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A P P E N D IX A R E S O L U T IO N O F T H E B O A R D O F D IR E C T O R S O F T H E L A S V E G A S V A L L E Y W A T E R D IS T R IC T P R O V ID IN G F O R T H E IS S U A N C E O F B O N D S O F T H E L A S V E G A S V A L L E Y W A T E R D IS T R IC T , F I X I N G T E R M S A N D C O N D IT IO N S T H E R E O F A N D C O V E N A N T S R E L A T IN G T O P A Y M E N T O F S A ID B O N D S A N D T H E H A N D L IN G O F F U N D S . W H E R E A S , pursuant to a resolution adopted on A u gu st 21, 1953, b y the Board of D irectors of the Las V egas V a lley W ater D istrict a special election was duly and regularly held in said Las V ega s V alley W ater D istrict (hereinafter referred to as “ D istrict” ) on the 30th day of Septem ber, 1953, at w hich election there was subm itted to the qualified electors o f said D istrict the follow in g bond proposal, to w it : Shall the Las V ega s V alley W a ter D istrict incur an expense and indebtedness and issue its negotiable bonds therefor in the principal am ount of $8,700,000, the purpose for w hich the m oney so raised shall be used being as follow s, to w it : A . T h e acquisition and construction b y the D istrict o f facilities for the developm ent, produc­tion, pum ping, storage, transm ission and distribution o f water, including (1 ) the acquisition o f water, water rights, water bearing lands, and the acquisition and construction o f w ater wells, pum ps and pum ping plants, storage facilities, transm ission and distribution lines and facilities, and the relocation o f w ater transm ission mains and pum ping plants or parts th ereof; (2 ) the construction o f repairs and betterm ents to, of additions to and extensions of water pum ping, storage, transm ission and distribution facilities; (3 ) the acquisition and construction o f electric p ow er lines and equipm ent for the pum ping of w ater; (4 ) the acquisition o f all lands, easements, rights o f w ay, w orks, and real or personal property constituting or appurtenant to or necessary or convenient for any of the above m entioned facilities; (5 ) the providing o f funds for the operation o f any of the above m entioned facilities; and (6) the paym ent of all incidental expenses in connection w ith such acquisition and con­struction ; B. T h e paym ent o f expenses incurred in connection w ith the authorization and issuance of the bonds, the paym ent o f interest on the bonds during the period of construction of any im provem ents for w hich the bonds are voted and for six m onths thereafter, and repaym ent to Clark County o f any am ounts advanced to the D istrict b y said County and W H E R E A S , said bond proposal received the affirmative vote and assent o f m ore than a m ajority o f the qualified electors o f said D istrict votin g at said election, and said D istrict is now authorized to issue bonds in the am ount and for the purpose set forth in said p rop osa l; N O W , T H E R E F O R E , the Board o f D irectors o f the Las V egas V alley W ater D istrict D O E S H E R E B Y R E S O L V E , D E T E R M IN E A N D O R D E R as fo llo w s : Section 1. Amount, Issuance, Purpose and Nature of Bonds. T hat Bonds o f the Las V egas V alley W a ter D istrict, a public corporation situated in Clark County, State o f Nevada, in the principal sum o f $8,700,000 be issued and sold fo r the purposes stated in the bond proposal set forth in the recitals hereof. Said bonds shall constitute general obligations o f said D istrict, for the paym ent o f w hich the full faith, credit and resources of the D istrict are pledged. Said bonds shall be issued under and pursuant to Chapter 167, Statutes o f N evada, 1947, as amended and supple­mented. Section 2. Description of Bonds. Said bonds shall be in the principal am ount o f $8,700,000, shall be eight thousand seven hundred in number, num bered 1 to 8,700, inclusive, and shall be o f the denom ination o f $1,000 each. Said bonds shall be designated “ W A T E R W O R K S B O N D S , 1954,” shall be dated M arch 1, 1954. T he bonds shall mature and be payable on M arch 1, 1957 1 and on each M arch 1 thereafter, to and including M arch 1, 1990, in the numbers and aggregate principal amounts set opposite each year in the follow in g m aturity table, to w it : Bond Num bers Am ount of Bonds Year o f M aturity Inclusive ---------------- ---- -------- -----------------— ----- 1 to 100.... 101 to 205.... 206 to 315.... 316 to 430.... 431 to 555.... 556 to 685.... 686 to. 820... 821 to 960... 961 to 1,110... 1,111 to 1,265... 1,266 to 1,425... 1,426 to 1,595... 1,596 to 1,775... 1,776 to 1,960... 1,961 to 2,155... 2,156 to 2,360.. 2,361 to 2,575.. 2,576 to 2,800.. 2,801 to 3,035.. 3,036 to 3,280.. 3,281 to 3,540.. 3,541 to 3,810.. 3,811 to 4,095.. 4,096 to 4,390.. 4,391 to 4,700.. 4,701 to 5,025. 5,026 to 5,365. 5,366 to 5,720. 5,721 to 6,095. 6,096 to 6,485. 6,486 to 6,895. 6,896 toi 7,325. 7,326 to. 7,775. 7,776 tc, 8,700. $100,000 1957 105,000 1958 110,000 1959 115,000 1960 125,000 1961 130,000 1962 135,000 1963 140,000 1964 150,000 1965 155,000 1966 160,000 1967 170,000 1968 180,000 1969 185,000 1970 195,000 1971 205,000 1972 215,000 1973 225,000 1974 235,000 1975 245,000 1976 260,000 1977 270,000 1978 285,000 1979 . 295,000 1980 . 310,000 1981 . 325,000 1982 . 340,000 1983 . 355,000 1984 . 375,000 1985 . 390,000 1986 . 410,000 1987 . 430,000 1988 .. 450,000 1989 _ 925,000 1990 Section 3 Interest Rate and Place of Payment. Said bonds shall bear interest at a rate or rates to be hereafter fixed by resolution and said interest shall be payable semiannually on the first days of M arch and Septem ber o f each year, except that the interest for the first year shall be payable in one instalment on M arch 1, 1955. Each bond shall bear interest until the principal sum thereof has been paid; provided, how ever, that if at the m aturity date of any bond or if the same is redeem able and has been duly called for redem ption, funds are available for the paym ent or redem ption thereof, in full accordance w ith the provisions of this resolution, said bond shall M W to bear interest. Said bonds shall bear interest at a coupon rate not exceeding six per H (6% ) per annum and shall be sold at a price w hich w ill not result in an interest yield therefrom of* m ore than six per cent (6% ) per annum com puted to average maturity accordi g to standard tables o f bond values. Said bonds shall be payable, both as to principal and interest and as to any premiums upon the redem ption thereof, in lawful m oney o f the U nited States of Am erica at the office o f the Treasurer of the D istrict in the City of Las V egas, N evada or at a y M B H H i of the Las V egas V alley W ater D istrict in T he City o f L os Angeles. Cahform a m the C k y o f Chicago, Illinois, or in the City of N ew Y ork, N ew Y ork , at the option o f the holder. Section 4 E xecution of Bonds. T h e President of said D istrict is hereby authorised and directed to sign all o f said bonds and the Secretary o f said D istrict is hereby authorized and d " e t e d to attest said bonds and to affix thereto the official seal o f the District. T h e President and Secretary o f said D istrict are hereby authorized and directed to sign the interest coupons of said bonds b y their printed, lithographed or engraved facsim ile signatures. 2