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by act of Land Company? Hunt, at its expense, shall maintain improvements and carry fire insurance; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the following amount is reappropriated for expenditure during year 1961 to complete projects heretofore authorized, involving capital expenditures? $627,502.40 for items costing more than $10,000, as shown on Carry-Over Statement as of December 31s I960. On motion duly seconded, it was RESOLVED, that the action of Vice President Osborne in executing Rider C.L.D. No. 12206-1, dated February 24, 1961, extending to and Including April 25, 1966, Contract Audit No. 10807, dated May 2, 1956, expiring April 25, 1961, between Las Vegas Land and Water Company and Signal Oil and Gas Company (successor to Hancock Oil Company), covering license for 10-inch steel pipe line for conveyance of petroleum and petroleum products over and across property of Land Company near California Avenue and 27th Street, Long Beach, California, rental $5.00 per annum, said license being subject to revocation by Land Company on 60 days writteh notice, and all terms and conditions of original Agreement Contract Audit No. 10807 being in full force and effect during extended term? be, and the same is hereby, ratified, approved and confirmed.