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<br />r <br />ell <br /> <br />August 29, 2006 <br /> <br />not to exceed $150,000.00 based on stipulations in the agreement. The <br /> <br />$150,000.00 would come from the sale of the city-owned real property <br /> <br />consisting of 238.366 acres in the Reed Creek District of Henry County. A <br /> <br />draft of the agreement has been sent to Mr. Lester's counsel for review. <br /> <br />Council Member Anderson moved that the city enter into said agreement with <br /> <br />The Lester Group and that the City Manager be authorized to execute the <br /> <br />agreement; the motion was duly seconded and carried by the following vote, <br /> <br />with all members voting: Vote 5-0. Yeas (5) - Reynolds, Clark, Anderson, <br /> <br />Ferrill, Lawson. Nays (0). <br /> <br />Council considered the need to meet in Closed Session. In accordance <br /> <br />with Section 2.1-344 (A) of the Code of Virginia (1950, and as amended) and <br /> <br />upon motion by Council Member Ferrill, duly seconded, and by unanimous <br /> <br />recorded vote, Council convened in Closed Session, for the purpose of <br /> <br />discussing the following matters: Consultation with legal counsel and briefings <br /> <br />by staff members, attorneys or consultants pertaining to specific legal matters <br /> <br />requiring the provision of legal advice by such counsel, as authorized by <br /> <br />Subsection 7 and Section 15.2-2907(D) - negotiation of city-to-town reversion <br /> <br />issues subject to review by Commission on Local Government. <br /> <br />At the conclusion of this Closed Session, each returning member of <br /> <br />Council certified that (1) only public business matters exempt from open <br /> <br />meeting requirements were discussed in said Closed Session; and (2) only <br />