Minutes 04/10/1979 - Laserfiche WebLink

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'n. 8) ~; r'''<d TUESDAY APRIL 10, 1979 After receiving from the City School Board, through its Chairman, Mr. W. K. Putney, Jr., and through Dr. James E. Calkins, School Superintendent, and with the support of the Martinsville Education Association, the School Board's budget requests for the fiscal year ending June 30, 1980, Council unanimously called for a special meeting to be conducted by Council, jointly with the School Board, on Easter Monday, April 16, 1979, in the Council Chamber, City Hall, beginning at 3:00 P.M., for the purpose of giving further consideration to said budget requests. Upon motion, duly seconded and unanimously carried, Council authorized and directed the proceeding with "Phase II-A" of the engineering studies necessary to Council's continuing consideration of the proposed "Ridgeway" hydro-electric project, cost of said studies estimated to be $130,000.00 and to be financed from the Electric Fund's surplus account, with completion of said studies expected within seven months. Meanwhile, Council recommended that study be given to the City's present hydro-electric plant and dam to appraise its equipment and efficiency level and potential. Also, upon motion, duly seconded and unanimously carried, Council accepted Councilman Greene's recommendation that $900,000.00 of Electric funds be set aside in escrow and invested at the best rate of return available to the City, to provide funds pursuant to Councilman Greene's report presented to Council on March 27, 1979. In unanimously accepting the special Park Study Committee's report presented on March 27, 1979, Council also unanimously directed the implementation of the recommendations therein at a revised cost of $56,500.00, $12,325.00 of which is to be absorbed by the Public Works Department in its street budget and the remainder (of $44,175.00) to be financed from the proceeds of the recent sale of City-owned property, on Water Street, to Pannill Knitting Company, Inc., which remaining sum of $44,175.00 Council unanimously appropriated from said proceeds for said purpose.