Minutes 10/10/2000 - Laserfiche WebLink

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October 10, 2000 increase; it is revenue-neutral. Mayor Crabtree declared the Public Hearing open. With no response, he declared the Public Hearing closed. Vice Mayor Teague moved to adopt the Ordinance on first reading; the motion was duly seconded and carried by the following vote, with all members voting: Vote 5 - 0; Yeas (5) - Crabtree, Dallas, Ferrill, Roop, Teague; Nays (0) - None. Council considered an Ordinance authorizing the issuance of up to $3,100,000 maximum principal amount of a Solid Waste Revenue Bond for purposes of assisting in improvements to the City Landfill, and providing for the form, details, and payment thereof. Earl B. Reynolds, Jr., City Manager, stated, "This project would provide partial closing of the landfill, replacement of the pipe network and storm management, and grading of a future transfer station. We have sufficient funds to underwrite the project. However, the Virginia Resources Authority has offered a five-year option to pay and receive arbitrage. SunTrust Bank has provided an interim note." Vice Mayor Teague stated, "lt's proven by' the balance sheet that the money's in the bank.. We will earn more money by borrowing the project expense." Mayor Crabtree declared the Public Hearing open. With no response, he declared the Public Hearing closed. Vice Mayor Teague moved to adopt the Ordinance [Attachment A], on emergency basis; the motion was duly seconded and carried by the following vote, with all members voting: Vote 5 - 0; Yeas (5) - Crabtree, Dallas, Ferrill, 'Roop, Teague; Nays (0) - None. Council considered authorizing the City Treasurer to refund $1,569.68 to Nelson Pontiac Buick GMC due to overpayment of taxes for the tax years 1997 and 1998. Ronnie Minter, Commissioner of the Revenue, stated, "Auto dealers are allowed to subtract trade-ins from gross sales tax. The former accountant didn't know it; the new