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IAS VEGAS REVIEW-JOURNAL Monday, Sept. 19t 1949 McNamee Of Errors In Water Parley Leo A. MeNamee today denied he had any authority to speak for the Las Vegas Land & Water I company on the subject of sale of their distribution facility here ; to the city of Las Vegas when the matter was discussed at a meeting with the city commis­sion last week. “At the conference in ques - tion,” McNamee states, “some­one asked the question: Why doesn’t the city buy the Land and Water company?’ ' “I, as an individual, asked the general question as to whether or not the city was interested in discussing the matter, and ex­pressly stated that I had no au- •hority 'to speak for the water! company. “One of the commissioners j present stated that the city would ! fee. interested if the price was i right. I remarked that I had j read in a paper some months I ago that one. of the Land and Water company officials had made some kind of a statement relative to selling the water com­pany, and one of the commis­sioners remarked that the offi-1 eial’s statement,was only a gen­eral one and that no details had ever been expressed, submitted J or discussd. “Someone then questioned as I to the valuation of the Las Vegas Land & Water company, and' someone else present, not I,I stated that he had seen in a hook- i let where the Land and Water' company was assessed at around $1,200,000. The book value of the company was not mentioned by i anyone. “ There was no plan or any discussion of a plan to name a special committee for the pur-, pose of making an investigation I ©f the feasibility of the project of buying the Land & Water earn- j pany, nor was there any f state­ment, that the company was pre-. pared to send representatives for: the purpose of exploring or dis­cussing the matter. “Since June, 1946, I have not represented the Las Vegas Land & Water company, except on one special occasion which had no j connection with the sale of its i business.” Commissioner R o b e r t T . : Moore said this morning that a committee probably would be ap­pointed Wednesday from among the newly named, citizen’s ad- s visory board to study the pro­posed purchase of the water com­pany’s holdings here and that he felt it was a step in the right direction. Under the provisions of the city charter and the franchise f held by the utility, the property • may not be: sold without the ciy of Las Vegas first being given an opportunity to purchase. ,, „ -----v a— . ........... ? H I