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TUESDAY, JUNE 8, 1999 <br /> <br />question be placed in the General Fund Fund Balance in that account. His motion died for lack <br /> <br />of a second. Vice-Mayor Teague then moved that $110,000 of the funds in question be used to <br />ereate an Economic Incentive Fund, and the balance be placed in the General Fund Fund <br />Balance. This motion was seconded for discussion purposes, and Council Member Haskell then <br />asked that the Vice-Mayor give some examples of how the proposed Economic Incentive Fund <br />might be used, and the Vice-Mayor provided examples such as site grading, extension of <br />utilities, laying of fiber optic lines, etc. Mr. Jones then suggested that the City put the funds in <br />an investment account for five years and coming back at that later date to consider how to best <br />use the funds. Council Member Dallas then noted the problem of a blighted residence at the <br />comer of Chatham Heights and Myrtle Road, and suggested that a portion of the funds in <br />question be used to dean up this problem. Vice-Mayor Teague suggested that the City' s Critical <br />Care housing repair fund might be a good source of funds for this problem. Council Member <br />Haskell then stated that a change needed to be made in the practice by which the General Fund <br />had been subsidized from various enterprise funds over the years past, and said that she could <br />support placing $110,000 of t'he Rebate Funds in the General Fund Fund Balance. The vote was <br />then taken on Vice-Mayor Teague's suggestion to place $110,000 in an Economic Incentive <br />Fund and the balance of $110,000 in the General Fund Fund Balance, and the motion was <br />defeated by the following vote, all members voting: <br /> <br />Vote: 2-3. <br /> <br />Yeas: (2) Roop, Teague. <br /> <br />Nays: (3) Crabtree, Dallas, HaskelI. <br /> <br /> <br />