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At a special meeting of the City Oouncil held~ June 19th, 1934, at 4:30 P.M., <br />there were present: <br /> <br />Leslie T. Fox, W. R. Nutchins, Arthur Mayo, S. B. Moore, <br />J. Alden cast, H. F. 2arrish, the Oily Manager. <br /> <br />The following call was read: <br /> <br />"Portsmouth, Va.,' <br /> June 18th, 193~. <br /> <br />Mr. L. O. Brinson, <br /> Oity Olerk, <br /> Portsmouth, Va. <br /> <br />Dear Sir: <br /> <br /> Please call a meeting of the Oity Oouncil for Tuesday, June 19th, at 4:30 <br />P.M., to consider borrowing funds for General Government purposes. <br /> <br />Yours truly, <br /> <br />J. Alden cast, president, <br /> City Oouncilo. <br /> <br /> The Manager stated that in order to meet certain interest and bond payments <br />and other obligations due between now and July 1st, that it would be necessary to' borrow <br />$100,OO0. from the banks. From this amount, it is proposed to pay the $20,000.00 borrowed <br />from t~e banks on April 3Oth. The Manager ~urther stated that he had discussed this with <br />the three banks and he thought arrangements could be made to borrow the money provided <br />the Council would comply with request of one of the banks t~ repay the amount borrowed <br />at this time from tax receipts in Nove~oer of this year. <br /> <br /> Motion of Mr. Moore that the City Manager be-authorized to borrow $100,0OO. <br />from the banks, same to be paid from Tax collections in November, was adopted, and by <br />the followingvo~e.= · <br /> <br />ayes: Fox, Hutchins, Mayo, Moore, Oast, Parrish - 6. <br />Nays: None. <br /> <br />On motion adjourned. <br /> <br />OITY OLERK. <br /> <br />Approved - <br /> <br /> President. <br /> <br /> <br />