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January 22, 1952,
<br />
<br />Notion ef Mr. Howard that the Mayor be authorized to represent the City of Ports-
<br />
<br />mouth, was adopted.
<br />
<br />The following statement from the General and 7~ater Sinking Funds were presented:
<br />
<br />"STATE~T OF GENERAL SINKING FUND AS OF DECENBER 31, i951
<br />
<br />Cash
<br /> Balance 12/31/50
<br />
<br />$A03,593.34
<br />
<br />'Receipts:
<br /> Interest on Bonds
<br /> Interest on Deposits
<br /> Am~aual payment
<br /> Bonds matured
<br />
<br />26,785.00
<br />2,622.68
<br />72,000.00
<br />A6,000.OO
<br />
<br />147,407.68
<br />
<br />Total Receipts
<br />
<br />$551,001.02
<br />
<br />Disbursements
<br />
<br />Balance 12/31/51
<br />
<br />Bank. Balances 12/31,;51
<br /> American National Bar~ (Open Acct) $
<br /> " " " Int. ~'
<br /> Nor.& Far. Bank. " "
<br /> Citizens Trust Co. " "
<br /> Bank ef Virgin~ " "
<br />
<br /> 9,089.82
<br />1~5~802.28
<br />145,402.08
<br />144,604.89
<br />106wlOi.9~
<br />
<br />$ 551,001.O2
<br />
<br />Bonds
<br /> On hand 12/30/50
<br /> ~atured 1951
<br />
<br />769,500.00
<br /> 46,000.OQ,,
<br />
<br />Assets 12/31/51
<br /> Cash
<br />Bonds
<br />
<br />$ 723.500.00
<br />
<br /> 551,001.O2
<br /> 72~,500.00
<br />
<br />Assets 12/31/50
<br /> Increase 1951
<br /> Iaterest on Bonds
<br /> Interest on Deposits
<br /> Annual Payment
<br /> Total Increase
<br />
<br />Net earned Interest 1951
<br />
<br />2.506%,"
<br />
<br />1,27&,501.O2
<br />
<br />26,785.00
<br />2,622.68
<br />72,000.00
<br />
<br />1,173,093.34
<br />
<br /> 101.407.68
<br />1,274,501.02
<br />
<br /> "StAtement of Water Sinking Fund as of
<br />
<br />Cash
<br /> Balance 12/31/50
<br />Receipts
<br /> Interest on Bonds
<br /> Interest on Deposits
<br /> Annual Payment
<br /> Bonds Natured
<br /> Total Receipts
<br />
<br />Disbursements
<br /> Balance 12/31/51
<br />Bank Balances
<br /> Amer. Nat'l.Bamk (open acct.)
<br /> Amer. Nat' 1.B~nW (int. acct. )
<br /> Ner.&Far.Bank (Ant.acct.)
<br /> Citizens Trust Co." "
<br /> Bank of Virginia (Ant.acct.)
<br />
<br />Bonds
<br /> On hand 12/31/5o
<br /> Na~ured 1951
<br /> On baud 12/31/51
<br />Assets 12/31/51
<br /> Cash
<br /> Bonds
<br />
<br />Assets 12/31/50
<br /> Increase 1951
<br /> Interest on bonds
<br /> Interest on Deposits
<br /> Annual Payment
<br /> Total Increase
<br />
<br />2,102.10
<br />35,502.11
<br />35,502.12
<br />35,513.82
<br />35.208.47
<br />%43~828.~2
<br />
<br />119,000.00
<br /> 17,000.00
<br />102,000.00
<br />
<br />143,828.62
<br />102,000.00
<br />
<br /> 4,735-00
<br /> 28.67
<br />25~000~00
<br />
<br />December 31, 1951
<br />
<br /> 4,735.00
<br /> 28.67
<br />25,000.00
<br />17,000.00
<br />
<br />None
<br />
<br />97,064.95
<br />
<br />46.763.67
<br />143,828.62
<br />
<br />143,828.62
<br />
<br />2i6,064.95
<br />
<br />29,763.67
<br />
<br />
<br />
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