Laserfiche WebLink
<br />-- <br /> <br />;--- <br /> <br />t- <br />"' <br />o <br />10 <br />'" <br />.. <br /> <br />?: <br />0:: <br />o <br />"" <br />~ <br />~ <br />.;; <br /> <br />Q <br />> <br />.8 <br /> <br />" <br />o <br />-" <br />: ~i' <br />"g 8~ <br />"' <br />,..; <br />Z <br /> <br />c <br />c <br /> <br />o <br />0:; <br /> <br />f <br /> <br />g, <br />:; <br />U <br />o <br /> <br />~ <br />'" <br /> <br /><.5 <br />..c <br />o <br /> <br />AN CRDlNANCE AUTHORIZING THE ISSUANCE OF $620,000.00 OF BONDS OF THE CITY <br />OF MARTIlSVILLE TO FINANCE THE COOT OF DIPROVIID THE CITY'S WATER SUPPLY SYSTEM AND <br /> <br />PROVIDING FCR THE SUBMISSION OF THE QUESTION OF ISSUING SAID BONrS TO TIm QUAUFIED <br /> <br />VOTERS OF SAID CITY. <br /> <br />.....-...--- <br /> <br />l}l1EHEAS, the City of lVlartinsville 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' sYSU'r1 shall be imprC'vl7'd tn the mam8r hereinafter set forthJ am <br /> <br />VlHEREAS, said City has for many years derived a revenue from the operation <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 Cit-y may hereafter derive a revenue wi thin the meaning of Section <br /> <br />127 of the Constitution of Virginia: NOYf, THEREFORE, <br /> <br />BE IT ORDAINED by the Coun::il of the City of Martinsville, Virginia. as <br /> <br />follows : <br /> <br />Section 1. The Council of the City of Martinsville has ascertained am <br /> <br />,.- <br /> <br />hereby determines that it is expedient that said City shall borrow money and eon- <br /> <br />tract indebtedness and issue its bonds, as hereinafter proVided, to finance the <br />cost of improving the City1s water supply system by (1) constructing a new water <br /> <br />impounding reservoir and acquiring the real estate required therefor and connecting <br /> <br />such reservoir with such water supply system, and (2) constructing new water supply <br /> <br />mains or other improvements ne~essary to provide facilities for the distribution ot <br /> <br />- water, and (3) providing a gardge and shopS foX" the storage. maintenaree and X"epair <br /> <br />of vehicles and for the storage of materials, :1arts and supplies used in the opera- <br /> <br />tion and maintenance of such water supply system, in three buildings to be erected <br /> <br />by said City. <br /> <br />Section 2. In order to finance the cost of making said improvements to <br />