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N E L S O N C O N W A Y , C . P .A . K E R M I T M O E , C . P .A . C L A R E N C E T . H I B B S , C . P .A . R . Y O R K F U N S T O N , C . P .A . C o n w a y , M o e , h i b b s & f u n s t o n . C E R T IF IE D P U B L IC A C C O U N T A N T S 4 4 0 W E S T H O O V E R S T R E E T L A S V E G A S . N E V A D A M E M B E R S A M E R I C A N I N S T I T U T E O F A C C O U N T A N T S T E L E P H O N E 7 0 2 0 June 23, 1954 Mr. Harry E. Miller Secretary-Treasurer Las Vegas Valley Water District 900 South Fifth Street Las Vegas, Nevada Dear Mr. Millers This is to advise the District that we have checked the amounts set forth in the amended escrow instructions pertaining to the purchase of the facilities of the Las Vegas land and Water Company and find that the adjusted Preliminary Purchase Price of $2,299,029.64 is correct except fora $4.33 difference which is not material enough to be of any consequence at this time. We wish to point out however that the reduction of the original Preliminary Purchase Price to the figure noted above, said reduction being to eliminate the $18,629.36 cost of donated laterals, has in turn been added to the Purchase Price Adjustment Fund, with the net result that the total funds to be placed in escrow per these amended instructions is the same total as in the original instructions. However, since the Purchase Price Adjustment Fund is subject to final determination as of the sale date the District will eventually realize the benefit of the elimination of the donated laterals in the final purchase price. Accordingly we suggest the following checks be drawn for transmittal to the First National Bank, to be placed in the purchase escrow: Preliminary Purchase Price $2,299,029.64 Purchase Price Adjustment Fund 176,016.54 Relocation Fund 352,000.00 We also suggest that prior to the release of the checkT'^.hat*^t!he Eraard approve an appropriate resolution relative thereto and that the checks be accompanied by a letter of transmittal from your legal counsel, pending final execution of the escrow instructions with amendments thereto. Yours very truly, CONWAY, MOE, HIBBS & FUNSTON cc: Mr. T. A. Campbell P. 0. Box 85 Del Mar, California Mr. Franklin T. Hamilton O ’Melvany & Myers Attorneys at'Law 433 South Spring Street Los Angeles 13, California