|
<br />WEDNESDAY
<br />
<br />SEPTEMBER 17, 1969
<br />
<br />meeting
<br />The regular semi-monthly/(rescheduled by Council--by meeting held September 9,
<br />
<br />1969--from September 23, 1969 because of conflict with annual Virginia Municipal
<br />
<br />League meeting) of the Council of the City of Martinsville, Virginia, with Mayor
<br />
<br />F. T. Renick, M.D., presiding, was held Wednesday, September 17, 1969, in the
<br />
<br />Council Chamber, City Hall, beginning at 7:30 P.M., all members being present,
<br />
<br />viz., Mayor F. T. Renick, M.D.; Vice-Mayor Francis T. West; Harry L. Boaz;
<br />
<br />W. Donald Hartford; and William D. Hobson.
<br />
<br />After discussing the recommended purchase of microfilming equipment, as referred
<br />
<br />to in Council's minutes of meeting held August 12, 1969, Council deferred action
<br />
<br />on this matter, pending additional study.
<br />
<br />Upon motion, duly seconded and unanimously carried, Council authorized the
<br />
<br />execution of temporary-financing notes for the renewal of those due September 30,
<br />
<br />1969, through the following resolution:
<br />
<br />WHEREAS, the sale and/or issuance of $2,100,000 City of Martinsville
<br />General Improvement Bonds remain(s) pending; and
<br />
<br />WHEREAS, anticipated income of the City of Martinsville will not be
<br />sufficient to meet the City's operating expenses and contractual
<br />obligations until said bonds are sold and/or delivered; and
<br />
<br />WHEREAS, by resolution adopted June 24, 1969, Martinsville City Council
<br />authorized the borrowing of funds from local banks, on a temporary basis,
<br />in the sum of $2,046,000.00, due and payable September 30, 1969; now,
<br />therefore,
<br />
<br />BE IT RESOLVED by the Council of the City of Martinsville, Virginia,
<br />in regular meeting assembled this seventeenth day of September, 1969,
<br />that the Honorable F. T. Renick, M.D., Mayor, and W. H. Yeaman, Clerk
<br />of Council and Director of Finance, be--and are hereby--authorized
<br />and directed to execute notes, on behalf of the City of Martinsville,
<br />for the renewing of said outstanding loan of $2,046,000.00 (due September
<br />30, 1969) for the period ending December 31, 1969, with right of
<br />anticipation reserved for any portion or all of said amount.
<br />
<br />4(
<br />
|