Minutes 12/22/1964 - Laserfiche WebLink

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34 TUESDAY DECEMBER 22, 1964 Road interest, with effective date being set at midnight on December 31, 1964, and with terms and conditions--with some slight change in amounts payable--as set forth in Council's minutes of December 15, 1964. Noting that the amount of $89,904.22, representing the portion of Henry County's School indebtedness to be assumed by the City, is due and payable on or before December 31, 1964, Council unanimously appropriated from General Fund surplus the sum of $85,922.32 which, with balance of $3,981.90 from current appropriations after reappropriating current appropriations as per City Manager Hirst's statement of December 22, 1964, would equal the amount due. In connection with authorization given by Council on July 14, 1964, to the City School Board to apply for advance planning funds from the Federal Housing & Home Finance Agency for new senior high school facilities, and in connection with application for such funds filed November 18, 1964, Council adopted the following resolution ratifying execution of said application (and agreement): WHEREAS, on July 14, 1964, the Council of the City of Martinsville, Virginia, authorized the Martinsville City School Board to file with the (Federal) Housing & Home Finance Agency an application for an "advance planning" loan of up to fifty thousand dollars to provide funds toward the cost of studying and developing plans for new senior high school facilities; and WHEREAS, pursuant to Council's authorization such an application has been filed, in the amount of thirty thousand dollars, with required agreement having been executed on November 18, 1964, by W. H. Yeaman, Clerk of said Council, on behalf of the City of Martinsville and the Martinsville City School Board; and WHEREAS, the Housing & Home Finance Agency now requires a resolution specifically authorizing the said W. H. Yeaman to execute said agreement on behalf of the City of Martinsville and the Martinsville City School Board; now, therefore, BE IT R.ESOLVED by the Council of the City of Martinsville, Virginia, in regcclar meeting assembled this twenty-second day of December, 1964, that it doth herein and hereby ratify the executing of said applica.tion or agreement by W. H. Yeaman, Clerk of Council and Director of Finance for the City of Martinsville, Virginia.