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C D. X/o. /I i *2 - / •mm MmwKMwmh m m m rn f, m m tin® / £ - Ifr u '.* - * l$5fe* fey H M H l & S A i m » T o i m r m r T t s le s s e e * m m ® t m i f m r a ilr o a d COMPANY, m m c o rp o ra tio n s, LMf VISAS M 1 P w KAHR tfiftfA lff * % thread* c o rp o ra tio n { h e re in a fte r c o lle c t iv e ly c a lle d " F ir s t P a r t ie s * ). H L M VISAS v a l l e y m t m M T ftIC f* a p u b lic c o rp o ra tio n e re c te d ai#, # i l § f lj i § pursuant bo the p re v is io n s # f C hapter 167 s f the IpVf S tatute® o f ie v ad e a® amended fey Chapter 130 o f th e i p # S ta tu te s # f Nevada and as attended by C hapter 307 o f the I f S l S ta tu te s # f Mevada, % c e »d P a rty (h e r e in a ft e r somstis&ss c e lle d ’’D is t r ic t 1)* An agreement was h e re to fo re en tered in to by ? between the F ir s t P a rtie s and the D is t r ic t under d ate e f June 1 , 1953# s a id agreement in g e n e ra l p ro v id in g f a r the s a le to th e D is t r ic t o f c e rt a in r e a l p roperty# w a ter r ig h t s and w ater p ro d u ctio n , sto ra g e and tran sm issio n f a c i l i t i e s lo c a te d in th e C ity o f Las Vegas# Recede* in Septem ber 30# 1953* a s p e c ia l bond e le c tio n was h eld in s a id D is t r ic t a t which th e e le c t o r s a u th o rised th e issu an ce o f $i#?00#§§0 o f bonds o f s a id D is t r ic t f o r the purpose o f c a rry in g ou t s a id agreement o f June 1# 1953# and f o r o th e r purposes o f th e D is t r ic t * th e D is t r ic t i s a t S recen t d ilig e n t ly ta k in g th e n ecessary ste p s to c e i l s a id ends a t the e a r lie s t p r a c tic a b le tim e t # p ro v id e th e funds n ecessary f o r c a rry in g out s a id agreement o f June 1 , 1933# S e ctio n lb o f s a id agreement o f June 1# 1953# among o th e r th in gs# p ro v id e s th a t i f th e D is t r ic t s h a ll have f a i l e d to s e l l s a id bonds by December 31# 1953# then a t any tim e a ft e r December 31# 1933# s a id agreement nay be term in ated e it h e r fey the F ir s t P a rtie s o r by the D is t r ic t # a ft e r h avin g g iv en the o th e r p a rty th e re to not le s s than n in ety (9 0 ) c a le n d a r days* n o tic e o f in te n tio n to term inate M eitn er o f the p a r t ie s h ereto has to the p re se n t d ate given n o tic e o f term in atio n o f s a id agreem ent* The D is t r ic t and the F ir s t F o rtie s a re o f the o p in io n th a t I t i s to the in t e r e s t e f both o f s a id p a r t ie s th a t s a id bonds be s u c c e s s fu lly s o ld a t the e a r lie s t oppor­tu n ity * F o r th a t purpose i t I s n ecessary th a t p ro sp e c tiv e bond p u rch asers fee assu red th a t s a id agreem ent o f June 1# 1953# i s not su b je c t to term in ation fey e it h e r p arty th e re to feefere th e award and s a le o f s a id bends*