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TUESDAY, Scotember 26. 2000
<br />Council considered adoption, on an emergency basis, of an Ordinance setting a Public Hearing for October
<br />
<br />10, 2000, on the issuance of up to $3,100,000 principal amount of a Solid Waste Revenue Bond of the City of
<br />Martinsville and setting forth the purpose, in general terms, for which the Bondis to be issued, the maximum
<br />amount of the Bond to be issued and the maximum length of time such Bond will be outstanding. City
<br />Manger Reynolds explained that the Ordinance was adopted by Council on September 26, 2000. Council
<br />Member Teague stated that the City is better officially to initiate the project than to use City cash funds.
<br />Mr. Reynolds said that the City will know the exact interest rate for the debt on November 7, 2000, but the
<br />rate will be cheaper than the City paying for the project with accumulated cash. Council moved upon motion
<br />duly seconded, with all members voting: Vote 4-0; Yeas (4)- Crabtree, Teague, Dallas, and Roop; Nays (0)-
<br />None; Absent (1) - Fenill, to set the Public Hearing for October 10, 2000.
<br />
<br />Council considered adoption of a Resolution of Support for Speedfest 2000. The event, to be held uptown
<br />from September 29-30 will feature crafts, music, food, appearances by Nascar drivers, and live entertainment.
<br />Council moved upon motion duly seconded, with all members voting: Vote 4-0; Yeas (4)- Crabtree, Teague,
<br />Dallas, and Roop; Nays (0)- None; Absent (1) - Fenill, the Resolution of Support as included in the Minutes.
<br />
<br /> RESOLUTION OF SUPPORT
<br /> SPEEDFEST 2000
<br /> Martinsville-Henry County Chamber of Commerce,
<br /> Martinsvi!le Jaycees, Inc~, Martinsvi!le Uptown Revitalization Association,
<br /> Partnership For Progress, Checkered Flag Sports, and Coca-Cola
<br />
<br />WHEREAS, Martinsville-Hemy County Chamber of Commerce, Martinsville Jaycees, Inc., Martinsville Uptown
<br />Revitaliz~on Association, Partnership for Progress, Checkered Flag Sports, and Coca-Cola are the major sponsors of Speed
<br />Fest 2000; and
<br />
<br />V~tEREAS, Martinsville-Henry County Chamber of Commerce, Martinsville. Jaycees, Inc., MartinsviHe Uptown
<br />Revimlization Association, Partnership for Progress, Checkered Flag Sports, and Coca-Cola spent many hours of time and
<br />effort to plan and conduct Speed Fest 2000; and
<br />
<br />WHEREAS, the festival conducted by Martinsville~Henry County Chamber of Connnerce, Martinsville Jaycees, Inc.,
<br />Martinsville Uptown Revitalization Assoration, Partnership for Progress, Checkered Flag Sports, and Coca-Cola will attract
<br />approximately 35,000 visitors to Uptown Martinsville, creating good will, future visitors and retail customers, and helping to
<br />promote our v~s'itors and tourism initiative; and
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