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IAS VEGAS LAND AND WATER COMPANY Omaha - March 18, 19 5 4 704-36 W M... „R* Mr. E« E. Bennett - Los Angeles, Calif*i M A R 2 2 1954 (CC-Mr* W# Reinhardt, Los Angeles, Mr. W* R. Rouse, Mr, W. H. Hulsizer) This refers to Mr. Reinhardt»s telegram R-9 of Febr* 12 and my J-21 of Feb. 15, regarding contrast dated June 1, 1953, covering sale of the water production, storage and dis­tribution system at Las Vegas, Nevada, to Las Vegas Valley Water District* Attached for your perusal and review is statement and supporting supplements thereto, showing details of amount that would be due from the Water District according to books and accounts of the L.V.L.& W*Co* as of January 31, 1954, ex­cluding taxes, escrow charges and any other items for which figures are not yet available pending actual sale date. statement, while not specifically provided for in the contract, seems to be one which should be taken into consideration, as indicated* There may be other similar deposits on hand at the time of sale, and if you approve, we will report such items on the statement to be prepared at that time, In like manner* It is assumed that in due course Mr. W. H. Hulsizer will arrange for the prorating of taxes as provided for by Section 6 of the contract, billing the Water District for their proportion thereof, and likewise that he will bill them for their one-half share of the escrow charges when aeerued, as provided for by Section 7, second paragraph, page 23 of the contract• same time effect a more orderly transfer and cut-off in the accounts, it is suggested that if at all possible to so work out agreement with all concerned, the sale date be made effec­tive as of the end of a month* Even If this is arranged, it will take some time before all figures applicable to the con­tract can be determined and assembled due to time required to handle and process bills payable, accounts receivable sheets and other documents to be received from the Las Vegas Office* However, the complications on this basis would bo much less than if the sale were made at some time other than close of a month* The item referred to as "Other Deposits" on the In order to avoid extra work and confusion and at the Hr mar m \ m