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~areh 2~d. ~q37-
<br />
<br />Ayes: Lelgh, Fox, Grimes,
<br /> We[seman, Uilson
<br />Nays: None
<br />
<br />Howard, Hutchins~ Lawrence, Warren,
<br />
<br /> yth - SAs requested by the Councii, at the last meeting, I have had a con-
<br /> ference with the members of the Sinking Fund Commission.
<br /> I state~ to them that I thought it inadvisable to buy too many bonds,
<br />at such a high rate of premium, that within a year, the City has coming due $150,000.00 in
<br />bonds, and a year or so later, $250,000.O0 more, which can. be taken up when due, at par.
<br />When this is done, the City's d~bt service will be decreased nearly $20~000~00 per year.
<br /> I stated that, as prosperity is returning, stocks will probably ad -
<br />vance, and almost invariably, when this occurs, bonds decline because the demand for money
<br />will increase interest rates.
<br /> I also gave them this thought that on account of the Federal Govern-
<br />merit spending, lending and-donating such enormous amounts of money, that it will be necessary
<br />to find new sources of revenue, and that I did not see how municipal bonds could escape tax-
<br />ation much longer. The reason for the present high oriee of all municipal securities is be-
<br />cause they are not taxed.
<br /> ! was received very cordially by the gentlemen on the Commission, and
<br />they se~med to appreciate my opinions, and stated they were willing to co-operate with the
<br />Council_and Manager for the good of the City, and invited me to attend any or all future
<br />mee~ings, e
<br />
<br />On motion ordered filed.
<br />
<br /> Sth - ~Last APril, Mr. Wm. A. Harrison, of 1005 Fifth St., was operated on
<br />for hernia, and the doctors pronounced him well. On December yth, 1936, while walking on
<br />Eighth ~t., in South Portsmouth, ~. Harrison stepped in a hole, on the northwest corner of
<br />Eighth St. and Naval Ave,;. had a fall and the hernia reappeared. He brought suit a~ainst
<br />the City, for $10,000.00, through his attorneys Harry Brlnktey and David Levin.
<br /> Mr. Barclay and I have been negotiating with the attorneys for settle-
<br />mont. During these negotiations, I had Dr. Denny, Director of Public Welfare, examine Mr.
<br />Harrison, and he reported that he still has this trouble. Whether the hernia came back, as
<br />they often do, without any fell or accident, or was caused by this fall onthe sidewalk, we
<br />hav~ been unable to prove.
<br /> After several conferences between ~. Harrison's attorneys, Mr. Bar-
<br />clay and myself, Mr. Barclay feels, ratherthan risk a ver~lict against the City, we had bet-
<br />ter pay Mr~ Harrison $350.00, which Mr. Harrison's attorneys agreed to accept, provided it
<br />can be paid promptly. I recommend that the Council appropriate that amount, at this meetIng, s~
<br />
<br /> Motion of Mr. Fox, that the Manager's'recommendation be concurred in and that
<br />an appropriation of $350.00 be made for same, was adopted, and by the following vote:
<br />
<br /> Ayes: Leigh, Fox, Grimes, Howard, Hutch!ns, Lawrence, Warren,
<br /> Weiseman, Wilson
<br /> Nays: None
<br />
<br /> The City Manager presented the following ordinance:
<br />
<br /> SAN ORDINANCE IMPOSIN~A LICENSE TAX FOR THE CITY OF PORTSMOUTH~
<br /> VIRGIR~A, FOR THE YEARBEGINNINGNAy lsd, 1937."
<br />
<br /> On motion of Mr. Fox, same was placed on its first reading.
<br />
<br /> The following communication from the City Attorney was read:
<br />
<br /> ~Wl~enthe City purchased the land near the Godwin St. pumping station last
<br />Fall~ I was instructed to offer ~o Miss Virginia M. Cooke, the sum of Six Hundred Dollars
<br />for the adjoining land, owned by her, and in the event the offer was not accepted, to con =
<br />demn the land for the uses of the City. I made Miss Cooke the offer, and ~n telephone con-
<br />versations with me, she has refused to accept the offer and states she will sell the land
<br />for $2000.00~
<br /> The land lies between the west side of Elm Ave. and the property purchased
<br />by the Oity and block~ off Rutter St. from entering Elm Ave. It is triangular in shape,
<br />about 408 feet long, 20,5 feet in width at the north end, and t~nering to a point at the
<br />south end.
<br /> Unless the Council is willing to pay the price requested by Miss Cooke, I
<br />suggest that it pass the accompanying resolution.~
<br />
<br />Resolution -
<br />
<br /> "Be it-resolved by the Council of the City of Portsmouth,
<br />that whereas, Miss Virginia Mo Cooke has rejected the offer of the
<br />City of Portsmouth to purchase the parcel of land situate in this
<br />City, beginning 1~3.4 feet north from the northwest intersection of
<br /> South St~ and extending thence along the west side of
<br />Elm Ave. and3o ,
<br />Elm Ave. N. W. ~O?.l feet, thence west 20.5 feet to the property
<br />of the City, and thence S. 5° 5~~ We ~O~.2 feet, more or less, to
<br />the point of beginning, and the price fixed by Miss Virginia M. Cooke
<br />for said land is not acceptable to the City, and it is necessary for
<br />the purpose of the City of Portsmouth, for i% to acquire said land,
<br />and the same is needed for the extension of the facilities of the wa-
<br />ter works system, and the protection of the same, and for the erection
<br />
<br />
<br />
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