Announcement of registration to vote on the September 30 bond issue, 1953

REGISTRATION ANNOUNCEMENT As a property owner in the Las Vegas Valley Water District you are entitled to vote in the September 30 bond issue election to bring much needed Lake Mead -water to Las Vegas. However, since this is a special election you MUST re-register before September 23 in order to qualify as a voter. This is true regardless of "whether you voted in the last election. All property owners in the Las Vegas Valley Water District may vote providing they re-register, and if the names of both husband and wife are on the title to the property, both parties may vote. However, both husband and wife must re-register individually. If you are a resident you re-register in the division where you reside, or if a non-resident property owner you register in the division where you own the most property. Both resident property owners and non-resident property owners may also register with the registrars-at-large at the Las Vegas Valley Water District office, 900 South Fifth, or at the County Courthouse. The enclosed Bond Issue Election Announcement lists the places of registration and explains how the money from the proposed bonds will be used to bring Lake Mead water to Las Vegas. If you have any questions please call the Las Vegas Valley Water District Office, 5920. RE-REGISTER BEFORE SEPTEMBER 23 .. AND VOTE SEPTEMBER 301 LAS VEGAS VALLEY WATER DISTRICT BOND ISSUE ELECTION ANNOUNCEMENT 1. ELECTION DATE: Directors of the Las Vegas Valley Water District, at a meeting held on Friday afternoon, August 21, 1953; adopted a Resolution setting Wednesday, September 30, 19^3, as the date for a special election to vote on the proposed bond issue to finance construction of a pipe line to transport Lake Mead -water into the District, and to acquire the production and distributing facilities of the Las Vegas Land and Water Company. 2. AMOUNT OF BOND ISSUE: $8,700,000. Of this amount, $8,354,000 is scheduled for the proposed improvements and acquisition. An additional $346,000 is needed to set up a cash reserve to cover operating costs and to meet interest payments on bonded debt during the period of construction and until the District gets into full operation. SPECIAL REGISTRATION: Pursuant to Chapter 208 of the Nevada Compiled Laws, 1949, in order to vote at the special election called for September 30 by the Las Vegas Valley Water District to approve the proposed $8,700,000 bond issue, all eligible electors must register during the period commencing Monday, August 24, and ending Wednesday, September 23, 1953 - 4. VOTER ELIGIBILITY: In order to qualify to vote in this special election, the voter Must - Be a property owner within the District. Register, or re-register, and take the oath. Anyone who is a resident of the District and a land owner is eligible to vote, provided that he registers especially for the bond election in the division-precinct where he resides. Even though an eligible property owner is now a registered voter in Clark County, it will be necessary to re-register for the bond election, and only those property 03-mers who have registered within the prescribed period? from August 24, 1953 to September 23, 1953, will be eligible to vote. Resident property owners owning land in several divisions or precincts must register in the division in which they reside. A corporation land owner is eligible to vote, provided that an authenticated resolution of the board of directors of the owning corporation authorizing a specifically named individual to vote on behalf of the corporation be presented to the Registrar at the time of registering to vote. Non-resident property owners are eligible to register and vote. They are required to personally register in the division in which the major portion of their owned land is situated. They cannot vote by absentee ballot. If the title of the property is in the name of both husband and wife, then both parties are entitled to vote providing they both re-register. However, both names must appear on the title for both husband and wife to be eligible to vote. REGISTRATION: Under the provisions of the Las Vegas Valley Water District Act, the District is divided into seven divisions. Each division constitutes a precinct for the purposes of registration and election. As Secretary of the District, Harry E. Miller is Chief Registrar. Two Deputy Registrars residing in each division, or district precinct, have been appointed to accept registrations. Following is the list of Registrars and the place of registration in the seven district divisions: DIVISION 1. Mary Davison Adeline Devine City Hall l645 Princeton Ave. North Las Vegas North Las Vegas DIVISION 2. Hazel Longo Andrew Brunner 1409 Sharon Road 1320 D Street Las Vegas Las Vegas DIVISION 3. Dorothy Launders Rita Ehre 7b2 Encanto Drive 100 Washington Las Vegas Las Vegas DIVISION ^ Grant Stewart Norine Jeanney 2020 Stewart Ave. 2202 Cedar Ave. Las Vegas Las Vegas DIVISION Stata Hargrove O.K. Adcock 16 Bonneville 420 so. 3rd St. Las Vegas Las Vegas DIVISION 6. Annette Drury Eunice Wagner 2101 So. 10th St. 113 So. 27th St. Las Vegas Las Vegas DIVISION 7. Blanch Jenkins Ann Dohrenwend 86 Magnesium Whitney, Nevada Henderson, Nevada Chief Registrar Harry E. Miller, Secretary of the District, and Assistant Secretary Calvin C. Magleby, are authorized to register at-large property owners residing -within the District. The Deputy Registrars listed above can only register those property owners living within their respective division or precinct. Magleby and Miller can register ary property owner living in any division of the District. 6. PURPOSES OF BOND ISSUE: Proceeds from the sale of the proposed bond issue will be used as follows: SEE PAGE 6. 