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P lu m le ig h -G llle tt, I n c . , and i t s successor Lee Construction C o., In c. . requ ires a d d itio n a l working c a p ita l in thWir business and d e s ire to s e l l tfcfiifcr in te r e s ts in the above refund (agreements. Mr. Southard, abd.fe c h '^'•in^-tnybdiTtrders are w illin g to accept cash payment equal to the present day worth a t 6% of the a n ticip a ted refund during the remaining term o f each agreement a t current water rates le s s 25$ discount as in d ica ted on the attached statements. Based on current ra tes I a n tic ip a te refunds during 3 Sk ts* ^jji * remaining term o f the agreements w i l l amount to |22?8Trtt- (th is amount would be increased in event o f an increase In ra te s ) which the in tere s te d p a rtie s are w illin g to s e l l fo r the t o t a l sum o f i i3 i¥ h -ifts I recommend au th ority to nay to Mrs. Southard, Plural®igb»81. 11eIt , In c ,yA Lee Construction Company, Ina, and Poderal , the am unts set fo r th above upon execution o f appropriate documents relea sin g the Water Company from i t s o b lig a tio n t© refund p ortion o f payments received subsequent to July 1, 1952 from s a le o f water under the above m mentioned agreements. I have discussed tills proposed w ith Mr, Bennett and he sees no le g a l o b j e c t ! ,>» to the Water Company purchasing these agreements. ft* H. Johnson