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TO MILES IDBUKUI la re: j£6LE Of J M V8G&S m s m COm M Z , M B IM S , mSMBk Relative to the inquiry concerning the flsaaeisg ©f the sale of the x«b Yegae Water Company to the las Vegas Valley Water District or the City of Tt”*3 Vegas we would enter 1st© an agreement cosKiemlng sack f inancing on substantially the following terns esmi conditions: 1. Oar agreeaenfc would he with the Union Pacific Railroad, which we will refer to as the "Railroad Ccsqpaay”. 8. The Railroad Company would agree that upon the of the contract it would sake its hooka and records relating to ids© las Vegas later Company available to John Buveen it Co. and the engineers of John Skveea ig Co. for exswiaation and study. The Railroad Company would, in such agreement, set forth the price fear which it would sell the Water Ccapasay, such sale to he only to said Water District or City. 3 ltf after preliminary examination of the heeds® and records of the Water Company, it appears that the price ashed hy the Railroad Cos^aay for the imter properties is wash that it could he paid hy the Water District or the City from the proceeds ©£ an issue of water revenue heads, allowing for necessary cash for working capital and presently needed inproveneats and extensions* then John Screen Us Co. would direct its engineers t© sake a complete survey of the properties, the water supply, probable future growth, potential demands m the system, and other pertinent and related factors and to-safes a report there®®. Such report would also a history of the operation of the properties, revenue available for payment ©f debt service requirements on the water revenue hoods, and an estimate of future capital requirements* operating coats and net revenues. Upon ' eoi^pletion of such engineering report, which would he within 220 days from