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<br />3~ <br /> <br />TUESDAY <br /> <br />JULY l2 J 1955 <br /> <br />A Report on Audit of the records ani accounts of the City's Circuit Court Clerk, as <br />prepared by the State Auditor of Public Accounts for the calendar year 1954, was <br />received and filed by Council. It was noted by the State Auditor that the Clerk's <br /> <br />records and accounts have been prepared in a most camnendable marmer. <br /> <br />Mr. Wm. S. Coleman, President of Coleman SupplJ" Canp&:\V, requested through letter that <br />Council prohibit the future locating of fish market businesses in the block of F~tte <br />Street in whicl1 Coleman Supply COIlI.p8J\Y :ia located. lIr. Coleman explained, however, <br />that he was not criticizing the fish market business recent:1y' operated in that block. <br />This matter was referred to City Manager Mathewson. <br /> <br />m~~ <br />o~ <br />rr <br />i <br /> <br />The following resolution authorizing temporary bor,rowing of funds in anticipation of <br />property' tax revenues was adopted by C~i1 by a recorded vote which was unanimous, <br />Council also ordering the "cashing in" of $10,000.00 held in certificates of deposit <br />with the Southern Bank of' Ccmnerce: <br /> <br />WHEREAS, there has come to the attention of theCouncU of the City of <br />Martimville the fact that the City's checking account balances in both <br />the Piedmont Trust Bank and the First National Bank of Martinsville, <br />because of present commitments without matchirg inccme at the present <br />time, are insufficient to continue the City's business until general. <br />property tax revenues due several months hence shall have been realized; <br />now, therefore, <br /> <br />BE IT RESOLVED by the Council of the City of Martinsville, Virginia, in <br />regular meeting assembled this twelfth dq of July, 1955, that it doth <br />herein respectfulJ.y request each of the above-named banks to make available <br />immediately to the City of llartinsville the cash sums of forty-five <br />thousand dollars (845,000.00), which sums shall be due and repaid by said <br />City of Martimville 01'J! hUD:1red and fifty days (150) !ran this date; and <br /> <br />BE IT FURTHER RESOIlTED that William R. Shumate, Treasurer for said City <br />of MartinsvilleJ be and is hereby directed and authorized to execute on <br />behalf of s aid City such papers as may be required to accomplish the <br />purpose of this resolution. <br />