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AGREEMENT REACHED—Frank Hamilton, attorney for the Las Vegas valley water district, is shown, seated at the table left, as he made the dramatic announcement to the Colorado river com* mission yesterday, that an agreement between the lessees and. the district had been reached regarding the water problem. At his left is Cassandra O’DCII, CRC secretary; and in the rear, in the first row of seats, from left to right, are: J. M. Montgomery, S .L . Butterfield, Grace Byrne and Thomas A. Campbell, In the rear row,, identifiable from left to right: Howard Clark, ir* the second seat; John Bunch, James Cashman and John Mueller. lection The bond election for the $7,000,000 needed to bring Lake Mead water into the as Vegas valley, should be ready by late summer or early fall, it was indicated today Thomas A . Campbell, president of the Las Vegas valley water district. The an-uncement came after the final hurdle—an agreeiasat. between the. lesgqgs at. Basm^ 'd the water district, as to details.tdvthfc ahf t n ^ ; dw&m me at a meeting y e s t e r d a ? J H H H H r a » A O i? lb ’’ ilU W0Ii % ampbell said there would be ™ Two further steps necessary be* fore the bond election could be put together : 1 — to reduce the tentative agreement reached yesterday to writing, and, 2—To negotiate to an escrow agreement, the tentative pur­chase of the Las Vegas Land »and Water company distribution facilities in Las Vegas. The water district pointed out that the legal technicalities in­volved in bringing the election tc pass >were quite specific, as far as the bond election laws are concerned, and it will take anywhere from two to three months to get all the facets _ of the district proposals into writing for "the call for election. He pointed out that prelimi­nary negotiations with the water ! company already have been had, a tentative price of $2,700,000 has been set and it is not expect­ed that the final parleys will take too great a length of time, unless unforeseen problems crop up.T he Colorado river commis­sion is meeting this afternoon to place the final stamp of ap­proval on the proposal: The proposal, submitted at a Colorado river commission meet­ing by. Attorney Clifford A. Jones on behalf of Basic Management Inc., provides that the district can "draw up- to-S,OOO;OO0 gallons-of water a day without an ex-, penditure for increasing the ca­pacity of the Lake Mead pipe­line,; and that the district will have a call on a total of 13,750,- 000 gallons per day when and if it finances; the construction of the facilities, necessary to expand the capacity of the Lake Mead line to 51,000,000 gallons per day. This took the district off the spot of financing the entire ex­penditure Of some $7,500,000 at this time arid brought the pre­sent cost within the $6,000,000 limitation set by the district's en­gineering and legal counsel. It likewise assured the district of a definite supply the year-round of 5,000,000 gallons a day now and 13,750,000 gallons a day when needed without any further restrictions. Tom Campbell, president of the water district board, charac­terized- the proposal as “a most generous offer.’-’ , and it was ac­cepted in principle by the district board after a short meeting. Attorneys for the lessees and the district both expressed the (Continued on Page 2)