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% said parties respectively, being lease of said property for the purpose of prospecting and drilling for oil and gas); be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded* it was RESOLVED, that the action of Vice President Strong in executing letter-agreement, dated June 21, 1948, with Nevada Con­struction Company, covering the construction of 970.9 ft. of 8’* V. C. Sanitary Sewer to serve North Main Street Industrial Dis­trict^, Las Vegas, Nevada; consideration $4,798, plus actual cost of premium on Surety Bond; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt and Secretary in executing agreement "N"L.D. 2064, dated July 9, 1948, between LVL&WCo., called "Company”, and W. W. Cantrell, J. G. Griswold and D. B. Woody, as individuals and not as partners, called "Subdivider", providing fort 1 - Subdivider to pay to Company $2,260, being estimated cost of 650 ft. of 6" cast iron pipe to serve Block 17 of Fourteenth Street Addition, Las Vegas, Nevada, commencing at a connection with existing water main at inter­section of Block 18 and Mesquite Ave., thence northerly through Block 17 to an end at Linden Ave.; 2 - Company to refund to Subdivider at monthly Intervals 50$ of monthly revenue received by it from customers in said Block 17 taking water from the water main so installed for a period of ten years from date of completion of said installation, or until Subdivider has been repaid the actual cost of the line so advanced by it, whichever occurs first, which said 50$ of monthly revenue shall be pro-rated among the Subdividers, as follows: •2»