In the early part of this Century, Los Angles was a rapidly growing agricultural
community, but it desperately needed added water supplies. So, along came
William Mulholland ( 1855 - 1935 ), an engineer, who emigrated from Belfast,
Ireland and arrived in Los Angeles in 1877 with only ten dollars, working his
way up from ditch overseer to chief engineer of municipal water system.
The city was faced with inadequate water supplies after the drought of
1892-1904 and in 1905 he discovered a way to tap into the Owens River, 238
miles ( 148 kilometers ) away; building an aqueduct across the Mojave Desert
that brought enough water for a population of 2 million people - this was
considered one of most difficult hydraulic feats ever accomplished.

Needless to say the farmers of Owens Valley were not happy with the fact
that Mulholland stole ( really, bought ) their water, and so, armed with
shotguns sat atop the Los Angeles water gates and blew up the city's
aqueduct an impressive 17 times to prevent drainage of water from their lands.
State militia drove off the farmers, but the conflict continues
to this very day as Owens Valley dries up.

Presented here are the actual depression era bond coupons that were to be
redeemed for those willing to invest in the Municipality of Los Angles for
street & water improvement. The coupons feature a representation of a seated 'Eureka' ( California State symbol ) with bear & grain at her feet. Helmeted
with spear & shield. In the background are the ships on the coast and the
setting sun in the Pacific Ocean. The reverse notes the number, date, amount,
and the name of the actual street for improvement, all with light hole cancels.