Minutes 04/26/1966 - Laserfiche WebLink

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4l APRIL 26, 1966 TUESDAY Road. Council also directed that a duly-advertised public hearing on this petition be held by Council at a special meeting to be held in the Council Chamber, City Hall, Tuesday, May 17, 1966, at 7 :30 P.M. Because of his having been appointed Judge of the City's new Corporation Court, effective May 1, 1966, Mr. Frank I. Richardson, Jr., submitted his resignation (effective April 26, 1966) as a member of the City School Board. In accepting this resignation, Council commended Mr. Richardson for his outstanding service to the City as a member of the School Board. Council continued to its next regular meeting a study and review of the City's proposed utility attachment agreement with Clearview Cable Television Company, h8lder of the recently-awarded franchise to operate a CATV system in Martinsville. In anticipation of the offering for sale the remaining $1,200,000.00 Sewer Bonds (authorized March 1, 1960) within the next several months, Council adopted the following resolution authorizing the borrowing of funds from local banks to continue the City's sewerage system construction program on schedule: WHEREAS, there remains unissued the amount of $1,200,000.00 from a total of $2,500,000.00 City of Martinsville Sewer Bonds authorized by a referendum duly held March 1, 1960, to finance a portion of the cost of constructing and completing a sewerage system for the City of Martinsville; and WHEREAS, it is deemed advisable by the Council of the City of Martinsville to withhold, for the time being, the offering for sale of said remaining $1,200,000.00 Sewer Bonds; and WHEREAS, in order to continue the sewerage system construction program it is necessary that funds be made available on a temporary basis, in anticipation of the selling of said bonds; now, therefore,