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/ ? Hr. Wm. Reinhardt IP- ? December 11, 1951 it stated that the value was approximately $2,000,000 more or less and that since that time we had made a great many improve­ments to the facilities and that speaking without having the definite figures before me, 2 felt they should be giving con­sideration to a figure of $2,750,000.00. He then asked me if that included the land and I told them that It did not as we did not know how much land the District intended to buy. I suggested to him that he have some engineer determine the amount of land they felt nec­essary to protect their water supply, Including therein the necessary rights of way for existing pipe lines and power lines, have the land appraised by a committee of local real estate men, and give us the figure they felt to be reasonable. They next brought up the question as to whether we would accept bonds of the district for the purchase price. I told them that that matter would have to be considered by our New York office and I thought it would be desirable for them to write you asking whether the Company would accept bonds and In that letter give a brief outline of the form of bonds which would probably be offered, especially with respect to sinking fund provisions, approximate rate of return, income tax free provisions, and the nature of the security back of the bonds.