Minutes 04/23/1991 - Laserfiche WebLink

Home Browse Search

1--16 TUESDAY, APRIL 23, 1991 A regular semi-monthly meeting of the Council of the City of IMartinsville, Virginia, with Mayor Allan McClain presiding, was held Tuesday, April 23, 1991 in the Council Chamber, City Hall, beginning at 7:00 P.M. All members of Council were present: Allan McClain, Mayor; Alfred T. Groden, Vice-Mayor; George B. Adams,-Jr.; L.D. Oakes, and Clyde L. Williamso After the invocation, followed by Mayor McClain's cordial welcome to visitors present, Council approved the minutes of its April 5, 9, 11 and 16 meetings as amended. Mayor McClain and members of Council expressed congratulations to Lance Heater on his promotion from Assistant to the City Manager to Assistant City Manager,-which was announced by the City Manager on April 19, 1991. Council considered adoption of a Resolution approving a request by Memorial Hospital of Martinsville and Henry County for the Martinsville Industrial Development Authority to refund and issue new bonds as follows: (1) the refinancing of bonds in an amount up to $7,800,000 of the original $9,950,000 issuance of 1979 used to expand the hospital facilities and (2) the financing of=--$5,200,O00 for the purchase of equipment. City Manager Brown explained that a public hearing had been held on the issuance of the bonds at a meeting of the Industrial Development Authority on April 3, 1991 and'that comments heard at the public hearing had been recorded in the meeting minutes of the Authority.- Mr. Brown stated that the Authority adopted a Resolution authorizing!the issuance of the bonds, but Council must also adopt a Resolution approving the issuance of the bonds. A motion and second'was made to"adopt the Resolution. In response to a question by Councilman Adams, Mr. George Clemo,' an attorney representing the Hospital, stated that the bond proceeds would not be used to fund the construction of the recently-completed