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Officers and Directors THOMAS A. CAMPBELL HOW ARD F. CLARK SPJ *. L. BUTTERFIELD LAS VEGAS VALLEY WATER DISTRICT HARRY E. MILLER E. OTTO UNDERHILL JAMBS CASHMAN JO H N BUNCH WILLIAM COULTHARD Mr. William Reinhardt, Vice President, 3 June 1950. 135 SOUTH 4TH STREET IAS VEGAS, NEVADA T e l e p h o n e 1 7 5 0 Las Vegas Land and Water Co Union P a cific Building, 422 West Sixth Street, Los .Angeles, C alifornia. WM. R. JUN 29 Dear Mr. Reinhardt: The Board of Directors of the Water D istrict discussed at some length la st evening at their meeting the report which I made on our informal discussions May 24th rela tiv e to the valuation study of the lo c a l water u t ilit y . You may re c a ll that we took up the two approaches to a purchase arrangement, f ir s t that by negotiation we might be able to jo in tly arrive at a. satisfactory price for the system, and secondly, that possession might also come through a condemnation proceeding which the D istrict is empowered to in itia te . There seemed to be favorable points in behalf of either o f the approaches. The lo ca l situation seems to be developing into another dry summer. R ainfall records indicate that th is part of the country, with Southern C alifornia, is experiencing a severe dry cy cle . These conditions urge us on to faster of our mission. accomplishment through the Courts, X have been instructed to re—open th is part of our conversation on May 24 with you to ascertain whether or not you w ill be favorable to a negotiated sale p rice. Time, we b elieve, could be saved thereby. The amount of the bond issue must soon be decided and your u t ilit y is an important item of the to ta l. I would appreciate hearing from you further on this means of approach to the sale, and with kind regards, I remain Very truly yours, JUN 6 195l L. C. C.