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<br />128 <br /> <br />MONDAY <br /> <br />MARCH 18. 1927 <br /> <br />A special meeting of Martinsville City Council, duly called for the purpose <br /> <br />of considering the adoption of an ordinance authori zing the issuance of <br /> <br />$2,200,000 of bonds of the City of Martinsville to finance the cost of <br /> <br />constructing, enlarging, reconstructing and equipping school buildings and <br /> <br />acquiring and grading lands necessary therefor and providing for the <br /> <br />submission of the question of issuing said bonds to the qualified voters <br /> <br />of said Ci ty, was held in the Council Chamber , City Hall, on Monday, March <br /> <br />18, 1957, at 5:00 P.M., with Vice~~yor John W. Shultz presiding in the <br /> <br />absence of Mayor F. V. 'Woodson (who was ill) and all members present with <br /> <br />the exception of Mayor woodson, as follows: Vice-Mayor and Councilman <br /> <br />John W. Shultz, and Councilmen B. H. Hill, E. E. Stone, and J. R. Walker. <br /> <br />City Attorney Stone presented to Council the bond ordinance hereinbefore <br /> <br />men tioned, which was prepared by the New York firm of Reed, Hoyt, Taylor <br /> <br />and Washburn. Upon motion by Councilman Walker, seconded by Councilman <br /> <br />Stone, and by a recorded vote which was unanimous of members present, <br /> <br />Council placed on first reading said ordinance as introduced, in accordance <br /> <br />with paragraph 5 of Chapter 11 of the City Charter, as follows: <br /> <br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF $2,200,000 OF BONDS <br />OF THE CITY OF MARTINSVILLE TO FINANCE THE COST OF CONST1I.TCTING, <br />ENLARGING, REX: ONSTRUCTING A..\TD EQtiIPPDJG SCHOOL Bl1 UD INGS AND <br />ACQUIRING AND GRADING LA~1)S NECESSARY THEREFOR AND PROVIDIKG FOR <br />THE SUm-'fISSION OF THE Qt'ESTION OF ISSU ING SAID BONDS TO THE <br />Qt'ALIFIED VarERS OF SAID CITY. <br /> <br />BE IT ORDAINED by the Council of the City of Martinsville, <br />Virginia, as follows: <br /> <br />Section 1. The Council of the City of Martinsville has <br />ascertained and hereby determines that it is expedient that <br />said City shall borrow money and contract indebtedness and <br />issue its bonds, as hereinafter provided, to finance the cost <br />of constructing new school buildings and of reconstructing and <br />enlarging existing school buildings and of acquiring and grading <br />the lands necessary for use as sites for such school buildings <br />and grounds and of installing in such buildings and grounds <br />necessary apparatus and equipment. <br />