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(bee - Mr. A. E. Stoddard Mr. Wm. Reinhardt Mr. W. R. Rouse ’ Mr. R. M. Sutton) m % April 20, 1954 Mr. Thomas A. Campbell, President Las Vegas Valley Water District 135 South Fourth Street Las Vegas, Kevada Dear Mr. Campbell* In order to promptly complete the transfer of the Las Ve­gas water system to the District after all parties are prepared to open an escrow, it will be necessary for the sellers and the buyer to be able to agree on the amount of money to be .paid by the District when the water system Is transferred to in' on the ’’sale date”. Since it will be impossible to have the account­ing completed on the sale date for all expenditures made in the period immediately prior thereto, it will undoubtedly be neces­sary for the Water Company and the District to agree upon an estimated price to be paid on the sale date, subject to adjust­ment when the final accounting for prior expenditures and ap­plicable credits has been completed. However to make possible the use of an estimated price it will also be necessary for the parties to agree upon a date prior to which no adjustments in the purchase price will be made after the transfer. This will allow all the parties to know with reasonable certainty the a-mount of the ultimate purchase price at the time the transfer and payment of the estimated price are made. I am enclosing two copies of a statement and supporting documents prepared by our Auditor shotring what the purchase price would have been as of January 31, 1954, confuted as pro­vided in the contract of June 1, 1953. You will notice that the price so computed amounts to $2,297,116.14. We will en­deavor to furnish you revisions of this figure as accounting is completed for expenditures made in months subsequent to January 31, 1954. I am suggesting to you that it is very im­portant that the District take immediate steps to have this statement audited to the extent that they desire so all par- APR 21 1954 L* C. C.