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<br />t' /-, <br />l,. ~< <br />.:.i.U <br /> <br />TUESDAY <br /> <br />JUNE 10, 1975 <br /> <br />The regular semi-monthly meeting of the Council of the City of Martinsville, <br /> <br />Virginia, with Mayor Harry L. Boaz presiding, was held Tuesday, June 10, <br /> <br />1975, in the Council Chamber, City Hall, beginning at 7:30 P.M., all members <br /> <br />being present, viz., Harry L. Boaz, Mayor; William D. Hobson, Vice Mayor; <br /> <br />G. S. Fitz-Hugh, Jr.; Barry A. Greene; and Morton W. Lester. <br /> <br />After the invocation, Council approved--as recorded--the minutes of its <br /> <br />regular meeting held May 27, 1975 and of its special meetings held June 2, <br /> <br />1975 and June 6, 1975, with corrections as noted in the June 6th minutes, <br /> <br />pages 46 and 47 of Council Minute Book No. 21. <br /> <br />City Manager Noland called Council's attention to the fact that the <br /> <br />required public hearing on the City's proposed 1975-76 budget has been <br /> <br />scheduled for Thursday, June 19, 1975, in City Hall, beginning at 7:30 P.M., <br /> <br />with due notice thereof being published. <br /> <br />Mr. R. M. Simmons, Jr., President of American Furniture Company, Inc., (i.e., <br /> <br />"American of Martinsville"), in person, brought to Council's attention the <br /> <br />fact that, with a revised and/or new assessment policy instituted by the <br /> <br />City's Commissioner of the Revenue for 1975 on machinery and tools (i.e., <br /> <br />plant equipment), the taxable value of this tax category throughout the City <br /> <br />has increased 110%; and, in American's case, 134%; thus, with the City's <br /> <br />preliminary 1975-76 budget reflecting this increased valuation at the current <br /> <br />rate of $2.25 per one hundred dollars of assessed valuation, American's local <br /> <br />tax bill for 1975-76 will be increased by some $40,000.00 and similar taxes <br />