Minutes 06/29/1962 - Laserfiche WebLink

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48 FRIDAY JUNE 29..L19~2" A special and duly-called reeting of the Council of the City of Martinsvi1le, V:irginia, with Mayor J. Frank Wilson presiding, was held in the Council Chamber, City Hall, Friday, Juoo 29, 1962, at 12 :30 P.M., all :rrembers of Co~il being present, viz., Mayor J. Frank Wilson; Vice-Mayor Fred T. Renick; Thoms J. Burch; E. E. Stone; and Ha.rry L. Boaz. After the invocation, Mayor Wilson stated the purpose of this reeting, as set forth in Council's meeting of June 26, 1962, which was to consider and/or adopt the City Budget for the fiscal year ending Jure 30, 1963. Councilman Burch introduced a motion that the budget be adopted with revisions directed by Council and in accordame with a listing of said revisions by City Manager Hirst--including the revertiIlS to the one-dollar-per-month utility tax in effect prior to the fiscal year 1961-62 and including no change from the past year in the City's property tax rates ($1.85 per one hundred dollars of assessed valuation on taxable real estate and $2.25 per one hundred dollars of assessed valuation on personal property and machinery and tools)--and Councilman S tone seconded, after which and in discussion the following statements were recorded: Vice-Mayor Renick suggested that the utility tax, as heretofore imposed as well as proposed to be imposed, be deleted and replaced by a tax of ten per cent on each utility bill, with a minimum monthly tax of $1.00, and with an excess computed by the 10% tax (over $1.00 per bill per month) be earmarked for capital improvement projects. Mayor Wilson expressed the opinion that, if the City develops as it should, of oocessi ty more revenue will be required; however, perrling completion of the current reappraisal of taxable real estate and a thorough study of capital needs as well as ways and means of equitably finanCing such needs, the revised budget for which motion to adopt was introduced should be adopted.