Minutes 03/08/1960 - Laserfiche WebLink

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1: TUESDAY MARC II 8, 1960 or City on the eighth day of March, 1960: WHEREAS, The School Board for the County of , or City of Martinsville, Virginia, on the 23rd day of February, 1900, presented to this Board or Council, an application addressed to the state Board of Education of Virginia for the purpcse of borrowing from the Uterary Fund $77,000.00 for the new school building (or for adding to or improving the present school building) at Cleveland Avenue, Mar tinsville , Virginia, to be paid in ten annual installments, and the interest thereon at 3 per cent paid annually, provided there are sufficient funds in the U terary Fund at the time the money is called for by the School Board. - If, in the discretion of the State Board of Education, it appears advisable to provide money for this loan through assignment to the Virginia Retirement System, the rate of interest on this loan will be not less than two nor more than four per cent per annum. RESOLVED, That the application of the County or City School Board to the State Board of Education of Virginia for a loan of $77,000.00 from the Literary Fund is hereby approved, and authority is hereby granted the said County or City School Board to borrow the aaid amount for the purpose set out in said application. The Board of Supervisors for said County or Council of said City will each year during the life of this loan, at the time they fix the regular levies, fix a rate of levy for schools or make a cash appropriation sufficient for operation expenses and to pay this loan in annual installments and t.he interest thereon, as required by law regulating loans from the Literary Fund. I hereby certify that ule foregoing is a true copy as taken from the minutes of the Board of Supervisors for the County of or the Council of the City of Martinsville, Virginia. Council took no action on proposed amendments to the "Animals & Fowlll section of the City Code other than to place a proposed ordinance--setting forth such amenclJrents as placed on first reading February 5', 1960--on second reading. Mr. Wilbur Doyle and Mr. Brooks R. Leavitt appeared before Council on behalf of Doyle Ready-Mix Concrete Corporation and renewed their request for release by Council of an easement incorporated in an agreen:ent approved May 22, 1956, whereupon Council granted the request by authorizing the City A ttorney to prepare a release deed and authorizing the execution of same by representatives of the City.