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48 <br /> <br />TUESDAY. DECEMBER 10. 1996 <br /> <br />Upon motion, duly seconded and by unanimous vote, Council accepted and <br />appropriated $200,000 received as gifts which enabled the Martinsville <br />Redevelopment and Housing Authority to acquire the R. P. Thomas <br />Trucking Terminal property on Fayette Street. The gifts were in the <br />amount of $100,000 each from the Martinsville Bulletin and an anonymous <br />donor. The Martinsville Bulletin had previously paid the auctioneer <br />815,000 as a down payment on the property, therefore, Council <br />appropriated 8185,000 to the Capital Reserve Fund land acquisition and <br />development line item. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council adopted the <br />following Resolution: <br /> <br />BE IT RESOLVED that Richard D. Fitts, Director of Finance for the City <br />of Martinsville, Virginia, is hereby authorized to sell, assign and <br />endorse or transfer certificates representing stocks, bonds or other <br />securities registered in the name or for the account of the City of <br />Martinsville, Virginia. <br /> <br />This resolution was necessary in order to allow for a donation in the <br /> <br />form of stock to fund the purchase of the R. P. Thomas property. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council authorized <br />the City Manager to execute legal agreements/contracts (as approved by <br />the City Attorney) necessary for the Martinsville Redevelopment and <br />Housing Authority to accept title to the tracts of land formerly owned <br />by the R. P. Thomas Trucking Company. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council cancelled its <br />regular meeting scheduled for December 24, 1996. <br /> <br />The City Manager announced that Council would meet with the Henry <br />County Board of Supervisors at 8:30 A.M. on December 16, 1996 at the <br /> <br /> <br />