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SECTION I: G E N E RA L T ax ra tes fo r re ce n t y ea rs fo llo w the sam e pattern, with the $ 5 .0 0 m axim u m being a pp licable to the citie s w hich re q u ire the g r e a t­est tax ra te . In setting the tax ra te s , the p ro ce d u re is to w ork out the p ro p o rtio n o f the va riou s budgets re q u ire d to fit in the $ 5 .0 0 m axim um a re a s , w orking back w ard to the other r a te s . The L e g isla tu re has a d op ­ted C hapter 233, Statutes of N evada, 1947, p rovid in g that taxes le v ie d b y a p o litic a l su bd ivision fo r the paym ent of bonded indebtedness shall have a p r io r ity ov er taxes le v ie d fo r all other p u rp o s e s . In the sam e year the D is tr ic t A ct was am ended to p rov id e that the D is tr ic t shall e re g a rd e d as a p o litica l su bd ivision fo r the p u rp oses of said Chapter 233 and that the p ro v is io n s of said chapter shall be ap p licable to said D is ­tr ic t If the am ounts to be r a is e d fr o m taxes b a sed on the cu rren t a s s e s s e d valuations are in su fficien t to m eet the needs of the va riou s taxing su b d iv ision s, then the p u b lic o ffic ia ls can co n sid e r an in c re a s e fr o m the h is to r ic a lly low b a s is of a sse ssm e n t w hich w ill su bstan tially in c re a s e a s s e s s e d valu ation s. The a s s e s s o r 's in c r e a s e s on the 1954 r o lls w ill p e rm it a p p ro x i­m a tely 50% m o re in ta xes. The 1953 tax le v y req u irin g a $ 5 .0 0 tax rate w ould re q u ire a tax rate of on ly $3. 33 on the anticipated 1954 v a lu a tion s. 1 .0 8 . Tax c o lle c tio n s . Any taxes of the L as V egas V a lle y W ater D is tr ic t w ill be a s s e s s e d and c o lle c te d b y C la rk County o ffic ia ls at the sam e tim e and in the sam e m anner as State, County, S ch ool, C ity an other D is tr ic t ta xes. T axes fo r any tax year b e co m e payable m N o v e m ­b e r , when the tax b ills are m ade out b y the T ax R e c e iv e r , and are due in fou r in stallm en ts - - the fir s t in stallm en t delinquent on the fir s t M on ­day in D ecem b er and the secon d , third and fou rth in stallm en ts d e lin ­quent on the fir s t M ondays of M arch , June and August of the follow in g y e a r. (T h u s, the 1953 taxes are p a rtly paid in 1953 and p a rtly paid in 1954, and tax r e ce ip ts fo r 1953 are la r g e ly expended during the 1954 calendar y e a r .) T axes rem ain in g delinquent as of the fou rth in stallm en delinquent date (the fir s t M onday in August) are tr a n s fe r r e d to the County, and if not re d e e m e d within the next two y e a rs , the p ro p e r ty is d eeded to the C ounty. 10% annual in te re st is ch a rged after the delinquent date. (A ch a n g e-ov er to a fis c a l year b a s is w ill take p la ce in 1956. The 1955 a sse ss m e n t w ill be m ade as usual, and when the delinquent dates of the fir s t two in stallm en ts - - D e ce m b e r, 1955, and M arch , 1956, - - a re p a sse d , the rem ain in g two in stallm en ts w ill be ca n ce lle d . In July, 1956, the 1956-57 tax year w ill co m m e n c e .) As the D is tr ic t has n ever le v ie d a tax, the follow in g c o lle c tio n r e c o r d is an app roxim ation ; the r e c o r d s of the taxing units w hich are - 8 -