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180 <br /> TUESDAY. JUNE 25. 1996 <br /> <br /> installation of a traffic signal at the intersection of Rives Road and <br /> Mulberry Road on traffic flow at the six-way intersection of Jefferson, <br /> Spruce and Jefferson Circle. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council approved a <br />contract for the City's insurance coverage package with the St. Paul <br />Insurance Company for a one-year period beginning July 1, 1996 through. <br />June 30, 1997 at a cost of $174,576, which is $61,019 less than the <br />current premium. The coverage will be administered by Burch-Hodges- <br />Stone of Martinsville. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council authorized <br />the City Manager to execute a lease agreement between FOCUS and the <br />City for property owned by the City located at 17 Moss Street. The <br />lease is a renewal at the same $1 per year annual rental. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council authorized <br />the City Manager to execute a lease agreement with the Department of <br />the Army for 45 parking spaces used by the Army Reserve. The lease is <br />for one-year with automatic annual renewal until 2001 at a rental rate <br /> <br />of $600 per year. The use of the leased spaces is limited to one <br />weekend per month. <br /> <br />Council acknowledged a financial report for the month ending May 31, <br />1996. <br /> <br />Council considered adoption, on an emergency basis, of Ordinance No. <br />96-5 amending the Building Code Ordinance. City Manager Earl B. <br />Reynolds, Jr. stated the Building Code Ordinance had not been amended <br /> <br /> <br />