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said Colorado River Commission and the Water District, with the approval, consent and further agreement of General Services Administration and being entitled - "A G R E E M E N T FOR THE DELIVERY O F WATER A N D THE C O N V E Y A N C E O F C ER TA IN E A S E M E N T S ", a copy of said proposed contract having been furnished to each Director prior to the special meeting. The President .stated that said contract in general pro­vides for the delivery by the State to the Water District of water from Lake Mead to Henderson through the existing water facilities of Basic Magnesium Plant in quantities not to exceed one third of the daily delivery capacity of said water facilities for a period of forty years and at "actual cost", as that term is defined in said proposed contract. The President then invited discussion from the Directors concerning the provisions of said proposed contract. There were no comments from the Directors. The President then asked if any Directors had any further comments concerning the provisions of said proposed contracts, or either of them. N o comments were offered. Upon motion duly made by Director Butterfield, seconded by Director Coulthard, an<3 unanimously carried, the following resolution was adopted: The Board of Directors of Las Vegas V alle y Water District D O ES HEREBY RESOLVE as fol lows: Section 1. That as to said proposed contracts above mentioned, being entitled respectively: (a) "C O N T R A C T FOR THE SALE A N D DELIVERY O F WATER FR O M ST O R A G E IN LAKE M E A D ", and (b) "A G R E E M E N T FOR THE DELIVERY O F WATER A N D THE C O N ­V E Y A N C E O F C ER T A IN E A SE M E N T S" i this Board hereby approves all of the terms and provisions thereof, as the same are set forth in the copies of said proposed contracts heretofore delivered to each Director and referred to in said consent and w aiver. Section 2. That the President and the Secretary hereby are authorized and directed, to execute for and on behalf of Las Vegas V alle y Water District each of the above mentioned contracts and to affix the seal o f said District thereto. Section 3. That the President is hereby authorized and directed to seek the consent, approval and further agreement of General Services Administration to the "A G R E E M E N T FOR THE D ELIVERY O F WATER A N D THE C O N V E Y A N C E O F C ER TA IN E A SE M E N T S" by obtaining the execution thereof by said Administration. The President stated that the next matter on the agenda was the consideration of the adoption of a new resolution fixing the time and place of meeting of said Board of Directors. Upon motion duly made by Director Butterfield, seconded by Director Underhill, and unanimously carried, the following resolution was adopted: * * * * * * * * * * * * * * * _ The JJoard-of-Directofs-of-the-Las-VegasA|1aHey WaterT)TsfrictT)OES HEREBY RESOLVE as follows: Section 1. That regular meetings of said Board shall be held at the hour of 4:00 o 'clock P . M . , on the second Friday of each month, provided, however, that if said second Friday falls upon a legal holiday then the regular meeting shall be held upon the next succeeding Friday.