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j^\CERS AND. -DIRECTORS »MAS A. CAMPBELL . PRESIDENT SPENCER L. BUTTERFIELD VICE PRESIDENT WILLIAM COULTHARD SECY-T.REAS. HARRY E. MILLER E. OTTO UNDERHILL JAMES CASHMAN JOHN BUNCH LAS VEGAS VALLEY. WAtER DISTRICT SOD SOUTH 5TH STREET LAS VEGAS, NEVADA TIME TABLE O. BOX I44B O f Negotiations with Union Pacific Railroad Officials for Purchase of Las V gas Land & Water Company Production and Distribution Facilities by Los Vegas Valley Water District August 20, 1952: At a meeting heid In the Union Pacific Railroad Company's Los Angeles offices. Company officials recommended to members of the District and Mayor C. D. Baker that a tentative $2,500,000 purchase proposal be formally submitted |n writing, stating that such an offer would be immediately transmitted to and promptly acted upon by top executives in Omaha and New York. August 24, 1952: Water District members met with Las Vegas City and Clark County Commissioners and submitted for their endorsement the proposed $2,500,000 purchase offer. Although somewhat reluctant to sanction the $2,500,000 figure, both bodies adopted resolutions approvlmg the District's offer. City Attorney Howard Cannon pointed out that the alternative procedure of Instituting condemnation proceedings to seize the utilities through the Courts might drag on for several years, and thus prove more costly in the end. August 25, 1952: Proposal to purchase the Las Vegas band & Water Company’s system at a base price of $2,500,000 was executed by all members of the District and transmitted to the Los Angeles office of the Union Pacific Railroad Company. (This proposal consisted of two typewritten pages). August 27, 1952: William Reinhardt, Vice President of the Railroad Company, acknowledged receipt of the District's August 25 offer of $2,500,000 stating, "Your offer Is being studied, and you will be advised further in the near future. At thfs time I believe it may be necessary to clarify some of the conditions contained in your letter." October 15, 1952: After being informed by E. E. Bennett, General Solicitor, executives of the Railroad Company In Omaha insisted upon having the purchase proposal submitted In a somewhat different form, the District executed a substitute proposal in the form requested by the Railroad Company. This consisted of a three—page redraft of the original proposal together with an eight-page supplementary agreement.