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136 In response to questions, Manager Renshaw advised tha^Sniy land sold to date has been sold to the. C ity and the School District, with the exception of one small parcel to Carl Hyde. He noted that there have been numerous requests to purchase District land, but they have all been turned down, since it had been the attitude of the previous Boards that the land should be sold for public purposes o n ly. Director Werner did not think the District should make <my further sales of land until after the proposed streets had been agreed upon by the C ity and the District. Director Foyle felt that it would be better to sell the land as long as the District did not need it . .In response to questions, the Manager outlined the areas on the map which- could*be sold. However, he pointed out that the Revenue Fund is close to the limit at the present time and any funds received from the.sale o f land would have to be used to retire bonds. Since there is a lot of work to be done in the future, he suggested that it might be. well to sell the land as the money is needed, if the Board agreed to sell it at a ll. President Luce explained that he felt the matter should be referred to a committee for further study and consideration before any action was taken. He appointed Directors Ryan, Gedance and Fayle as a committee to meet with Manager Renshaw to study the matter. It was generally agreed that the Manager should write Reverend O 'C o n n o r, advising him that the Board was not in a position to sell any District land, but that his request had been referred to a committee appointed to study the matter. RETIREM ENT SYSTEM FOR D ISTR ICT EMPLOYEES The Board considered the following memorandum from Manager Renshaw dated A p ril 23, 1959 relative to a retirement system for District employees. T O : Board of Directors FR O M : W . C . Renshaw SU BJECT: Retirement Plan for District Employees Since my memorandum of A p ril 13, 1959, a letter has been received from the State of Nevada Employment Security Department, a copy of which is attached, indicating that the District would not be able to withdraw from the Federal O ld Age and Survivors Insurance coverage, and thus become eligible for membership In the State system, prior to 1964. This would appear to eliminate the State Retirement system from serious con­sideration as a means of providing a retirement-plan for employees. For the information of those members of the Board-of Directors who may not be familiar with Board action and discussion over the past several years, these w ill1 be reviewed. The question of-providing a retirement-plan-was first brought up at a meeting between a committee of the Board of Directors and representatives of the employees on Ju ly 19, 1954; shortly- after the District- took over operation of the water system. This meeting was arranged at the suggestion of the Manager because of dissatisfaction of the employees with wages and working conditions existing at that tim e. Most of the problems were amicably resolved and the employees were given to understand that the District would try to work out a retirement plan.