Minutes 04/23/1998 - Laserfiche WebLink

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THURSDAY~ APRIL 23~ 1998 included architectural and engineering fees, furniture, fixtures and equipment, and other related items. Mrs. Haskell then asked if any construction might begin during the coming summer. Dr. Trollinger stated that no construction would occur during the summer, but that asbestos removal would be done during that time. Vice-Mayor Crabtree then asked if the legislative action by the General Assembly to increase the Literary Loan limit from $5 million to $7.5 million had been implemented by the State yet, and was told that although approved by the Legislature the new limit had not yet been implemented. The Vice-Mayor then asked if a Resolution by Council to encourage its implementation might be useful, to which Dr. Trollinger replied in the affirmative. Council then voted unanimously to approve such a resolution, instructing staff to prepare a suitable document for this purpose. The Resolution reads as follows: RESOLUTION ON LITERARY LOAN LIMIT WHEREAS, the City Council of the City of Martinsville has recognized the critical need for the construction of school facilities within the Martinsville community; and WHEREAS, Council also recognizes that the State of Virginia's Literary Loan Fund is the most cost effective source of funds for such school construction; and WHEREAS, the proposed increase of the limit on Literary Loan amounts from $5 million to $7.5 million per loan will better enable localities to meet the needs of school construction at the lowest possible cost; now, therefore BE IT RESOLVED, that the Council of the City of Martinsville, Virginia, in special session assembled on April 23, 1998, by unanimous vote, does hereby encourage the Virginia State Board of Education to implement the increase of limits of Literary Loans from the current lin~t of $5 million per loan to $7.5 million per loan, as appproved by the General Assembly, as soon as possible, The next project considered by Council was a review of proposed improvements to the intersection of Fayette Street and Smith Road. Two options for this purpose were shown, and Option I was presented as the recommended option. Mr. Reeves stated that even if the Albert Harris Project were not being done the improvements to this intersection were needed for reasons of safety and good traffic flow. It was clearly stated that this project was not lobe provided for within the Albert Harris Project budget, and that the funds