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June 27, 1978
<br />
<br /> 78-187 The following ordinance approved on first reading at the regular meeting of
<br />June 13, 1978, was taken up and read:
<br />
<br /> "AN ORDINANCE TO APPROPRIATE $t00,000 FROM THE CAPITAL IMPROVEMENT FUND FOR
<br /> O~-SITE DRAINAGE IMPROVEMENTS AT VARIOUS LOCATIONS WITHIN THE CITY."
<br />
<br /> Oh m6tion of Mr. Early and seconded by Mr. Oast, the ordinance was adopted,
<br />following vote:
<br />
<br />and by
<br />
<br />the
<br />
<br />Ayes: Barnes, Early, Elliott, Holley, Oast
<br />Nays: None
<br />
<br /> ?8n188]r~The following-ordinance approved on:first reading at the regular meeting of
<br />June 13, 1978, was taken up and read:
<br />
<br />"AN ORDINANCE TO APPROPRIATE $35,635 FROM THE CITY GARAGE FUND FOR PAYMENT OF
<br />THE' AUTHOMOBILE LIABILITY INSURANCE PREMIUM FOR 1978-79."
<br />
<br /> On motion of Mr. Elliott and secondsd by Mr. Early, the ordinance was adopted, and by the
<br />following vote:
<br />
<br />Ayes: Barnes, Early, Elliott, Holley, Oast
<br />Nays: None
<br />
<br />The following reports from the City Manager were presented:
<br />
<br /> 78-203 "Consideration of an ordinance on first reading to appropriate $50,000 from
<br />the Capital Improvements Fund for engineering, soil boring, and other related costs as relates
<br />to the former Coast Guard Bouy Base property.
<br />
<br /> The funds for this appropriation are to be provided from current and previous rents
<br />that have accrued through the use of the property since its acquisition. In order to obtain
<br />more detailed information concerning the condition of the piers, load limits for the piers
<br />and condition of the adjacent land, buildings, utilities, etc., these funds are required
<br />for this purpose. The City Manager recommends adoption on first reading."
<br />
<br /> On motion of Mr. Oast and seconded by Mr, Early, the following ordinance was approved
<br />on first reading, and by unanimous vote:
<br />
<br />"AN ORDINANCE TO APPROPRIATE $50,000 FROM THE CAPITAL IMPROVEMENT FUND FOR
<br />ENGINEERING, SOIL BORING AND OTHER COSTS RELATED TO THE FORMER COAST GUARD
<br />BUOY BASE."
<br />
<br /> 78-204 - "Consideration of an ordinance on first reading amending Ordinance No. 1974-78
<br />pertaining to the rate of payment to the City of Portsmouth for bank stock taxes.
<br />
<br /> Through the efforts of Delegate Manning, the General Assembly changed the State Law as
<br />it applies to bank stock taxes; authorizing the cities to receive 80 cents per $100 value.
<br />The change in the State Law now makes it possible for the City to receive the same (80%)
<br />of the bank stock tax that was previously received by the counties of the Commonwealth.
<br />This change~does not increase the bank stock tax paid by the banks; it only changes the
<br />ratio recmi~d by the City and State from 40% City/60% State to 80% City/20% State. The
<br />City Manager recommends adoption."
<br />
<br /> On motion of Mr. Oast and seconded by Mr.i Elliott, the following ordinance was approved
<br />on first remding, and by the f~t~lowing, vote.: ·
<br />
<br />"AN ORDINANCE IMPOSING TAXES ON SHARES OF STOCK ON BANKS LOCATED IN THE CITY
<br />OF PORTSMOUTH FOR THE YEAR 1979 AND ANNUALLY THEREAFTER, FIXING THE RATE AND
<br />REQUIRING THE PAYMENT THEREOF, REQUIRING CERTAIN REPORTS, AND PRESCRIBING
<br />PENALTIES FOR THE VIOLATION THBREOF."
<br />
<br /> Ayes: Bamnes, Early, Elliott, Holley, Oast
<br /> Nays: None
<br />
<br /> 7~8-205-.,'Consideration of an ordinance to amend the City Code pertaining to Tax Relief
<br />for the elderly as it relates to eligibility of persons who have qualified and relocated withi~
<br />the City of Portsmouth.
<br />
<br /> This amendment will enable those elderly persons who have qualified for tax relief
<br />on real. property to retain their eligibilit.yl when~ relocating their personal residence within
<br />the City of Portsmouth. This eliminates the previous requirement that the two year waiting
<br />period would be reactivated based on a move within the City. The amendment does not eliminate
<br />th!e two year waiting requirements for new residents or initial application by an original
<br />resident. The ~ity Manager recommends adoption."
<br />
<br /> On motion of Mr. Elliott and seconded by Mr. Holley, the ~ollowing ordinance was adopted
<br />on first and ,final reading, and by the following vote:
<br />
<br />"AN ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA, 1973, BY
<br />AMENDING SECTION 3S-224.1 THEREOF, PERTAINING TO PERSONS PERMITTED TO TRANSFER
<br />ELIGIBILITY."
<br />
<br /> Ayes: Barnes, Early, Elliott, Holley, Oast
<br /> Nays: None
<br />
<br />
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