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* Regular monthly meeting of Board of Directors, Las Vegas Lana and Water Company, was held in the Company's principal office in the Union Pacific Building, 422 West 6th Street, Los Angeles, Califor­nia, at llsCfO A. M., Tuesday, December 13, i960. Present t Lee S. Osborne J, W. Padden W. H. Johnson Edward C. Renwlck T, E. Hammill Absent s A. E. Stoddard sided, Vice President Osborne called the meeting to order and pre­Mlnutes of meeting of Board of Directors held November 15, i960, were read and approved. On motion duly seconded, it was RESOLVED, that the action of Vice President Hicks and Assistant Secretary Cope in executing LVL&W LS Deed Audit No. 5768, dated October 31, I960, whereby Las Vegas Land and Water Company con­veyed to Pacific Electric Railway Cpmpany, parcel of land situated in City of Long Beach, County of Los Angeles, State of California, being portion of the west 94 feet of Farm Lot 95, American Colony Tract5 con­sideration $10.00 and other good and valuable consideration; EXCEPTING AND RESERVING unto Grantor; A H minerals and mineral rights, including oil and gas and rights thereto, without right of entry; and said property is conveyed, subject to; (a) Taxes for the fiscal year 1960-1961; 1