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PROPOSED OFFICIAL STATEMENT respecting $ 8 ,7 0 0 ,0 0 0 Waterworks Bonds, 1 9 5 4 of the LAS VEGAS VALLEY W ATER DISTRICT Clark County, Nevada T his is the Official Statement o f the Las V egas V alley W ater D istrict prepared to be used in the sale o f the bonds herein described. T h e B on d s: $8,700,000 W aterw orks Bonds, 1954, issued pursuant to Chapter 167, Statutes o f N evada 1947, as amended and supplemented. T h e bonds are general obligations of the Las V egas V alley W ater District, for the paym ent of w hich the full faith, credit and resources o f the D istrict are pledged. T he bonds are dated M arch 1, 1954, mature from 1957 to 1990, inclusive, and bear interest payable annually for the first year and sem i-annually thereafter. T he bonds maturing on or after M arch 1, 1965, are callable in inverse num erical order, at 100)4% plus )4% for each tw elve-m onth period or fraction thereof to date o f maturity, but not to exceed 105%, as follow s: Bonds m aturing M arch 1, 1990, are callable on M arch 1, 1959, or on any subsequent interest date (but m ay not be called from proceeds of. refunding bonds prior to M arch 1, 1964). Bonds maturing on or after M arch 1, 1965, are callable on M arch 1, 1964, or on any subsequent interest date. T A B L E O F IN T E R E S T R A T E Bond Numbers (Inclusive) Maturity Date Interest Rate 1- 100.......................................... M arch 1, 1957 101- 205.......................................... M arch 1, 1958 206- 315.................................... M arch 1, 1959 316- 430.......................................... M arch 1, 1960 431- 555....................... M arch 1, 1961 556- 685................................ M arch 1, 1962 686- 820.......................................... M arch 1, 1963 82 L : 960........ M arch 1, 1964 961-1110................................... M arch 1, 1965 1111-1265............ M arch 1, 1966 1266-1425...............................................M arch 1, 1967 1426-1595........................................: M arch 1, 1968 1596-1775.......................................... M arch 1, 1969 1776-1960....... M arch 1, 1970 1961-2155........... M arch 1, 1971 2156-2360........................... M arch 1, 1972 2361-2575.......................................... M arch 1, 1973 2576-2800.......... M arch 1, 1974 2801-3035.........— ...............— ......... M arch 1, 1975 3036-3280.......................................... M arch 1, 1976 3281-3540...... M arch 1, 1977 3541-3810 .........: M arch 1, 1978 3811-4095.................................. M arch 1, 1979 4096-4390.......................................... M arch 1, 1980 4391-4700.......................................... M arch 1, 1981 4701-5025..................................... M arch 1, 1982 5026-5365............... „ ........................ M arch 1, 1983 5366-5720.......................................... M arch 1, 1984 1 T A B L E O F IN T E R E S T R A T E (C ontinued) Bond Numbers (Inclusive) Maturity Date Interest Rate 5721-6095...................................... M arch 1, 1985 6096-6485.......... M arch 1, 1986 6486-6895.......... v......(.ll'J..'v____ _ M arch 1, 1987 6896-7325....................................jjJJ M arch 1, 1988 7326-7775.......................................... M arch 1, 1989 7776-8700.............................. M arch 1, 1990 T a x E xem p tion: In the opinion of O ’M elveny & M yers, L os A ngeles, California, bond counsel for the Las V egas V alley W ater D istrict, interest on the said bonds is exem pt from taxation by the U nited States of Am erica under present federal incom e tax laws. L egal O pinion: A ll o f the proceedings in connection w ith these bonds are subject to the approval of Messrs. O ’M elveny & M yers, o f L os A ngeles, California. T h e unqualified opinion o f said attorneys approving the bonds as to legality w ill be furnished to the purchasers at the tim e of delivery of the bonds. L o c a tio n : T h e Las V egas V alley W ater D istrict is located in Clark County in southern N evada about 240 air line miles northeast of L os A ngeles. It covers an area of 196,480 acres (307 square miles) and has an estim ated population o f 66,000. T he D istrict com prises the incorporated cities of Las V egas, N orth Las V egas and H enderson, the tow ns o f V egas H eights, Paradise, W inchester, W h itn ey and Pittman, and a large adjacent area, including several unincorporated residential areas. T he Nellis A ir F orce Base is also within the boundaries o f the D istrict. Altitudes range generally from 1500 feet to 2300 feet, with an average o f 2000 feet at Las V egas. T h e D istrict is traversed b y U . S. H ighw ays 91, 93, 95 and 466 and the U nion Pacific Railroad, and is served b y T .W .A ., U nited, W estern and Bonanza air lines. C lim ate: T he Las V egas V alley is semi-arid, with a typical desert climate. T h e average annual rainfall is 4.35 inches. T h e annual average temperature is 66.8 degrees F, and daily variation is great. V ariations between mean m onthly maxim um and mean m onthly minimum are about 27 degrees. L A S V E G A S M E A N T E M P E R A T U R E S A N D R A IN F A L L Jan. Feb. Mar. Apr. M ay Jun. Jul. A ug. Sep. Oct. N ov. D ec. Y ear M ean D aily M axim um (° F ) 55.4 62.1 68.9 78.6 87.9 98.9 105.4 103.3 96.2 81.7 67.1 58.1 80.3 M ean D aily M inim um (° F ) 33.0 38.6 44.0 52.6 60.2 68.2 75.6 73.5 65.1 53.0 40.6 35.5 53.3 D aily M ean (° F ) 44.2 50.4 56.5 65.6 74.1 83.6 90.5 88.4 80.7 67.4 53.9 46.5 66.8 M ean Precipita-tion (inches) 0.44- 0.58 0.35 0.24 0.16 0.13 0.46 0.53 0.34 0.32 0.22 0.58 4.35 G e o lo g y : T he V alley is surrounded b y hills and mountains, but has flood drainage to the C olorado River. T he V alley is com posed o f alluvial fill, including alluvial gravels, sand, silt, clay, and caliche. T he gravels and sands are the principal w ater-bearing strata and w ater contained therein is largely confined b y beds of silt and clay. Near surface water occurs over m ost o f the valley, ranging from zero to 50 feet below the surface. R elatively thick lenses o f w ater-bearing sands and gravels occur underneath a clay layer at from 380 to 450 feet below the surface. 2