54 BULLETIN 1177, U. S. DEPARTMENT OF AGRICULTURE. 
are operating successfully at the present time. These two districts 
disposed of bonds for construction in already settled communities, 
whereas those districts formed to finance development in pioneer 
communities have had great difficulties. Activity during the past 
two years has been of a conservative type. 
SUMMARY AND CONCLUSIONS. 
The irrigation district is a public, cooperative organization for 
providing water for irrigation and taxing the land to pay for it. 
The Wright Act of California, passed in 1887, has provided the 
basis for irrigation district legislation in the 16 other Western States. 
To December 31. 1921, 598 irrigation districts had been organized 
in the 17 Western States, of which 2-44 districts were then in opera- 
tion, 37 under construction, 159 in preliminary stages, and 158 inac- 
tive. The area covered by the 598 districts was 15,892,995 acres. 
In 1921 approximately 2,857,400 acres were irrigated by districts. 
Fifty-eight per cent of all districts were formed for supplemental 
construction or the acquisition of existing systems and 42 per cent 
for entirely new development. 
Qualifications of voters at district elections in most States include 
property qualifications, particularly in creating indebtedness. 
The irrigation district is managed by an elected board of directors, 
composed usually of landowners and electors. Finances are handled 
in some States by district officials, in others by county officers, and 
in still others by both district and county officers. 
District assessments for cost of construction or acquisition of works 
are based in some States upon the value of the land, are uniform 
upon all lands in others, are apportioned according to the benefits 
in still others, and in one State according to water allotment. The 
ad valorem and benefit methods afford the greater flexibility in levy- 
ing assessments. Assessments for cost of operation are sometimes on 
a different basis and may usually be supplemented or superseded by 
tolls for water. 
Bond issues must usually be authorized by vote of the electors. 
Interest rates, denominations, and maturities vary according to stat- 
utes. Experience has led certain States to make selling price limita- 
tions and interest requirements less stringent, leaving the security to 
be safeguarded by State supervision. Refunding bonds may be 
issued in the majority of States. 
The bond market has at times been extensive and at other times 
practically nonexistent. It is confined at present mainly to the 
irrigation States, though a few issues have been sold recently in 
Chicago, St. Louis, and New York. Efforts are being made to rees- 
tablish an eastern market. 
Irrigation district bonds have been of two classes — nonspeculative 
and speculative. Defaults have been confined largely to the specu- 
lative group. Seventy-one per cent of all bonds sold by irrigation 
districts to December 31, 1921, had been paid when due, both as to 
principal and interest. During the period 1915-1921 less than 1 per 
cent of bonds sold were unpaid, due largely to more effective State 
control, State certification of bonds, greater discrimination by bond 
investors, and more general conservatism in district promotion. To 
December 31, 1921, $118,436,443 of bonds had been sold, of which 
$104,921,223 were outstanding. 
