man000205 38

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 rout, Regardless of such conveyances and transfers between the First Parties or their affiliated corporations, First Parties shall not be relieve*! of their obligations he rounder to convey or cause to be conveyed such properties to the District at the tiros and subject to the conditions herein referred to. ft# obligation of the First Parties to convey, or to ca m # to be conveyed, said prop­erties to the District at the tiros and subject to the conditions, herein provided shall be subject to the ability of First Parties, or their said successor or successors in ownership, to obtain such approval of applicable governmental authorities, including the Ms* vada Public Service Commission, as nay be required. When the es­crow referred t© in Section 9 hereof shall have been opened, or at such earlier tiro m the parties hereto actually agree, First Par­ties, or such of them as may be concerned therewith, shall file with the Public Service Comission of the State of hevada application re­questing authority of the said Commission to transfer such of said properties m are then maintained and operated as a public utility for the furnishing of water to the inhabitants of the City of las Yegas to the District in accordance with the provisions of this a-greeront and shall thereafter diligently prosecute said application for the purpose of securing such authority, unless the parties here­to shall agree that such authority in not required. Section 14. It is understood, that in order to finance the purchase of the properties referred to in Sections 1, 5 and 6 'hereof it will be necessary for the District to be authorised to issue bonds pursuant to the statute under which the District was created 30.