Minutes 01/27/1998 - Laserfiche WebLink

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146 TUESDAY, JANUARY 27, 1998 BE IT FURTHER RESOLVED that said City Council hereby agrees to pay twenty percent of the total cost for planning and design, fight-of-way, and construction of this project, and that if'the City of Martinsville subsequently elects to caned this project, the City of Martinsville hereby agrees to reimburse the Virginia Department of Transportation for the total amount of the costs expended by the Department through the date the Department is notified of such cancellation. Council next considered two Staff Reports, the first from Mr. Wade Bartlett, Director of Finance, on the status of the City's finances. Mr. Bartlett provided a written report, and stated that all things were in good order with regard to revenues, expenditures, accounts and investments, with revenues and expenditures running at normal historical levels. He noted that General Fund revenues had increased as expected in December due to increased levels of tax collections. Mayor Adams suggested that the combined balance sheet ought to show the Meals Tax category as Schools/Capital/Meals Tax, to more accurately reflect the use of the funds in this area. The second Staff Report was provided by Assistant City Manager Dewey Cashwell, who provided Council with copies of the proposed draft documents for renewal of the current Cable Television Franchise with Adelphia Cable. Mr. Cashwell noted that the new Ordinance would be on Council's agenda for first reading on February I 0, 1998. Mr. Teague noted that the documents presented provided for a rebuild of the cable system by Adelphia, and for cash contributions to the City that would help provide new television technology for the benefit of the citizens. Mr. Dallas expressed a desire for information on the actual revenues the City gets from Adelphia from all its sources, to show the citizens what the community actually gets from Adelphia. Council approved the placement of the Cable Franchise Ordinance on the Agenda of Council's meeting of February 10, 1998, for first reading. Council next considered the need to meet in Executive Session. In accordance with Section 2.1-344 (A) of the CODE OF VIRGINIA (1950, and as amended) and upon motion, duly seconded, and by unanimous recorded vote, Council convened in Executive Session for the purpose of discussing the following matters: (A) Appointments/Re-appointments to various Boards/Commissions, as authorized by Subsection 1 .; (B.) A prospective business or industry or expansion of an existing business or industry where no previous announcement