Minutes 03/24/1964 - Laserfiche WebLink

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24 TUESDAY MARCH 24, 1964 - additional property on West Church Street immediately east of that already acquired by the City for a new City Hall site and, further, reported that the City is in receipt of an offer (through the Trust Department of The First National Bank of Martinsville and Henry County) to sell to the City the John R. Smith Estate property, located on the south side of West Church Street, for the sum of $175,000.00, $52,500.00 payable initially and the balance divided into two equal annual payments at an interest rate of 3i%. City Manager Hirst also reported that the City has obtained an option from Doctors Gordon J. Axelson and Henry B. Teague for the purchase, within ninety days from March 20, 1964, of the Teague-Axelson property on West Church Street between t.he City's property and the John R. Smith Estate property, the purchase price being $39,000.00 cash. City Manager Hirst suggested a short- term method of financing the cost of acquiring these properties, pending preparation of the City's 1964-65 budget, in the event Council desires to acquire the property for the site of the proposed new City Hall, plans and sketches for which Mr. Hirst expects to present at Council's next regular meeting. Meanwhile, Mayor Wilson abstained froill taking a position relative to the Smith property, because of his affiliation with The First National Bank, which represents the Smith Estate. Council then authorized t.he acceptance of the Smith Estate offer and, also, the exercising of the option on the Teague-Axelson property before said option expires. .~ - By recorded and unanimous vote, Council appropriated the sum of $1,500.00 to the Public Library budget for the purchase of books, off'-set by a like amount of revenue received March 20, 1964, as an award from the Book-Of-The- Month Club, Inc., referred to in Council's minutes of December 10, 1963. Some discussion dwelled on some problem of discipline among some high school students at the Library as well as on the increased usage of the Library by the public and the possibility of keeping the Library open more week-day nights as well as Saturday and Sunday.afternoons.