Minutes 04/29/1968 - Laserfiche WebLink

Home Browse Search

C;) fJ /: ~~. -:1: MONDAY APRIL 29, 1968 A special and duly-called meeting of the Council of the City of Martinsville, Virginia, was held Monday, April 29, 1968, in the (new) Council Chamber of the new Municipal Building, beginning at 4:00 P.M., for the purpose of considering and/or acting upon a resolution authorizing the sale of $3,900,000 General Inprovement Bonds and upon related financial matters, including matters pertaining to the forthcoming 1968-69 City Budget. All members were present, viz., Mayor F. T. Renick, M.D.; Vice-Mayor E. E. stone; Harry L. Boaz, W. Donald Hartford; and Francis T. West. After considering maturity-and-interest-cost schedules for the $3,900,000 General Improvement Bonds, and upon motion of Vice-Mayor E. E. Stone, seconded by Councilman Harry L. Boaz, Council unanimously adopted the following resolution providing for the issuance of said bonds (on a twenty-year maturity schedule), with the record showing that a motion by Councilman Francis T. West having first been offered--to adopt a thirteen-year maturity schedule--having failed for lack of a II second": (SEE INSERT) In connection with the forthcoming 1968-69 City Budget, Council requested certain information to ascertain the effect upon the City's income should certain tax revisions be made. Meanwhile, Council directed that current business license tax rates and conditions remain in effect for the license tax year beginning May 1, 1968, with the exception of that recommendation of the Special Tax Study Committee regarding contractors located within the corporate limits who build homes outside the corporate limits on a speculative basis. Council was adjourned. 2~~ ..------- W. H. t~~, Clerk of Council