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July 20, 1953 * t*&# Vegas 1W 22 63 --1-12 5 Mr. Thomas A. Campbell £*.3 Chairman, Board of Directors Las Vegas Valley Water District 135 South 4th Street Las Vegas, Nevada Dear Mr. Campbells Please refer to Mr, Montgomery’s letter to you dated July 1 5 , 1953, copy of which you handed me and which refers to the estimates of expenditures being furnished you currently for Water Company projects in Las Vegas which require the Districts approval under provisions of Agreement OLD 11342 dated June 1, 1953* Please be advised that the amounts included under the heading “Total Chargeable to Investment Account" for® 30-1, represent the estimated cost to construct the project under consideration and are used as a basis for securing authority from Company officials for construction of the project. (1 ) In the event the Water Company constructs the install­ation for the Subdivider and the Subdivider has complied with all of the terras of his agreement with the Water Company, the amount which is capitalized and charged to "Investment Account" is the actual cost of the installation, plus the cost of fire hydrant connections* (2) In the event the Subdivider constructs the installation under .Pule 9 at his own expense and has compiled with all of the terms of hia agreement with the Water Company, the amount which in capitalized and charged to RInvestment Account" is the actual cost to the water Company under the terras of the Refund provision of its agreement with Subdivider plus the cost of fire hydrant connections. (3 ) In the event the Water Company constructs the install­ation at its own expense, the amount which is capitalized and charged to "Investment Account" is the actual cost of the installation*