Minutes 11/13/1979 - Laserfiche WebLink

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{'"' [\ ~ l- <f , TUESDAY NOVEMBER 13, 1979 facility members of Council inspected on the afternoon of November 13th. Meanwhile, after referring to specific exhibits in said Audit Report and the financial conditions of certain funds, Councilman Greene cited the possible need in the near future to increase water and/or sewer rates or tariffs to meet increasing costs, including depreciation expenses to be incorporated in future budgets, pending a study of projected annual income and operating expenses, plus capital expenditure needs, for the next five years, which study and projections are to be conducted and prepared by Assistant City Manager-Public Works Director George W. Brown, with the assistance of Finance Director W. H. Yeaman. To clear up certain financial details, upon motion by Councilman Greene (duly seconded and unanimously carried), Council directed that (I) the appropriate entry be made to clear the General Fund of a loan of $190,OOO.00 from the Electric Fund involving a transaction authorized by Council on November 13, 1962 (see page 86 of Minute Book No. 17), and (2) the General Fund contribute the sum of $8,569.00 to the EDA Fund to erase the deficit of $8,119.00 in that fund at June 30, 1979, and to cover $450.00 expenses incurred since June 30th, inasmuch as the projects for which the EDA fund was established have been completed. Council referred to the Planning Commission, for its consideration and recommendation, an Application for a Special-Use Permit, as filed by the Exchange Club of Martinsville, to allow this organization to continue its sponsorship of the Henry County Fair during the next five years. Council took no action on a matter involving the Martinsville-Henry County Clean Community Commission and this agency's administrative operations. Upon recommendation of City Manager Noland, Council unanimously adopted the following resolution which, pending a duly-advertised public hearing thereon scheduled for Council's