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COPY JOKES, WESKER & JOKES Attorneys at Lav Beckley Bldg., Las Vegas, Nevada January 18, 19^9* Las Vegas Land and Water Company, Brvand and Corv 1114 North Third Street Las Vegas, Nevada* Gentlemen: At a meeting held in Las Vegas Friday, January l^th, the Board of Directors of the Las Vegas Valley Water District requested me to vrite to you stating that the Board Is desirous of commencing negotiations vith you with a view to making an appraisal of your properties in las Vegas as a foundation for further negotiations. It was suggested that possibly the Water District could appoint an engineer to work vith your engineer in making a preliminary survey and appraisal of your physical properties and that you might be willing to permit an accountant or auditor, selected by the water District, to confer with your cwm account* ants and auditors to obtain the necessary information upon which to base book values. It appears to thfe Water District that some of this preliminary survey work would have to be done in order to form the basis for negotiations. As you have been previously advised, the Water District desires to purchase your company's interest in Las Vegas, and are prepared to go forward with a program aimed at establishing a Just and fair appraisal, and of detaining the funds necessary to compensate you for your properties if and when an agreement as to price is reached. In this regard I am pleased to state that for some time the Water District has been in communication with one of the Nation * 8 foremost firms of bonding attorneys. We are prepared to take full responsibility for the legality of the District, its organization and any bonds it might issue to raise the funds necessary to purchase your interest. At the appropriate time we will furnish you an opinion by a recognized firm of bonding attorneys approving the legality of the District and of any bonds we may issue for the purpose of raising funds with which to purchase your properties. It would be appreciated if you would let us know your thinking with regard to this matter and give us the benefit of your suggestions as to how we might best go about obtaining the information necessary as a basis for negotiations. Very truly yours, /&/ ROBERT X. JONES, District Attorneys REj/bmp