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August 16, 1954 Pile 80-11 Mr. Leo A. McNamee 310 Fremont Street Las Vegas* Nevada Dear Leo: After my phone conversation with you yesterday, I talked to Mr. Maag, who was sitting with Mr. Renshaw, and they advised me that the District, upon the advice of Mr. Conway, has accepted the Statement of accounts submitted with Mr. Sutton’s letter of July 26th, copy of which was available to Mr. Conway, and under which, as I figure it, the District owes the Railroads some lution formally approving such accounts, instructing that the money be paid over to the Railroad Company, and that the Bank be requested to distribute to the District the balance of the so-called Purchase Price Adjustment Fund. of handling the taxes. As you know, the contract in Section 6, page 21, provides for proration of taxes as of the sale date. The original Escrow instructions, Section IX, provide for the proration of taxes presumably in escrow. The amount of these taxes, as you know, can not be definitely ascertained for several months, and I presume we can arrange by an exchange of correspondence, based on the resolution of the District above referred to, that the First National Bank of Nevada is relieved of all consideration of proration of taxes, which will be handled out of escrow if and when determined] that the balance due the Railroad, other than taxes, will be paid over to the Railroadj that the balance due the District out of the Purchase Price Adjustment Fund will $18,245.29 I am also advised that you are to prepare a reso- We will have to give consideration to the method