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<br />:3- <br /> <br />TUESDAY <br /> <br />MAY 9, 1972 <br /> <br />of borrowing from the Literary Fund $325,000.00 for the new school <br />building (or for adding to or improving the present school building) <br />at Martinsville, to be paid in 15 annual installments, and the interest <br />thereon at three per cent paid annually; now, therefore, <br /> <br />BE IT RESOLVED by the Council of the City of Martinsville, Virginia, <br />this ninth day of May, 1972, that the application of the City School <br />Board to the State Board of Education of Virginia for a loan of <br />$325,000.00 from the Literary Fund is hereby approved, and authority <br />is hereby granted the said City School Board to borrow the said amount <br />for the purpose set out in said application. <br /> <br />F^-. <br /> <br />The Council of said City will each year during the life of this loan, <br />at the time they fix the regular levies, fix a rate of levy for schools <br />or make a cash appropriation sufficient for operation expenses and to <br />pay this loan in annual installments and the interest thereon, as <br />required by law regulating loans from the Literary Fund. <br /> <br />Mr. Leroy Cobb, newly-appointed Civil Defense Planner and staff member of the <br /> <br />West Piedmont Planning District Commission, appeared before Council and <br /> <br />presented an outline of the organizational structure and cost of a proposed <br /> <br />civil defense program on a trial basis of one year. City Manager Noland <br /> <br />informed Council that he has this matter under study and will present his report <br /> <br />thereon for Council's consideration during its forthcoming study of the <br /> <br />Manager's proposed City budget for 1972-73. <br /> <br />Mr. James E. Price, Advisory Board President of the Patrick-Henry Mental <br /> <br />Hygiene Clinic and psychologist in the Martinsville City School System, appeared <br /> <br />before Council--along with other representatives of the Clinic--and presented <br /> <br />the Clinic's proposed 1972-73 budget, of which the City's pro-rated share will <br /> <br />be $1,786.83 after taking credit for current carry-over funds; whereupon, <br /> <br />Council unanimously agreed to assume said share which City Manager Noland <br /> <br />reported that he has included in his soon-to-be presented proposed 1972-73 <br /> <br />Ci ty budge t. <br />