Minutes 02/26/1929 - Laserfiche WebLink

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In 1927 the State took from us all Intangible and Bank Tax and re!es~sed to us the 25¢ R. E. Tax on the $1OO.OO valuation formerly levied by State. This 255 would have made our Tax Rate $2.75, without increasing taxes. We levied a Tax Rate of $2.70 whi'ch was really decrease in the Tax Rate of 5~ on the hundred dollars or of $17,GOO.OO- In 1928 the Tax Rate was reduced to $2.65 or a reduction of 5~ on the hundred dollar valuation or of $17,OO0.00. This means that in two years $51,O00. has been saved tb the taxpayer." Mr. O~et moved that the $58,719.28 surplus for 1928 be allocated as follows: $44,600.00 to be. paid t~e Capital ~Funds.~n~a~.ou~.? bo~r~?d from said funds prior to 1928, and the balance of $1~,119.28 to be paia on ~ne m±oam~ng aec . The me,ion was adopted, and by the following vote: Ayes-- Brooks, Dun~ord, Maupin, Mayo, Oast, Stewart, Ogg~ Nr. Cast moved that the $35,~50.00 received from sale of the Jail Lot in 1928 be applied to ~he amount due the SinkiDg Fund for 1925. The motion was adopted, and by the following vote: Ayes~ Dunford, Maupin, Mayo, Oast, Stewart, Ogg, 6. Nays~- Brooks, 1. UNFINISHED BU~INE$~ The following~ommunication from the Oity Clerk & Auditor, whi.ch had been ~aid on the table by Council February l~th until this meeting, was taken ~ s~d read: "Portsmouth,Va.,· January 24, 1929. Hone=able City Council, Portsmouth,.V~. Gentlemen:- The following bonds will be due during the Year 1929: Redemption of Paving Bonds, Ss, due June l, 1929. ................. $25,0OO.00 Sewer and Paving Bonds, ~s, due April l, 1929 ..................... $37,ooo.oo I would suggest that the Sinking Fund be aske~ to pay the Redemption of Paving Bonds due June Ist, and that the.$12,0OO.OO Sewer'& Paving Bonds due April 1st be paid. out of the G~neral FUn~, as the same is. a serial bond, ca~ries no sinking fund requirement,' and should be paid on maturity. Very truly yours, ~ O. BRINSON, 0ity Clerk & Auditor." On motion of Dr. Dunford, the Sinking Fund was ~sked to pay the $25,000.00 Redemption of Paving Bonds and the $12,000.OO of Sewer & Paving Bonds authorized to ~e paid out of the General ~tmd; and bythe following vote: .Ayes-- Brooks, Dunfor~, Maupin, Mayo, Cast, Stewart, Ogg, The following communication from the City Manager, which h~d been laid on the table by Oouncil February 12th until this meeting, was taken up and read: "February 12th, 1929. Honorable City Oouncil, Portsmouth, Va. j Gentlemen:~ Attached you will find application from the American Oil Oompany for permission to erect at-their plant loeate~ at~500 Oou-nty St., one 20,000 gallon storage tank. They now h~ve a~ this location three storage tanks of the same capacity. This location has been pre~ viously passed on by the Council as a suitable plaoe~or oil storage and I see no reason Wh~ permission should not be granted. Fire I~spector Shannon and myself have visited the premises. The property of the Oil Oompany is immediately adjacent te the Belt Line Railroad tracks and it will not be necessary for them- ~o ae.~aire any f~rther proper~y, as the location of the prtposed tank adjoins that of the other three tanks. I therefore recommend that this permission be granted by the Council, the tank to ~be e~eotedun~er the supe~ision of the Fire Inspector and in conformity with ordi- nance covering erection of oil tanks. Yours very truly, Frank C. H~ar~han, City Manager." up. and On me,ion of Dr. Dunford, the recommendation of the Manager was concurred in. THe ~i. cense Tax Ordinance, which had been laid on the table until this meeting, was taken Mr. Ogg moved that the tax on privmte automobiles be made $10.00 for 22 horse power or less, $15.OO for over 22 horse power, same to be -in lieu of all other tax. The motion was adooted.