7. REVENUE: In order to defray operating costs and meet interest and principal payments on bonded debt, it is estimated that an average annual revenue of approximately $1,200,000 will be required, all of which must be derived from rates paid by water consumers. (See separate tabulation) 8. EXPENSES: Total expenses for the first ten years will average approximately $1,215,000 annually, according to present estimates. This includes the following: Estimated annual average operating costs $ 575,000 Estimated annual average bond interest 350,000 Average annual bond retirement 290,000 $1,215,000 See separate tabulation. ESTIMATED WATER RATES: At the outset of operations, the engineering studies indicate that the average annual water rate of each consumer will approximate from $75.00 to $80.00 annually, or, about $6.50 monthly. This compares with the present average monthly rate of $2.70 per house in Las Vegas. As the population of the area grows, and service connections are increased, rates should decline. 3. 10, FINANCING: If the proposed bond issue is approved and authorized at the September 30th election, the District will issue bonds that will be the general obligations of the District, for the payment of which the full faith, credit and resources of the District will be pledged; provided, however, that so far as possible principal and interest will be paid from revenues. In the event that revenue from operations should prove insufficient to meet principal and interest payments, and to cover maintenance and depreciation charges, the deficit would be supplied from tax revenues in the District. MATURITY: Based upon the best engineering and fiscal data currently available, the District anticipates that the bonds will be set up to mature over a 30 year period, commencing in 19% and running to 198it. Interest on total bonded debt would start to accrue as soon as the bonds are issued and sold, but the annual payments on principal through retirement of bonds is not scheduled until 19%. As now set up, the proposed bond maturity schedule calls for retirement of $200,000 annually in 19%, 19% and 1957. Thereafter the amount would increase from $260,000 in 1938 up to a maximum of $405,000 in 1962. In 1963 ?350,000 would be retired, After that the yearly retirement of principal would be fixed at $290,000. Final determination concerning the length of the maturity, and the amounts to be retired each year, as well as any callable features, must necessarily depend upon marketing conditions existing when the bonds are sold. In this connection, the District is given considerable latitude under the law, which provides that bonds may carry a maximum of 6% interest rate, and may run for a maximum period of 40 years. 11. WATER CONSUMPTION: The present daily average consumption in Las Vegas is 13,300,000 gallons. This is based on the average for a 365 day year, with consumption ranging from a minimum low day of 12,000,000 gallons in the season of lowest consumption, to a 20,000,000 gallon maximum day, at the peak of the summer period. 12. LAKE HEAD SUPPLY: Installation of the pipe line to transport Lake Mead water into the District will make available an additional 13,750,000 gallons daily to supplement the present underground supply from wells. Under the terms of the contract made between the District last year with Basic Management, Inc., operators of BMI, the District is permitted to take up to 5,000,000 gallons daily from the b.0" line running from the Lake to Henderson at cost. The contract further provides that the District may increase this amount by 8,750,000 to a total daily maximum of 13,750,000 gallons by installing improvements to increase the capacity of the existing ^0" pipe line from Lake Mead to Henderson. The cost of these facilities, which must be borne by the District, is estimated to be $620,000. Although it is anticipated that the daily average requirement of Lake Mead water to supplement the underground supply may not exceed 5,000,000 gallons during the first several years of operation, the District plans to immediately install the facilities necessary for maximum capacity. This will place the District in a position to draw on the full supply available from Lake Mead without construction delays, in the event of an unusual spurt in population or other developments demanding a sudden increase in water consumption. It will also provide a desirable safety factor to meet any possible emergency that might otherwise arise. PROPOSED EXPENDITURES FROM $8,700,000 BOND ISSUE BASED ON ESTIMATED COST OF PROPOSED IMPROVEMENTS (Compiled by James M. Montgomery, District Consulting Engineer) 1. 30-Million gallon reservoir in West Las Vegas ............................$ 710,000 2. 1^-Million gallon reservoir at Manganese Ores ................85,000 3. Control building at Manganese Ores ..................................................$3,500 it. Booster pumping station on U.S. Highway 95 ..................................197,000 Pipeline from Manganese Ores to 30-Million gallon reservoir.. 1,661,500 6. Pipeline from Fremont Street to 30-Million gallon reservoir via Charleston Boulevard ....................................292 ,000 7. Miscellaneous improvements to production facilities ..................133,000 8. New Water Wells ..........................................................................................68,000 9. Improvements to increase capacity of 4O-inch pipeline from Lake Mead to Henderson ..................................................................620,000 10. Miscellaneous additional transmission pipelines ..........................000 11. Miscellaneous additional improvements to distribution system.. 632,000 12. TOTAL ESTIMATED CONSTRUCTION COST ........................................................$ 3,007,000 13. Contingencies ................................................................................................262,000 li;. Purchase of existing water system from Union Pacific R.R..........2,$00,000 l^. Acquisition of sites, rights-of-way, easements, etc....................$0,000 16. TOTAL ACQUISITION AND CONSTRUCTION COSTS $ 7,819,000 17. Total incidental expenses, including return of loans from county, working capital, engineering, legal and miscellaneous .................................................................$33,000 18. TOTAL ESTIMATED COST OF PROPOSED IMPROVEMENTS ..............................$ 8,354,000 19. Cash Reserve required to cover estimated bond interest during construction and for six months thereafter ............346,000 20. TOTAL AMOUNT OF PROPOSED BOND ISSUE ...............................................$ 8,700,000 6.