Minutes 05/24/1960 - Laserfiche WebLink

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410. May 24th, 1960 a ~rogram this year and purchase five buses upon the conditions outlined in my letter of May 19th. We will continue such a progre~mf~om year to year thereafter until all the present buse~ have been replaced, provided that this Company's earnings during such years will permit payment of the added cos~ i ~ it in the ~;w 'buses and give -us a reasonable return as pro - of depreciation resulti~ from the 'larger inves e ~ , vided by the City Code. This program would, of course, be contingent upon our ability to borrow money from Portsmouth banks at reasonable rates of interest and for satisfactory periods of time, based upon the credit of the Portsmouth Transit'Company as shown on its Income and Balance Sheet ~eports ~nd other pertinent information. I would gladly subscribe to such s program which should g~eatly.. ~benefit all the citi- zens of Portsmouth and its economi~clife. (Signed) Warren R. Pollard, President. Motion of Mr. B reedlove to receive for information and refer to a conference of the Council, was~adopted; withou{ diss~tfng eOte. 60-159 - The following letter from Nfs. W.B. Spong was read: "I herewith submit my resignatiou as a member of ~he Portsmouth Cify ~chodl Hoard, I take this' actioh to help garry out the plan adopted by the School Boar9 to become effective on June "30, 1960; aud th~:Ci~y 'Cou~dil to allow representatfbn f~om"~the annexed Area o~ th~ Pdftimo~th City School Board. With"best wi~hes fo~ the progress Of Our ~choo~ ~and 'our City, I am, Sincerely, Mrs. Emily No Spong, President, Ports~oath'City Scgool~oard. Motion of Mr. Breedlove to refer to a conference of the Council was adopted, without dissenting vote. 60--160 - Mr. Baker presented the subjec~ of electing a representative to the Metropolitan Government Plan Committee. On motion of Mr. Bartlett, tabled to the next conference, without dissenting yore. 60-161 - Onmotiou of Mr. Wagger, the privilege of the floor was granted 'S. Re House, who protested building activities on the corner of King and First Avenue, and inquired if the builder had a building permit. Sol; Abr'al~am ilso spoke'=in regard to the ma~tez-. ferred to the City Manager, ~the matter, was-adopted, without dissenting ~ Mdtion of ~r.- ~Breedlove that the complaint of Mr. Hbuse and Mr. Abraham be re - fo~ im~edi~ei~vos~igatTon a~d that ti~eCity ~ana~r in-form them of the status of CiSy Clerk On motion adjourned. Approved - President.