Minutes 11/22/1960 - Laserfiche WebLink

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TUESDAY NOlEMBER 22, 1960 on a temporary basis from local banks. The resolution authorizing and an proving the School Board's appHcation for the L:tterary Fund loan follo",s: i''''''-'' HHEREAS, The School Board for the City of Hartinsville, Virginia, on the 22nd day of November, 1960, presented to this Councn, an application addressed to the State Board of Education of V:Lrginia for the purpose of borrmdng fro::n the Literary Fund $35,000.00 for the new school building (or for adding to or imnroving the present school building) at rvr..artinsville, 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 Literary F\md at the time the money is caned for by the School Board. If in "he 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 anplication of the City School Board to the State Board of Education of Virginia for a loan of ~~35,000.00 from the Literary Fund is hereby apnroved, and authority is hereby granted the said City School Board to borrow the said amount for the uurpose set out in said application. The 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 a'::Jpropriation sufficient for operatior. expenses anc to pay this loan in annual installments and the interest thereon, as required by law regulating loans from the Literary ~lnd. Unon motion, duly seconded and unanimously carried, Council adopted the following resolution appointing City Attorney Irvin H. Cubine as attorney and agent with authorization to institute condemnation proceedings against Mrs. Lucy E. Rmnsey in connection with her property and the reconstruction of Route 5g r~st, this action superseding Council I s action of April 21, 1960 in this particular case: HHEREAS, Marvin L. Hill, duly appointed Right-or-Hay Negotiator for the City of Hartinsville, the Commonwealth of Virginia, and the Federal Government, in connection with the improving and widening of U. S. Route 58 and Virginia Route 57 within the corporate limits of the City of Martinsville and between Booker Road and Bob Gregory Street, by letter dated April 19, 1960, advised the Council of the City of Martinsville that he has exhausted all available means within the limitations of 1[i3 authority, without success, towards purchasing the fee simple title to that certain parcel of land owned by }~s. Lucy E. Ramsey and known and described as Parcel No. 017 as right-of-wa;'T for the aforementioned construction project; and 'VlHEREAS, said strip or parcel of re-construction, alteration, and therefore, land is necessary for the construction, maintenance of said street; now, 2: