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Page Four October 15, 1952 It Is understood that In order to finance this purchase It is necessary that the undersigned be authorized to issue bonds pursuant to the Statute under which the undersigned was created and is acting. Therefore, one of the conditions of this offer is that it shall not be binding upon the undersigned until its bonds so to be authorized are sold and the money therefrom is available. This offer shall remain in effect until it is rejected by you or is withdrawn by the undersigned by notice given thirty days before such withdrawal becomes effective, which notice shall be made and given with the same formality as this offer is made and given. Will you please advise your reaction to this offer, and if tentatively acceptable, will you suggest a time and place where your attorneys can meet with ours, to draw up the papers setting forth a detailed agreement between us pertaining to the subject matter of this offer. Dated this 15th day of October, 1952. LAS VEGAS VALLEY WATER DISTRICT (Sgd) Thomas A. Campbell______ Thomas A. Campbell, President (Sgd) Spencer L. Butterfield Spencer L. Butterfield, Vice-President (Sgd) G. William Coulthard____ G. William Coulthard, Secy-Treas. (Sgd) Harry E. Miller_________ Harry E. Miller, Director (Sgd) James Cashman___________ James Cashman, Director (Sgd) John Bunch______________ John Bunch, Director