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X the President, were submitted for ratification: W. 0. #613, issued Dec. 31, 1948; Los Angeles, Calif.; retirement of Lots 1 to 5, inc„, Tract 8337, sold to Murray B. Marsh Company, Inc., as per Deed Audit Ho. 4989. Credit Unimproved Real Estate- Calif ornia, $13,751; Sale price of land, $31,125; Creditable to Profit on Sales of Real Estate, $17,374; Estimated cost of removal of property retired chargeable to Profit on Sales of Real Estate, $163, A. F. E. Ho. 1 (W. 0. #614), issued January 25, 1949; Las Vegas, Hevada; construct 4708 ft. of 12,( and 10” water pipe line from Railroad main at U. S. Highway and Bonanza Road to connect at Ophir Drive with 20,538’ of existing distribution system in Bonanza Village Tract to be acquired from Subdivider, Waale, Camplan & Tiberti, Inc. Total estimated expenditure, $68,477, chargeable to Investment in Water System-Las Vegas, Hev. Whereupon, on motion duly seconded, it was RESOLVED, that the action of President in approving the aforementioned A. F. E. Requests, be, and the same is hereby, rati­fied, approved and confirmed. There being no further business to be transacted, on motion duly seconded, the meeting adjourned. (Signed) Wm. Reinhardt Chairman Attest; * I, _____ (Signed) W. H. Johnson Secretary I, W. H. Johnson, Secretary of Las Vegas Land, and Water Company, do hereby certify that the foregoing is a full, true and correct copy of minutes of meeting of Board of Directors of said Company, held February 15, 1949. Secretary, Las Vegas Land and Water Company -7-