UNLV Special Collections provides copies of materials to facilitate private study, scholarship, or research. Material not in the public domain may be used according to fair use of copyrighted materials as defined by copyright law. Please cite us.
Please note that UNLV may not own the copyright to these materials and cannot provide permission to publish or distribute materials when UNLV is not the copyright holder. The user is solely responsible for determining the copyright status of materials and obtaining permission to use material from the copyright holder and for determining whether any permissions relating to any other rights are necessary for the intended use, and for obtaining all required permissions beyond that allowed by fair use.
This material is made available to facilitate private study, scholarship, or research. It may be protected by copyright, trademark, privacy, publicity rights, or other interests not owned by UNLV. Users are responsible for determining whether permissions are necessary from rights owners for any intended use and for obtaining all required permissions. Acknowledgement of the UNLV University Libraries is requested. For more information, please see the UNLV Special Collections policies on reproduction and use (https://www.library.unlv.edu/speccol/research_and_services/reproductions) or contact us at special.collections@unlv.edu.
Digital Provenance
Digitized materials: physical originals can be viewed in Special Collections and Archives reading room
Publisher
University of Nevada, Las Vegas. Libraries
Transcription
Comment: The contract failed to make any provisions either for depreciation or retirements after the cutoff date of September 1, 1952. Depreciation will run at a rate of around 2% or 3$ a year and can amount to a substantial sum of the total purchase price of $2,500*000* Moreover, the contract failed to make any provision in the event that any of the property were lost, destroyed or retired prior to the sale date. Thus, for example, if one of the trucks were to be destroyed, there is no provision for adjustment on account of such destruction. As will hereinafter be indicated, it is hoped that we can persuade Union Pacific to agree to a later termination date than December 31» 1953* In the event that Union Pacific does agree to a later termination date, it is possible that the contract might be in effect for a period of two or three years before the sale date. Ih^that event the amount for depreciation and retirements could be a very substantial figure and one which the District would be unable to stand. Accordingly, it would appear that if a flexible termination date is to be established that sume provisions must be made for depreciation and retirements. 4. Additional Additions and Betterments ror Extensions of the Water System After the Contract Date. Union Pacific's draft would permit them to make any additions they desired to 3.
