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m 2 fur by the sub«divlders and donated to LVL&W Go0 A statement showing the projects involved is attached| there will be further charges between April 30th and the sale dates Mr0 Conway was Informed It was our view that since the cost of this construction was charged to the investment account pursuant to Buie 9 contracts the cost thereof became an addition to the basic purchase price as defined by Section 9(c) of the sale Contract* regardless of by whom the cost was paid® Mr. Conway was non-committal on this point and said he would let the Water District and their attorneys interpret this matter for him* In this connection* please see your let-* ter to me of March 9* 1954? Mr0 Conway also stated that the signing of the bonds would begin on May S3* 1934 and be completed several days thereafter and that the Water District should receive the proceeds from the bond sale on or before May 51* 1934* Xn connection with this subject* under date of May SI* 1934* you were furnished for escrow purposes statement showing the estimated cost of #3*493*0460111 as representing the sale price of the water properties to the Water District as of June 30, 1934? Mr« Conway further stated that his firm will desire to again meet in las Vegas with our representatives to agree upon the final cost of the water properties* following the date of sale? If the date of sale is established as of June 50* 1954* our records will be available for review about July 39* 1954? X will be represented at the final audit? Xn due course# please advise with respect to the cost of the donated fire hydrant laterals and the date text the final audit of the accounts for the period subsequent to April 50# 1954 Ke M» End'®