|
September 2Sth, 1954.
<br />
<br /> previous four or fiv~ v~ Y~ wl±l be a saving in capital imDrovement~ h~---= thin the
<br />
<br /> ~n~e~ll. ~ - ~v-~= ox approximately $100,000 00 ann,,~-~w~~__-' .... - _ .---- ~u on expenditures over
<br /> ineaZ~2~i~ ~2te oharge~ outside ~he City limits which is esti~t~t~Sa~t~al revenue to be derived from
<br /> interest it Zm~ curtail the loan at the rate ~rf'$100,OOO.00 annnatl- lu~ , uu.o~ er more annually, the City is
<br /> ~'over a period of six years is $45;000 0O Y p annn~l interest payments. The total
<br /> We 'ahticipa~e ~tha~ the~ savings' in .~etecgrie-en~rgry. in 'p.um~ing the amount of water
<br /> required to supply the City of' Portsmouth will squ~l approximalely the'interesz on the investment.
<br />
<br /> The City officials who will-go ~e New York om October 7, 1954 to sign and deliver
<br />the bo~Idsreeentty ~old will investigate the pessibiliry -of securing a short germ loan ~n' the City of New York
<br />if it is determined that' the City con~d save on int~erest ra~es, it is possible that the loan could be arranged
<br />with New York banks if the City Conncil should desire that~this be dene.
<br />
<br /> It is the opinion of the CommitZ-ee that the project can be financed
<br />ina the amount of revenue paid by the Water Department into the General Operating Revenue of theWith°Utcity annuallyaffect-
<br />during the lifetime of the shorg ~erm indebtedness. I recommend that an appropriation of $594,99Z.00 be placed on
<br />first reading.."
<br />
<br /> Respectfully submitted,
<br />
<br /> X. D. Murden
<br /> A.P. Johnson,Jr.
<br /> I. G. Vass.-
<br />
<br /> Motion of ~r. Hawks to concur in the recnmmendation of the City Manager,and that an appropria-
<br />tion of $594,992.00 be placed on first reading, was adopted.
<br /> (Mr. Grimes and ~ir. Warren voting 'No')
<br />
<br /> Motion of ~[r. Howard that the proper city officials be authorized ~o sign the contract with
<br />the Centriline Corporation, was adopted.
<br />
<br /> 54-265 - vi submit the attached report on the Municipal Incinerazor in the City of Portsmoutl
<br />Virginia, and recommend that the repairs be made re the incinerator as outlined in the reporE."
<br />
<br /> Motion of ~Lr. Hawks [o refer to the City-Mamager to secure bids for this work was adopted.
<br />
<br /> - UNFINISHED BUSIMESS -
<br />
<br /> 54-239 -An appropriation of $4,000.00 for parchase of land to widen Elm Avenue between County and
<br />South Streets, placed on first reading a~ last meeting, was taken up.
<br />
<br />following vote: Motion of ~r. Lawrence to appropriate $4,000.00 for said purpose, was adopted, and by the
<br /> Ayes: Duke, Baker, Bilisoty, Grimes, Hawks, Howard Lawrence, Smith,
<br /> Sturtevant, Warren ' ~
<br /> Nays: None
<br />
<br /> 54-243 - An appropriation of $17,956.43 for the paving of County Street and Elm Avenue adja-i
<br />cent to the Ida Barbonr project,placed on firs~ reading at last meeting, was taken up.
<br />
<br /> Motion of Mr. Hawks to lay on the table, was adopted.
<br />
<br /> 54-244 - An appropriation of $8,000.00 for the construction of concreze sidewalks placed
<br />on first reading a~ last meeting, was taken up. ,
<br />
<br />lowing vote:
<br />
<br />Motion of Mr. Grimes to appropriate $8,000.00 for said purpose, was adopted, and by the fol -
<br />
<br /> Ayes: Duke, Baker, Bilisoly, Grimes, Hawks, Howard, Lawrence, Smith,
<br /> Sturtevan~, Warren
<br /> Nays: None
<br />
<br /> 54-246 - An appropriation of $2,664.47 for the telephone building and the new market shed,
<br />placed on firs~ reading at last meeting, was taken up.
<br />
<br /> lowing vote: Motion of ~ir. Bilisoly to appropriate $2,664.47 for said purpose was adopted, and by the fol-
<br /> '
<br /> Ayes: Duke, Baker, Bilisoly, Grimes, Hawks, Howard, Lawrence, Smith.
<br /> Sturtevant, Warren ·
<br /> Nays: None.
<br />
<br />54-255 - The following ordinance, placed on first reading at a calted~eeting of September
<br />23rd, was taken up and read:
<br />
<br />lowing vote:
<br />
<br />"AN ORDINANCE TO APPROVE THE SALE OF ONE MILLION FIVE HUNDRED THOUSAND DOLLARS
<br />OF SCHOOL BONDS PROVIDED IN THE ORDINANCE ADOPTED BY THE CITY COUNCIL ON
<br />AUGUST 10, 1954, AND FIXING THE RATE ~F INTEREST FOR SA-ID BONDS"
<br />
<br />On motion of Mr. Bilisoly, seconded by Mr. Howard, said ordinance was adopted and by the fol-
<br />
<br />Ayes: Duke. Baker, Bilisoly, Grimes, Hawks, Howard, Lawrence, Smith,
<br /> Sturtevant, Warren
<br />Nays: None
<br />
<br />54-255 - The following ordinance, placed on firs~ reading ag a called meeting of September
<br />
<br />
<br />
|