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D irect and O verlapping D eb t: Clark C ounty..................................... ......... ..................... Educational D istrict N o. 2......................................... H enderson School D istrict.......................................... Las V egas Grammar School D istrict N o. 12..... Paradise School D istrict.............................................. City o f Las V eg a s...............„.......L.L........................... City Special Assessm ent B onds............................... L o a n s : Clark C ounty................................................... Educational D istrict N o. 2........................ Gramm ar School D istricts......................... T O T A L O V E R L A P P I N G D E B T ................ Las V ega s V alley W a ter D istrict (to be sold) T O T A L G R O S S D IR E C T A N D O V E R L A P P I N G D E B T ............................1 % Applicable 81.720% 89.460 100. 100. 100. 100. 100. 81.720 89.460 100. Debt M arch 26, 1954 $ 1,053,371 2,110,361 560.000 2,602,000 492.000 1.879.000 948,219 89,892 3,578 28,600 $ 9,767,021 8.700.000 $18,467,021 Ratios to assessed valuation ($80,081,742): Per capita (estimated population 66,000): O verlapping D e b t ................................ 12.20% A ssessed Valuation .......... ................... $1,213 D irect D ebt .............. ............................ 10.86% O verlapping D e b t .............. ................... $ 148 T otal Gross D irect and D irect D ebt ......................... ................... $ 132 O verlapping D e b t ........................... 23.06% T otal Gross D irect and O verlapping D e b t .......... ................... $ 280 A uthorized and U nsold B on d s: L.V.V.W .D.'s Share Educational D istrict (2 ...................... .......................... $2,500,000 $2,236,500 Las V egas Grammar School D istrict #12....... .......................... 1,750,000 1,750,000 City o f N orth Las V eg a s................. .......................... 260,000 260,000 Pending Issues: City of Las Vegasi (sew age disposal p la n t)............................. $800,000 Management: T h e governing b od y o f the Las V egas V alley W a ter D istrict is the Board of Directors. Seven directors are elected to office b y the duly registered voters of the seven areas within the District. T he directors select a President, V ice-P resident, Secretary and Treasurer. T he directors are elected for four years, and their terms o f service overlap. T he electors must be owners of real property within the boundaries o f the District. R ecently one o f the directors has been tem porarily acting as general manager. T h e Board is currently seeking the em ploym ent o f a permanent general m anager w h o is qualified and experienced in water utility managem ent, engineering, operation and accounting. T h e Board is prepared to pay a salary com m ensurate with the responsibilities o f the position and adequate to attract a man o f proven ability. A num ber o f applications have been and are continuing to be received. It is anticipated that an appointm ent w ill be made before the award o f the bonds. A ccou n tan ts: T h e D istrict has em ployed the accounting firm o f H askins & Sells to set up the D istrict’s books of record and account and to establish its accounting and billing procedures. T h e local accountant w ho will advise the D istrict from tim e to tim e and w ho will make any examinations or reports required by an independent certified public accountant will be the firm o f Conway, M oe, H ibbs & Funston, Las V egas, Nevada. 2 7 Engineering Reports: Copies o f the March, 1954, reports of the D istrict’s consulting engineers, James M. M ontgom ery of Pasadena, California, and Black & V eatch of Kansas City, M issouri, are available to interested bidders upon request. Requests should be m ade to : (1) H arry E. M iller, Secretary, Las V egas V alley W ater District, 900 South Fifth Street, Las V egas, Nev. (2) James M . M ontgom ery, 15 N. Oakland Avenue, Pasadena 1, Calif. (3) Black & Veatch, 4706 Broadw ay, Kansas City 2, M o. General Statement: T h e inform ation contained in this statement has been prepared b y California M unicipal Statistics, Inc., under the supervision o f O ’M elveny & M yers, in collaboration w ith the Board of D irectors of the Las V egas V alley W ater D istrict. W h ile this inform ation is not guaranteed, it has been com piled from sources w e believe to be reliable. So far as any statements in this Official Statement involve matters of opinion w hether or not expressly so stated, they are intended m erely as such and not as representations o f fact. N either this Official Statement nor any statement which m ay have been made orally or in w riting is to be construed as a contract with the purchasers o f any o f the bonds to be presently issued. A ll statements herein are made as o f A pril 2, 1954, the date of approval of this docum ent as a Proposed Official Statement, except (1) interest rates on the bonds, w hich are made as o f the date of adoption of this Official Statement in final form , and (2) statistical inform ation and other statements where som e other date is indicated by the context. 28