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( C O P Y ) Los Angeles - March 3, 195^ Mr. L. R. Maag - Las Vegas: (CC- Mr. R. M. Sutton - Omaha Mr. E. E. Bennett- Los Angeles) Please refer to your letter to me of February 25, 19 5*1-, your files W 9-1-3 and W 26, relative to transfer of certain Items of translte pipe and fittings from the Railroad accounts to LVL&W accounts. Under agreement of June 1, 1953, between the Railroads, the Water Company,and the Las Vegas Valley Water District, the Railroads and the Water Company agreed to sell to the District, under Section 1 (h), all of the materials and supplies belonging to the Water Company. Under this agreement the Railroad Company does not agree to sell any of its materials and supplies to the District. There is nothing in the contract which in any way limits the right of the Water Company to purchase materials and supplies for use in the operation of the water system. The Water Company has the right to buy materials and supplies from the Railroad Company as well as any other vendor. So long as the materials and supplies purchased by the Water Company are purchased in good faith and are useful materials and supplies, the District is obligated to acquire them under the terms of the agreement. Therefore, I approve of your immediately transferring to the Water Company the usable materials now owned by the Railroad Company at their ledger value. There is nothing in the agreement of June 1, 1953, that supports Mr. Montgomery's view that any of the materials and supplies of the Railroad Company are included in the basic purchase price. The purchase price for the materials and supplies owned by the Water Company upon the sale date is the difference between the ledger value of those supplies on the sale date and the ledger value of the materials and supplies which were on hand as of September 1, 1952, the then ledger value being $29,902.90. If the ledger value on the sale date exceeds this sum, the difference is added to the purchase price. If the ledger value on the sale date is less than this price, the difference is deducted from the purchase price. /s/ Wm.R. Wm. Reinhardt