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/ Officers a n d D irectors THOMAS A. CAMPBELL P R E S I D E N T SPENCER L BUTTERFIELD V I C K P R C 8 I D K N T WILLIAM COULTHARD SECY -TREAS, HARRY E. MILLER E. OTTO UNDERHILL JAMES CASHMAN JOHN BUNCH LAS VEGAS VALLEY WATER DISTRICT 9 0 0 SOU TH 5TH S T R E E T LAS VEGAS, N E V A D A T e l e p h o n e 5 9 2 0 December 15th, 1951. HOWARD F. CLARK C H I E F E N G I N E E R A N D M A N A G E R P. O, B O X 1448 MEMO TO T.A.C. EE: J. M. MONTGOMERY & CO., INC. SERVICES. FROM: HFC. Engagement: As I recall it, the firm of Mr. Coghlan’s was asked for a price to do the following: 1. Make independent check of HFC's valuation. 2* Enter into round table negotiations for fixing a price for the utility. For this they added Mr. Bowen, as consultant. 3» Check the District's engineer*s items of cost for the project to be bonded. 4» Assist, or otherwise, enter into setting of a new rate schedule to raise revenues to support bond issue burden. Comments of H.F.C. on above items and status thereof. As to No. 1- valuation. Herewith is their valuation report for inventory as of Dec. 31, 1950. It needs no comment, as it was a close check on HFC. No further work on it, except to add the additional inventory items Bennett spoke of, bringing valuation to date, ^his could be done in 2 days, by simply changing quantities to include the additions (mostly pipe) As to No. 2. Negotiations: With Bowen, they will need considerable review of their work, and posting of the consultant to argue everything but inventory. Bowen says11 never buy on inventory. n Come to a price on what utility pays out. As to No. 3* Estimate of construction, etc., for which bond money, if voted, will be used. This is yet quite remote. As to No. 4. This is something you disagree with me on, if past conversations are correct. At the Water Works Convention I asked several engineers about it. Got free advice. All (Said to add a percentage to existing rates. Even this was what the P.S.C. did at Carson City- using 10$, with some adjustment as to former inequities (motels, etc.) I was informed recently by visiting engineers to the late convention that they understand in L.A. that Coghlan considers his firm engaged for District’s work. H.F.C.