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LAS VEGAS VALLEY WATER DISTRICT BOND ISSUE ELECTION ANNOUNCEMENT 1. ELECTION DATE: Directors of the Los Vegas Valley Water District, at a meeting held on Friday afternoon, August 21, 1953, formally adopted a Resolution setting Wednesday, September 30, 1953, 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. Comment; District Directors explained that the $1,200,000 difference between previous estimates of $7,500,000 bond issue, and the final $8,700,000 figure is due to the fallowings (a) Additional water mains required by the Las Vegas City authorities, amounting to approximately $500,000. (b) Cash reserve to cover estimated bond interest during construction and the initial stages of operation, $346,000. (e) Anticipated extensions to new subdivision developments. This Includes extensions of a 24“ line to run westerly from Hyde Park to the southwest comer of Section 36, in the West Charleston area, where another elevated tank will have to be erected. This amounts to approximately $354,000. 1.