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upr000091 112

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upr000091-112
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    conditions that are found. ia resolutions authorizing water reveeae bonds of like character with similar security. The date of delivery of swell bonds would be within $0 day® fro® the date of the casual tse at, such delivery t© be at a bank in the .City of Chicago t© be designated by John Ihiveen & Co. f. ffe lailroad Ccaspasy would then proceed to negotiate with the Mater District for the sale of the water properties to the District on the basis that the Satlread Company would accept, and the District would deliver, water revenue bonds in full payment 0 the purchase price,, together with such additional water revenue bond® m Elicit be required to provide sufficient fhnds for presently needed addition® and betterments to the Mater System end to provide the accessary waking capital.. Ia the event such negotiations with the Mater District prove unproductive, the Railroad Company would conduct negotiations with the City of Las Yeg&s for the sale and purchase, respectively, of the Laa Yogs®-Mater Ceaspany and of the water revenue bonds of the City. The Sailroad Cospany would agree in its iaitisl agree­ment with John Suveea & Co. to sell and deliver all of any such bonds to John Suveea & Co. cm the ber» set - forth in the coEasitment of John ffoveen & Co. above mentioned in paragraph h hereof. : 6. The contract between the Hailroad Company and John Huvoen & Co. would further provide that any water revenue bonds so to be sold to John Suvaen & Co. by tha Hailroad Compmy would, at the time of delivery to John Suveea & Co. at a bank, of their designation in the City of Chicago, be ®cem®mie& by the- unqualified approving legal opinion in customary market form of nationally recognised bond attorneys to be selected by John .isssa & Co. The K&ilroad Company would agree that it would cause to be delivered to such bond attorneys certified copies of all resolutions, proceedings rav? other documents relating to the authorisation and issuance of such water revenue bonds, including the usual delivery papers in customary for®, in