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^ y y w^fluniaR^ ^ ^ g HenSHHHVIPHHH| egos' Lake M ead Supply I 1 S 'M M i ^ m ilestone in th e devel-p m en t and progress o f th e ren ter Las V eg as V a lle y | J H | i-orea was reached shortly ! “ ; ?' ? j b e fo re noon to d ay w hen o f- I f i M l ^ i ° f *h e w a te r districts I *1111 '! -^fo rm ally received bids f o r I f f l M t h e s a l e o f $ 8 ,7 0 0 ,0 0 0 b f « H M - — in ? 1 W m m if: w h »•&l&f . ? wm, [w o rth o f bonds to assure w a­te r fro m L a k e M e a d fo r th e .(expanding section. B R | Unofficially, it was reported that the lowest of three bids was sub-il Emitted by Ira Haupt and Asso-i elates of New York, proposing a i*. pin-chase of all the bonds with graduated scales of interest rates !<?>?' estimated at slightly, less than four ^ ? r cent over a 46-year period. Other Offers H a flat four and one-half per eent f J fterest rate was offered by F ? i^ lield s and Company of New York, i *14 cooperation with the First Cali- IK ^ jS u ia Co. of Las Vegas and Cali-f Tgrnia, the John Nuveen Co. of Los j^^H hgeles, offered to purchase the ‘ bflnds on a scale ranging from four ' ''and one-half to three and eight- * "tilths interest., ^ ^^H Jistrict Engineer J. M. Mont- ; ’ gbmery said $2,500,000 would be | paid to -the Las Vegas Land and | Water Co., present owners of the H 'utility, and $5,000,000 (approximate-f - ’ilyi for §jgp construction of the Las jjlijfii |g a s—North Las Vegas—Strip | ‘Clines which will be diverted from a $ • main booster station at the Man­ganese, Inc., mine, near Lake iJead. ? Actual completion of the line which- will have a ,14,000,000-gal-ftn- per-day Capacity, can be ex- ------ . B H W H B B W B B , _ _ . . . . . . . pected at the end-of 1955, t^fe^as p--district’# bonding attorneys, leTtf Dheet<^KiJam4?s Cashm an is ? shown’V} ...I ? p p g |gg| jlg l i i i i i i mm §§ - A i K l l ? IXSlSMm WATER BONDS SOLD!—President Tom Campbell, center, and members of the Las Vegas Valley..,; Water district received bids today for the sale of the district’s $8,700,000 bond issue. ParticipatiigJ0| in the proceedings were Harry. Miller, district secretary, right, and Franklin Hamilton, one of tl ?gineer said. Present Consumption^! ? (Present water consumptieh^in the Las Vegas area was placed at f r o m 6,000,000'gallons daily to a summer peak load of 22,000,- 000. Two additional wells capable HP a 5,000,000 daily production rlite are expected to be brought into operation early this summer), ? o ffic ia ls of the water district were expected to meet until later W this afternoon, discussing the bondjj proposals and computing the ex-Y act interest rates, before formal i j acceptance- is confirmed. Montgomery explained t h a t part of the bond issue funds would be used to pay attorneys’ fees, interest, debt retirement and oth­er incidentals in the amount of al­most $1,200,000. 18 Months He added that the 18 months required to complete construction of the pipelines and. laterals was fnade necessary -because.), b lith e iaatoy worl<- and equipment Bids SBjjaes |n a l PH O T ft^ki | § : which' nnfst he lit,'a n d the- time f | l i S P B M B J p H B ® r ^ r a ! 8 n o r a ^ S ! u T m S n S a r i p ilm e s t o n • intersection it . . . i graduates to pipeline measuring 30 and 24 inches in diameter. President Tom Campbell of the water district and six other, of-j ficers of the board of directors! K 1 ture of pipeline and pumps. The Lake Mead 36 inch line will run west from Manganese to a point on the Boulder highway between Whitney and Pittman. From-that point it will be carried to the intersection of Charleston and Fremont where the water will enter twin, 24-inch lines, running through downtown Las Vegas, the strip and North Las Vegas, and terminating at a proposed 30,- V 000,000 gallon reservoir to be cofi-structed one mile north of fie west boundary of Hyde Park. ? The line bisecting Las V ega? Montgomery said, would be laid down Ogden Street or Fremont. The eingineer said Fremont would be the ideal location because the I main thoroughfare does not pre-| sently have a pipeline or fire hy-f dra g s .although if is the focal i point of high property values and; i fire insurance rates. expressed satisfaction with the low rate of interest proposed by] the bidders. The Review - Journal learned J that the district had been pre-l pared to pay ^s, high* as. four and one-hair per cent^Interest,' and! ? considered anything less *th&n foiir per! cent “ excellent.” ? * p W s H Wii mm