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<br />f74
<br />
<br />TUESDAY JUNE 13. 1967
<br /> Contributions
<br /> and
<br /> Appropriations Direct Transfers
<br />General Fund 2,307,861 .38 4,271,427.74 1,963,566.36
<br />Prison Fund 91,340.00 91,340.00
<br />v. p. A. Fund 213,852.00 ( 213,852.00)
<br />School Fund 2,637,721.50 (2,637,721.50)
<br />Cafeteria Fund 227,760.00 227,760.00
<br />Textbook Fund 50,000.00 50,000.00
<br />Stores Fund 34,381 .00 100.00 34,281 .00)
<br />Electric Fund 1,339,501.50 1,914,100.00 574,598.50
<br />Water Fund 399,870.00 399,870.00
<br />Sewer Fund 344.100.00 344.100.00
<br />TOTALS : 7,646.387.38 7.646. 387ill
<br />
<br />M~. Lawrence B. Wales, Vice President of Wheat & Company, Inc., financial
<br />
<br />advisors to the City, presented the following offer--which Council unanimously
<br />
<br />accepted--for the purchase of $550,000 of the City's sewer bonds (authorized
<br />
<br />but unissued), identified as "Series B" to be dated March 1 , 1967:
<br />,
<br /> $ 50,000 due March 1 , 1969 at 3.50%
<br /> $100,000 due March 1 , 1970 at 3.50%
<br /> $100,000 due March 1 , 1971 at 3.50%
<br /> $100,000 due March 1 , 1972 at 3 . 50 %
<br /> $100,000 due March 1 , 1973 at 3.50%
<br /> $100,000 due March 1 , 1974 at 3.50%
<br />
<br />We will pay Five Hundred Fifty Thousand, One Hundred Twenty-Five and
<br />No/100 Dollars ($550,125.00), plus accrued interest from the date of
<br />the bonds to the date of delivery.
<br />
<br />The bonds will carry the legal opinion of Reed, Hoyt, Washburn &
<br />McCarthy and we will be furnished the usual closing papers.
<br />
<br />In connection therewith, and in acceptance of the foregoing offer, Councilman
<br />
<br />West introduced a resolution entitled "A Resolution Providing for the Issuance
<br />
<br />of $1,200,000 Sewer Bonds of the City of Martinsvillell, as prepared by the
<br />
<br />City's bond attorneys, and moved that it be adopted. Councilman Boaz seconded
<br />
<br />the motion and the motion was adopted, Messrs. Renick, Stone, Boaz, Hartford,
<br />
<br />and West voting for the resolution and no one voting against it. The
<br />
<br />resolution was read in its entirety and is as follows:
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