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TUESDAY, FEBRUARY 10, 1998 <br /> <br />Council next considered adoption of a Resolution authorizing the Director of Finance to sign a Surety Bond <br /> <br />for the City related to the Clearview Business Park Project. Mr. Wade Bartlett, Director of Finance, <br />presented background on this issue, noting that the Virginia Department of Transportation required the bond <br />in question before they would provide a grant in the amount of $450,000 for the Industrial Access Road into <br />the Park. Mrs. Huskell stated her understanding that the terms of the grant required that a business must <br />locate in the Clearview Business Park on or by June 20, 1999 or the grant would have to be repaid. <br /> <br />Bartlett confirmed this fact, and stated that this was the reason for the surety bond in question. 'Upon motion <br />duly seconded, and by unanimous vote, Council adopted the following Resolution: <br /> <br />RESOLUTION <br /> <br />WHEREAS, W. W. Bartlett, Director of Finance for the City of Martinsville, executed a security bond on behalf <br />of the City of Martinsville as principal and St. Paul Fire and Marine executed said surety bond as surety, which <br />bond bound the City and its surety to the Commonwealth of Virginia in the amount of $450,000.00 <br />conditioned upon the construction and operation of a qualified manufacturing or industrial establishment in the <br />Clearview Business Park prior to June 20, 1999; and <br /> <br />WHEREAS, the said St. Paul Fire and Marine has requested that Martinsville City Council provide express <br />authorization for the said W. W. Bartlett to execute said surety bond on its behalf; now, therefore, <br /> <br />BE IT RESOLVED by the Council of the City of Martinsville, Virginia, in regular session assembled on February <br />1 O, 1998, that the said W. W. Bartlett, in his capacity as City Finance Director be, and he hereby is, <br />authorized retroactively to execute said surety bond on the City's behalf. <br /> <br />Council next considered the receipt of public comments relative to proposed amendments to the City' s Terms <br />and Conditions for Electric Service and the Terms and Conditions for Water and Sewer Service. Them was <br />no public comment on this issue, and in response to a question from Council Member Haskell, Mr. Bartlett <br />confirmed that there had been no calls from the public on these items since the public briefing on same at <br /> <br /> <br />