The La Jara chronicle. (La Jara, Conejos County, Colo.) 1896-19??, 1911-10-27
How THE MONEY
MAY BE RAISED
Not Necessary to Borrow at
High Rate of Interest.

er 10 thoroughly reclaim a large
area of the San Luis Valley is
generally admitted. The method
by which these improvements are
to be secured is OF secondary i'm
portance, and is largely "A matter
of business judgment coupled
with the ability of the land own
ers to pay for them.
Ordinarily, in business transac-
tons, it is best to pay cash for
what you want, but where the out
lay is so great that ones avail
able cash will not equal the cost
of the thing or Improvement need
ed, then men must of necessity
resort to credit.
The total cost for ample reser-
voir water and drainage is so
great that comparatively few OF
the land holders of the valley are
able to meet the expense in cash,
hence the next question is, where
can they get the money to defray
the COST
Some system or means of credit
must be resorted to and generally
some sort OF security must be
furnished. This can be done by
satisfying Il bank AMI borrowing
there on short time at a high rate
of interest, or pledging the land
by mortgage to secure the money,
or mortgage it in exchange for
the work. These plans would be
all very well and within the ordi-
nary practice of the average indi-
vidual in the conduct of his daily
business. But in the matter of
reservoir construction and the Sc
curing of storage water, several
elements enter into the facts OF
the case which render individual
effort inexpedient- almost impos-
sible.
AS an almost universal PROPOSE
ton, we can say the larger the
reservoir within prescribed limits
the less the cost of water per
acre foot. Hence, the greater
number who enter into the con
struction of a reservoir the less
will be the relative cost to each
individual and the less the relative
cost to each acre of land served.
/,
or attendants for a large reser-
voir is no greater than for a
small one, thus the cost for main
tenance is much less on one large
reservoir than ON a number Of
small ones. Again larger reser-
voir sites are almost always To-
Gated further down stream nearer
where the water is to be used, and
where they have Il CRATER catch
ment basin and, by their location,
catch greater per cent of flood
or other water which would other
wise go to waste. AS a matter of
economy and matter of utility
the larger reservoirs are the best
These facts being self-evident.
then the question arises how can
a large community, involving the
ownership of thousands and tens
of thousands of acres associate
themselves together in such man
ner as to distribute the cost eqnal
ly among all and at the same tin a
furnish the credit, and obtain
the money to institute and finish
works costing hundreds of thous-
ands of dollarsY
This question has been an
swered by the law-making power
of our great state. In their wis
dom they have provided law by
which a municipal corporation can
be formed embracing lands within
certain agreed boundaries which
shall be held as a body corporate
and polite with full power to is
sue the bonds of such corporation
or district for the purpose of rails
ing money to provide water for
irrigation. All acts involving the
expenditure of any considerable
amount of money or the bonding of
such districts must always be au-
thorized by a majority vote of
the qualified electors of such
districts.
This law has, since its passage.
resulted in the rnclam atinn of