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J. 60 <br /> <br />TUESDAY, JUNE 27. 1995 <br /> <br />Upon motion, duly seconded and by unanimous vote, Council accepted and <br />appropriated $112,794.50 received from the sale of Tract 14 in the <br />Martinsville Industrial Park, which is the site currently under <br />construction by Drake Extrusions. The funds were appropriated.as <br />follows: $23,747.31 to cover expenses incurring in connection with the <br />sale and $89,047.19 to be set aside in a Development Reserve Account to <br />be used for future projects. <br /> <br />Council acknowledged a financial report for the month ending 5/31/95. <br /> <br />Council considered adoption, on an emergency basis, of Ordinance No. <br />95-6 amending Chapter 21--Taxation, Article VII--Consumer Utility Tax <br />on Telephone Service related to the consumer utility tax on mobile <br />local communications. Director of Finance Richard Fitts noted <br />legislation which became effective September 1, 1994 provided that the <br />tax imposed on such service must only be at a rate of 10% of the <br />monthly charge and must not be applicable to any amount over $30. The <br />City's Ordinance provided for a tax of 20% of the first $15 for <br />residential service and 20% of the first $15 plus 5% of any amount in <br />excess of $15 for commercial or business customers. Upon motion, duly <br />seconded and by unanimous vote, Council adopted the following <br />Ordinance: <br /> <br />WHEREAS, Section 21-90 of the Martinsville City Code provides that <br />the tax rate on consumers of the utility service or services <br />provided by telegraph and telephone companies shall be twenty <br />percent of the first fifteen dollars (maximum three dollars) for <br />each residential service and twenty percent of the first fifteen <br />dollars plus five percent of any amount in excess of fifteen <br />dollars for each commercial or business service, and whereas said <br />ordinance became effective on July 1, 1993, and, <br /> <br />WHEREAS, the legislature on July 1, 1994, amended the enabling <br />statute, specifically Section 58.1-3812 of the Virginia Code, to <br />provide that the tax imposed on a consumer of mobile local <br />telecommunication shall be only at a rate equal to ten percent of <br /> <br /> <br />