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H.W. O’MELVENY 1865*1941 LOUIS W. MYERS JOHN O’MELVENY PAUL FUSS ELL WILLIAM W. CLARY HARRY L.DUNN JAMES L. BEEBE PIERCE WORKS HOMER I.MITCHELL CLINTON LATOURRETTE GRAHAM L.STERLING, JR . W. B.CARMAN MAYNARD J.TO LL JACKSON W. CHANCE JAMES M. IRVINE,JR. SIDNEY H. WALL RICHARD C. BERGEN WILLIAM P. MARTIN DEANE F. JOHNSON JOHN A.POWELL FREDERICK N.EDWARDS ADRIAN C.STANTON LAUREN M.WRIGHT RAY H. LINDMAN JAMES C.GREENE WILLIAM W.ALSUP RODNEY K.POTTER PHILIP A. LOOMIS, JR . JOHN WHYTE GEORGE F. ELMENDORF ROBERT W. LEWIS RUTH ANN SAYLES HOWARD J.DEARDS EDWARD C .F R EU TEL,JR . FRANKLIN T. HAMILTON JAMES E.DUNLAP PHILIP F.WESTBROOK,JR. HUGH L.MACNEIL CLYDE E.TR ITT ERNEST M.CLARK,JR. EVERETT B.CLARY BENNpTT W. PRIEST JAMES E.CROSS E. HARLEY WALTHER JAMES W. BEEBE RICHARD B. RAGLAND HARNED PETTUS HOOSE WARREN M.CHRISTOPHER WILLIAM E.WILEY,JR. RICHARD F. IGL ROY E. POTTS LAW O F F I C E S O F O’ MELVENY & MYERS 4 3 3 S O U T H S P R I N G S T R E E T LOS A N G E L E S 13 February 1 9 5 3 6 9 2 0 S U N S E T B O U L E V A R D H O L L Y W O O D 2 8 C A B L E A D D R E S S " M O M S ” IN R E P L Y R E F E R T O B-2805 S U B J E C T LAS VEGAS VALLEY WATER DISTRICT, Leo A. McNamee, Esq, El Portal Building Las Vegas, Nevada Dear Nr, McNamee: We are encouraged to hear from Tom Campbell that Union Pacific has finally accepted the proposal of the Water District for the acquisition of the Las Vegas Land and Water Company, and that all that remains to be done is the reduc­tion of the matter to a formal agreement. In previous years our office has negotiated a series of contracts with the City of Los Angeles, We thought it might be helpful to you to examine one of said agreements in connection with the preparation of the Union Pacific agree­ment. Accordingly, we are enclosing a copy of the most recent agreement which we have negotiated with the City of Los Angeles for such use as you may desire to make of the same. By and large, the provisions of the Offer and Accep­tance between the District and Union Pacific are satisfactory from the point of view of our office as bond counsel for the District, There is only one matter which we feel that it might be desirable to obtain a further concession from union Pacific. In Union Pacific's letter of acceptance to the District's offer, a deadline of December 31, 1953 was placed upon payment of the purchase price. This might cause the District serious inconvenience in calling the election and the sale of the bonds. It also might force the District to market its bonds at a time during which the municipal market is temporarily unfavorable. By letter to Tom Campbell, a copy of which is enclosed, we have outlined the considerations Involved,