Minutes 05/16/1975 - Laserfiche WebLink

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2 FRIDAY MAY 16, 1975 .- A special and duly-called meeting of the Council of the City of Martinsville, Virginia, with Mayor Harry L. Boaz presiding, was held Friday, May 16, 1975, in the Council Chamber, City Hall, beginning at 3:00 P. M., for the purpose of conducting a "work-session" on a budget for the City for the fiscal year ending June 30, 1976. All members of Council were present, viz., Harry L. Boaz, Mayor; William D. Hobson, Vice Mayor; G. S. Fitz-Hugh, Jr.; Barry A. Greene; and Morton W. Lester. After the invocation, Mayor Boaz stated the purpose of this special meeting, following which City Manager Noland presented a tentative budget (summary) which projected 1975-76 expenditures at approximately $1,000,000.00 in excess of anticipated revenue, pointing out that decreases in income from sales taxes and business license taxes (from 1974-75 estimates and projected income from these sources) have been reflected in said income estimates because of the current "down-turn" in the economy. City Manager Noland then pointed out that the tentative 1975-76 budget anticipates effecting by the City of increased electric tariffs or rates to parallel increased tariff charges or rates recently approved for Appalachian Power Company by the State Corporation Commission although Mr. Robert I. Corekin, Director of the Electric Department, by memorandum dated May 5, 1975 and, also, in person, recommended that the City's electric rates be less than the recently-approved rates allowed Appalachian Power Company, for reasons set forth in said memorandum. During the general discussion of this subject, reference was made to Councilman Greene's memorandum dated May 13, 1975 in which he compared