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Transcription
Mr. Calvin M. Cory: Los Angeles, December 2, 195^ 80-11 (cc - Mr. Wm. Reinhardt) In connection with discussion relative to waiver of taxes on property sold by the Water Company to the Water District and as a further argument to justify our position that all of the taxes should be waived, I draw your attention to the Supplemental Agreement dated March 16, 195^, copy of which was sent you with my letter to Mr. Bongardt of April 13# 195^* Under that Supplemental Agreement to the Basic Contract of June 1, 1953, we extended the Basic Contract at the request of the District by extending our right to terminate the said contract at any time after December 31, 1953# if the District should have failed to sell its bonds. If the District had been on its toes in selling the bonds, the sale would have been consummated in 1953 and undoubtedly the District would have taken this property subject to all of the 195^ taxes. It would seem to me that by giving the District this extension of time we exposed ourselves to the taxes for that portion of the year 195^ until the sale was actually consummated. For that reason we should have the complete assurance and help of the District in having all of these taxes waived. DEC 2 1954 E, E. Bennett EEB: MSB
