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<br />TUESDAY
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<br />JUNE 12, 1979
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<br />The regular semi-monthly meeting of the Council of the City of Martinsville, Virginia,
<br />
<br />with Mayor William D. Hobson presiding, was held Tuesday, June 12, 1979, in the Council
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<br />Chamber, City Hall, beginning at 7:30 P.M., all members--with the exception of Councilman
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<br />Francis T. West, who was away from the City--being present, viz., William D. Hobson,
<br />
<br />Mayor; William C. Cole, Jr., Vice Mayor; Barry A. Greene; and L. D. Oakes.
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<br />After the invocation, Council approved--as recorded--the minutes of its special meeting
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<br />held May 17, 1979, and of its regular meeting held May 22, 1979.
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<br />Pursuant to duly-advertised public notice, Council conducted a public hearing on the City
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<br />Manager's proposed budget, as subsequently revised by Council, for the fiscal year ending
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<br />June 30, 1980. There being no suggestions and/or objections registered by any citizen and
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<br />there being no further revisions by members of Council to said proposed budget (as revised),
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<br />Council unanimously adopted said proposed budget (as revised), including the establishing
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<br />of a 99C real estate tax rate for 1979-80, of which the following adopted appropriation
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<br />ordinance is a summary:
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<br />AN ORDINANCE MAKING APPROPRIATIONS OF SUMS OF MONEY FOR ALL NECESSARY
<br />EXPENDITURES OF THE CITY OF MARTINSVILLE, VIRGINIA, FOR ITS FISCAL YEAR
<br />ENDING JUNE 30, 1980.
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<br />BE IT ORDAINED by the Council of the City of Martinsville, Virginia,
<br />that the following sums of money be and are hereby appropriated--by
<br />funds--for the fiscal year ending June 30, 1980, from fund sources
<br />of estimated revenue, as follows:
<br />
<br /> REVENUE
<br /> Appropriations Direct Transfers
<br />Anticipated Balance at
<br />July 1, 1979: $ $ 866,490.46 $ 866,490.46
<br />General Fund 12,143,898.46 10,981,861.00 ( 1,162,037.46)
<br />Electric Fund 6,153,231.00 6,571,950.00 418,719.00
<br />Water Fund 623,420.00 624,920.00 1,500.00
<br />Sewer Fund 783,000.00 781,500.00 ( 1,500.00)
<br />Revenue Sharing Fund 472,500.00 444,500.00 ( 28,000.00)
<br />Stores Fund 95,172.00 ( 95,172.00)
<br />TOTALS: $20,271,221.46 $20,271,221.46 $
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