Minutes 09/29/1981 - Laserfiche WebLink

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,<<' () ",J TUESDAY SEPTEMBER 29, 1981 Supervisors' action should they exempt the tax, in which event the Council would con- sider an appropriate exempting ordinance at its forthcoming October 27th meeting, the effective date of which--if adopted--would be in accordance with State statutory requirements. City Manager Edmonds reported that bids have been received for four additional CRT terminals (purchase of which was authorized by Council on July 28, 1981) for the City's data processing system, the lowest of which bids was submitted by Wang Laboratories in the total amount of $10,560.00, whereupon motion, duly seconded and unanimously carried, Council accepted the Wang bid. City Manager Edmonds also reported that The First National Bank of Martinsville & Henry County has submitted the most favorable proposal (of those received) to finance the cost of acquiring and installing the City's data processing system (hardware and software), now essentially completed; whereupon motion, duly seconded, and with Councilmen West and Reed abstaining (because of their business association with this bank), all other members of Council unanimously authorized the acceptance of this proposal, being in the form of a loan in the amount of $202,850.00 at an interest rate of 10.25% per annum for a period of five years, to be repaid in sixty monthly installments of $4,334.98. Council then unanimously authorized City Manager Edmonds to execute, on behalf of the City, the documents necessary thereto. Upon being informed that the City has received the sum of $6,720.00 from the Virginia Department of Highways and Transportation for certain right-of-way along State Route 662 (Clearview Drive) sold by the City to the Highway Department, as authorized by Council on May 26, 1981, and that the City will be required to provide and/or relocate fencing along said right-of-way in connection with the Highway Department's proposed widening-improvement project for said Route 662, Council unanimously appropriated the sum of $2,000.00 therefor. Upon being informed, too, that the City can expect a refund or rebate of $9,300.00 during 1981-82 from the State Health Department against the Martinsville-Henry County Health Unit's 1980-81 operating costs, as compared with the adopted 1981-82 budget estimate of $8,000.00, and at the request of the local Health Department, Council unanimously increased the City's 1981-82 commitment to the Health Department by $750.00. __.<_",...m'_v"___""'~"."_.__ ......-------,-..,-