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It was changed in 1909 to ' Merbein ' after the Aboriginal word for the same cliffs . It entailed the construction of Rocky Valley Reservoir , just south of Falls Creek , which holds 28 000 megalitres of water from the Bogong high plains . Old Dartmouth , which developed in conjunction with goldmining on the Dart River in the 1870s , lies beneath the dam . As such it is a base for those wishing to explore the scenic summertime delights of the Bogong high plains and the wintertime skiing resort of Falls Creek which is another 30 km south along Bogong High Plains Rd . It was originally known as Schnapper Point and it became the legal centre for the peninsula in the early 1860s when the police station , courthouse and post office were built . It was moved to its current site when the railway arrived in the late 1870s . Nearby , in Cureton Ave , is a red-gum slab homestead which is a replica of the first home in the district , erected on this site by the Chaffey brothers in the late 1840s . After rapid growth in the next year or two , the rate of growth is projected to slow substantially . At the time the area was known as ' Upper Margaret ' . There may be a narrow gap in the law that currently permits this in certain circumstances , and that gap should be filled .