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April 22, 1930
<br />
<br />C
<br />
<br />21st, 1929, for six monShs a~ six per cent interest, payable at maturity. I am submitting
<br />herewith an ordinsmoefor the re-financing of this loan. I respectfully reo~est that this
<br />ordinance he'passed on its first re~iing this evening.#
<br /> AN ORDINANCE, Authorizing the borrowing of Three Hundred~and Seventy-five Thousand
<br />($3?5,000.00) Dollars, in anticipation of the collection of the revenue of 193~, and providing
<br />for the issuance of a note or notes therefor.
<br /> On motion of Mr. Maupin, ~he ordinance was placed on first reading.
<br /> 6th. "OomPlying with your request, made at the last Oouncil meeting, you will find at-
<br /> tached a statement of the 0emetez7 fund.
<br /> Mr, Barclay~has an ordinance whic~ will be presented for your consideration,
<br /> cording to the idea of the Councii in regmmd to the proper control of these funds. There is
<br /> additional detail, not contained in this statement, which can be furnished if necessary."
<br /> uIn 1892 the Council' bought additional ts~d for the Oak Grove Oemetery and issued
<br /> $15, OOO.00 worth of Bonds to payl for the same andstazted the Cemetery Fund, an& all money
<br /> received from the sale of lots shouldbe placed in this .Fund for the redemption of the bonds
<br /> issued for this Oemetery~ The bonds were called and paid for before they became due from
<br /> this fund. Since that' time the Fund has still remained, and all of the receipts from the
<br /> sale o~ tots mt~soontinued t~ be placedin this Fund.
<br />
<br /> 'In 1918 the City purchased what'is known~as the~'Parker Farm~ for $52~500.00 and se~
<br /> aside~40 acres of the same for 0emetery purp~sesand the balance for ap ark. The City then
<br /> bu~tt a bridge overBamu's 0reek connecting thms property with Westhaven. The cost of the
<br /> brxdge was $29,640.00 and $2,300~00 was expended for inspection, labor, e to. in addition.
<br /> For the payment of the purchase of the property and building of the bridge the following was
<br /> made:
<br />
<br /> From General F~nd of the City ............................... $50,000.00
<br /> From' Oemetery Fund ........................................... 3~440'.OO
<br /> Total, $8 , 40.00
<br />
<br /> A statement of the Cemetery Fund from January !, 1923, to April 15, 1930, is as follows:
<br />
<br />Oash on Hand Jan. 1, 6923.. . 38,166.00
<br />Rec'd. from Interest ........................................ 3,8?0.02
<br />
<br />$ 3,Y55.94
<br />
<br />Payments ................................. ~,865 36
<br />
<br />0ash Bal on hand April 15 1930 .
<br />
<br />Money was received as follows:
<br />
<br />$38,890.58
<br />
<br />8~le of lots in Olive Br~nch Cemetery;.; ..............................
<br />Less Amt. due on said Nots ...........................................
<br />
<br />.$35,577.00
<br /> 1,565.00
<br />
<br />Net .......................................... ........................ $34,O12.OO
<br />
<br />Payment for upkeep of lots in Oak Grove and 0edar Grove Cemeteries...
<br />
<br />2~000.00
<br />
<br />Sale of Lots andGr~ves in Oak Gro~e Cemetery ...... - -
<br />
<br />Total receipts ....................................................... . .
<br />
<br /> 2,1~.O0
<br />$38,166.OO
<br />
<br /> If $100.00 for each lot and the same rate. in proportion of lots and graves sold in ,ne
<br />0~i%%e Brach Cemetery was taken out of the Cemetery Fund and placed in a separate fund, it would
<br />mmount to. ~.; ................................................................. $20,810-.00
<br />
<br /> And money received from upkeep in o~her cemeteries ............ . ....... 2,000.00
<br /> Would make a total in the Upkeep Fund of ............................. $22,810.00
<br />
<br /> If $22,810.O0 were deducted from the Cemete~~ Fund and placed in a Perpetual Upkeep Fund,
<br />there would remain a balance in the Oemetery Fund of $16,080.58."
<br />
<br /> The following is the ordinance~ prepared by the Oity Attorney:
<br /> AN ORDINANCE, Providing
<br />fo? the segregation, expenditure, control, and-investment of cememery funds.
<br />
<br />On motion of ~r. Ogg, the ordinance was placed on first reading.
<br />
<br />UNFINISHED BUSINESS
<br />
<br /> The following communication from the ~'
<br /> ~ty~Manager, which had been laid on
<br /> Council April 8th until this meeting, wastaken up and read:
<br />
<br /> '"April 8, 1930.
<br />HoDorable City Council,
<br />'Portsmouth, Va ......
<br />
<br />Gentlemen:
<br />
<br />At vour last
<br />
<br />the table by
<br />
<br />
<br />
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