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<br />.,..-- <br /> <br />-- <br /> <br />t- <br />"' <br />o <br />10 <br />'" <br />.. <br /> <br />?: <br />0:: <br />o <br />"" <br />~ <br /> <br />~ <br />p. <br /> <br />" <br />" <br />" <br />.S <br /> <br />" <br />'0 <br />-" <br /> <br />1 ~~!1 <br />~ ~~ <br />] i <br />,..; <br /> <br />z <br /> <br />" <br />c <br /> <br />~ <br /> <br />.;: <br />.~ <br />:; <br />3 <br /> <br />Q <br />o <br />o <br />'" <br /> <br /><.5 <br />o <br />.-" <br />~ <br /> <br />AN CRDINANCE AUTHORIZING THE ISSUANCE OF $620,000.00 OF BONDS OF THE CITY <br />OF MARTIlSVILLE TO FINANCE THE COOT OF DPnOVUn THE CITY'S WATER SUPPLY SYSTEM AND <br />PROVIDING FCR THE SUBMISSION OF THE QUESTION OF ISSUING SAID BONrS TO THE QUAUFIED <br /> <br />VOTERS OF SAID CITY. <br /> <br />.--...-.-- <br /> <br />'7HEnEAS, the City of Martinsvil1e has, for many years" maintained and <br /> <br />operated a water supply system in order to provide a supply of water to the City <br />and to its inhabitants, and the Council of said City deems it desirable that said <br /> <br />water supply' systen shall be i;aprC'~d tn the mamer hereinafter set forthJ am <br /> <br />WHEREAS, said City has for many years derived a revenue from the operation <br /> <br />of such water supply system and said water supply system is now and, when it has <br /> <br />been improved in the manner hereinafter set forth, will be a specific undertaking <br /> <br />from which the City rna.y hereafter derive a revenue wi thin the meaning of Section <br /> <br />127 of the Constitution of Virginia: 1'101.11, THEREFORE, <br /> <br />BE IT ORDAINED by the Coun:::il of the City of MartinsvUle, Virginia. as <br /> <br />tollows : <br /> <br />,- <br /> <br />Section 1. The Council of the City of Martinsville has ascertained aM <br />hereby Eletermines that it is expedient that said City shall borrow money and con- <br /> <br />tract indebtedness and issue its bonds, as hereinafter provided, to finance the <br />cost of improving the City-IS water supply system by (1) constructing a new water <br /> <br />impounding reservoir and acquiring the real estate required therefor and conoocting <br />such reservoir with such water supply system, and (2) constructing new water supply <br />mains or other improvements ne..:essary to provide facilities for the distribution ot <br />,- water, and (3) providing a gdrd~;e and shOpS for the storage, maintenaree and 1"epair <br />of vehicles and for the st.orage of materialS, !?arts and supplies used in the opera.- <br />tion and maintenance of such water supply sys wm, in three buildings to be erected <br /> <br />by said City. <br /> <br />Section 2. In order to finance the cost of making s aid improvements to <br />