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E. £• LAS VEGAS LAND AND WATER COMPANY OCT 3 Los Angeles, October 3, 1941 Mr, E. E. Bennett? I am attaching hereto copy of the by-laws of the Las Vegas Land and Water Company, as amended effective November 12, 1928, Sections 2 and 3 of A rticle IV provide - "Section 2. The President sh a ll, subject to the Board of Directors and the Executive Committee, have personal supervision and control of the business of the Company, and sh a ll sign a l l such instruments of contract and conveyance as sh all have been approved by the Board of Directors, He sh a ll, either in person or by such representatives as he sh all designate, approve a l l p a y -ro lls and other accounts payable, and sh all discharge such other duties as may be imposed by the Board of D irectors," "Section 3. In the absence of the President from his o ffic e or during his d is a b ilit y , the Vice- Presidents sh a ll perform the duties of the President. They sh all have the general charge and oversight of the business of the Company under the direction of the Board of Directors, Executive Committee and the President, and subject to such rules and restriction s as they may prescribe. They sh a ll also discharge such other duties as may be Imposed by the Board of Directors. (Amended November 12, 1928)". in view of which it has been the practice of the Board of Directors in the past to authorize or r a tify the action of the President or Vice-President in executing a l l contracts, leases, e tc ., regardless of the term of the agreement and whether or not any expenditure is contemplated, with the exception of camp site leases at Las Vegas.