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E. E. B- APR 29 1954 Mr, fata, Reinhardt I , JliOS^Mr. E. la Barnett I % Mr, Deu» Smith has Vegas, Nevada April 38, 1954 to the Las Vegas Valley Water District, which are enumerated as follows: 1, Mr, Miles Pellkan, cm behalf of John Nuveen and Company and associates, offered to purchase 18,700.00 w?rth of bonds for #8,700,906,54. This bid was accompani CasIli6r s Cheok the amount of $200,000.00, con­ditioned upon application of said sum towards the purchas price, if accepted, and return, if not accepted, with a f2rfeiiure of sald In event of acceptance but failure of performance by bidder. The bonds were specified to be general obligation bonds of the district, secured by a pledge ef revenues of the district, with the condition that the district increase its water rates and install meters. Bonds maturing in the following years were to bear Interest as follows: A check by the Water District established that the over­all average rate ef interest was 3.97315$. The bid cf this bidder was for the purchase of all bonds and was conditioned upon the Las Vegas Valley Water District taking title to the Las Vegas Land and Water Company simultaneously with delivery of bonds which are to be delivered under the notice of bid and bid within 30 days after award of the bid. John Nuveen et al. further specified that Section 19 of the bond resolution relating to the establishment of a reserve fund should be amended to provide that said fund shall be maintained from revenue, and in the event that revenue is insufficient to maintain said reserve fund for a period of six months 1957 - 1961 1962 - 1976 1977 - 1979 1980 - 1989 1990