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December 13, 1927 <br /> <br /> At a regular meeting of the Oity council December 13th there were present: <br /> <br /> Messrs--Vernon Brooks, J. O. Dunford, E. W. Naupln, Jr., <br /> Arthur Mayo, J. Alden 0asr, J. Ri Stewart, <br /> L. G~. ~nite, ?. <br /> Also the Oity Manager. <br /> The minutes of the regular meeting November 22nd were read and were approved. <br /> The Oommittee of the Whole of the Oouncil presented the /following ordinance: <br /> An Ordinance for Imposing and Oollecting Taxes on Real. Estate, Tangible Personal Property, <br />and Machinery l~ithin the Limits of the Oity of Portsmouth, Virgin_ia, form the Purpose of Raising <br />Revenue for the Support of the Government' and the Public Free Schools, and to Pay Interest and <br />Sinking Fund on the Public Debt, for the Year Beginning January let, 1928. <br /> Mr. White suggested the tax rate for 1925 be made $2.6S, and moved that the ordinance be <br />placed on first reading. The motion was adopted. <br /> The Oommittee of the Whole of the Council also presented the following ordinance; <br /> An Ordinance of the Budget Appropriations for the Oity of Portsmouth, Va., for the Year <br />19~8. <br /> On motion of Mr. Maupin, the. ordinance was.~placed on first rsadiug. <br /> The reports of the City Treasurer, 0ity 0ollector, and City Auditor, which had been approved <br />by the City Manager, were presented. <br /> On motion, the reports were received and ordered to be filed. <br /> <br /> The followl_ng communications were read from the City Manager: <br /> "I would lik~ to have permission to negotiate a $600,000. sale of not to exceed twelve- <br />month city notes ~t a rate ~f interes.t not to exceed.. 4 1/2~.:. Our.nee.ds, .in~ludin$_the money <br />which is due at the local b-bus, on whzch we ~e pay~g 5 1/~, approximate aoout $~00,000. Ny <br />impression is that this loan should be neg~tiated by .J.anuary let. You will note that this figure <br />represents a considerable saving over the last at ~.~5~- I do not know if it will be possible <br />~for me to do better, but inasmuch as they are not to exceed twelve months notes, ! con~ider <br />this a very good offer and was afraid if I did not call it to your ~ttentlon at this meeting, <br />so that some action could be taken, we might not b· able to get this figure at-a late= date, <br />a~ no ~ne knows what the money market will be .after January. This is a definite offer which <br />I can Close with interest payable at maturity. <br /> <br /> N=. White moved that t. he City Manager be authorized to borrow $600,000.00 at a rate of <br /> ~nterest not to exceed ~ 1/2% for current expense, s for 192~. <br /> The motion was adopted. <br /> <br /> In this connection, ~. White moved that the following ordinance be placed on first reading: <br /> <br /> An Ordinance Authorizing the Borrowing of Six Hundred Thousand Dollars, in Anticipation <br /> of the Revenue for the Year 192S, and Providing for the Issuance of a Note Therefor. <br /> <br /> 2nd. "In acoor~-uce with the ordl ~nance which provides for the return of fees collected <br /> for Highway work, please allocate $300.00 to a=count 5~B, O-~, "Material for Repair~s. to Side- <br /> w-~lks.# There is now due the Highways accounts from ~eez collected the amount of $650.0y, but <br /> o~ly $3G0.00 will be requ/re~ to complete the year, Kindly make this~appropriation available <br /> at this meeting." <br /> <br /> On motion of Dr. Dunford, a special appropriation of $650.0? was allowed for Repairs to <br /> Sidewalks, Material, fee~ collected for Highway work; and by the following vote: <br /> Ayes-- Brooks, ~ford, Maupin, Mayo, Oast~, Stewart, White, ?. <br /> <br /> ]rd. #Attached is a letter from Mr. George Shafer, President of the Norfolk and Portsmouth <br /> Belt Line Railroad Company, stating that i~ is the intention of the Belt Line in the near future <br /> to erect safety g~tes on ~the George Washington Highway where it crosses the Belt Line. <br /> <br /> As the-center of the Highway is the dlvidin~ line between the City of Portsmouth <br /> and Norfolk. County the Railroad Oomp_~y is askir~g permission from the Council of the City of, <br /> Portsmouth~and: the Board of Supervisors of Norfolk -Oounty to erect safety gates. <br /> <br /> Personally, I feel that gates would be desirable at this point, as it is a very <br /> dangerous crossing. # <br /> <br /> Dr. Dunford moved to concur in the Manager' s recommendation, and that the Norfolk and <br /> Portsmouth Belt Line Railroad Company be permitted to erect safe~y gates at the designated <br /> point. The motion was adopted. <br /> <br /> ~th. #Sometime ago, the Council referred to me the matter of pensions. I have gone into <br /> it thoroughly and find thata good many cities have pensions similar to ours for the members <br /> of the Police and Fire Departments, and few cities have made any provision for pension of other <br /> city employees. ! am herewith submitting for your consideration a pension plan which is practl- <br /> cally the same plan ~thich is in operation by 90,000 U.S. Government employees in Washington. <br /> Seven copies of the proposition are attached, so that each member of the Council may have a copy <br /> for s~=dy." <br /> On motion of hLv. Maupin, the matter was laid on the table until the next regular meetln~ <br /> of Council. <br /> <br /> <br />