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<br />153
<br />
<br />MAY 20. 1957
<br />
<br />MOODAY
<br />
<br /> R E V E N U E
<br /> Contributions
<br /> and
<br /> AYl)rol)riations Direct Transfers
<br />Anticipated
<br />Balance at
<br />7-1-57 $ $ 175,346.08 $ 175,346.08
<br />General Fund 1,040,523.04 1,794,247.63 753,724.59
<br />Paving Fund 15,681.81 15,681.81
<br />Prison Fund 82,164.00 72,461.20 ( 9,702.80)
<br />V. P. A. Fund 58,471.00 ( 58,471.(0)
<br />School Fund 1,081,103.00 ( 1,081,103.001
<br />Textbook Fund 19,000.00 19,000.00
<br />Cafeteria Fund 100,641.50 100,641.50
<br />Sinking Fund 5,603.00 5,603.00
<br />stores Fund 38,098.00 ( 38,098.00)
<br />Water Fund 308,767.59 303,399.77 ( 5,367.82)
<br />Sewer Fund 45,500.00 45,500.00
<br />Electric Fund 781,332.86 1,023,720.00 242,387.14
<br />Totals: $3,555,600.99 $3,555,600.99 $
<br /> =
<br />
<br />rn1
<br />m
<br />
<br />In connection wi tb Council t 5 previous statement of policy regarding the financing
<br />
<br />of the proposed $2,200,000 school building program, by a recorded unanimous vote
<br />
<br />of members present, the Council placed on first reading the following ordinances,
<br />
<br />calling for a public hearing on the property tax ordinance amendment to be held
<br />
<br />in the Council Chamber, City Hall, on Tuesday, June 25, 1957, at 7:30 P.M.:
<br />
<br />AN ORDINANCE AM>>IDING THE REAL PROPERTY TAX ORDINANCE ADOPTED APRIL
<br />26, 1949, AND AS AMENDBD
<br />
<br />BE IT OlIDA mED by the Council of the City or Martinsville, Virginia,
<br />that Section 1 of the Real Property Tax Ordinance adopted by
<br />Martinsville City Council on April 26, 1949, and as amended, be
<br />amended to read and provide as follows:
<br />
<br />Section 1. On all real estate wi thin said City (not exempt
<br />from taxation) two dollars and twenty-five cents <$2.25' on
<br />each one hundred dollars of the taxable value thereon. The
<br />taxable value shall be ascertained by the taking of the last
<br />general assessment as a basiS, and in case of 1:mprovements
<br />added to the realty since said assessment the Commissioner of
<br />the Revenue shall add fifty per cent of the fair market value
<br />of said improvements. Where the improvements on said real
<br />esta~e have been destroyed or removed therefrom since the
<br />last general assessment, the Commissioner of the Revenue shall
<br />deduct the amount at which the improvements were assessed from
<br />the whole unless said improvements have been replaced prior to
<br />January 1st of the year in which the assessment is made.
<br />
<br />----'_._-
<br />
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