\', <br /> <br />District contracted with the United States for storage of <br />watel' and for 36 per cent of the power generated at Hoover <br />Dam. <br /> <br />1931 Four cities joined the District and two withdrew. <br /> <br />A construction bond issue of $220,000,000 was approved <br />by District electors on September 29. <br /> <br />1932 December, First block of construction bonds sold to Re- <br />construction Finance Corporation, Construction work was <br />started in the last week of the year. <br /> <br />1 <br /> <br />J <br />