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Eover~ber 1S, 192~
<br />
<br /> and the County of Norfolk, the sum of Six Thousand Dollars, wh-ich is to be repaid to the
<br />L~nited States Housing Corporation; with interest at. the rate of five per centrum per annu~,
<br />from the date of its advancement until paid~, and ~¢nich is to be kno~ as the "Pearl Street
<br />Encroachment Debt," said sum to be repaid to the United States Ho~sing Corporation in full;
<br />without being subject +~o appraisement, off set or other deduction at the time final settlement
<br /> is m~de between the said City of Portsmouth and ~the County of Norfolk, an~ the United States
<br /> Housing Corporation of the indebtedness of the City and County to the United States Housi~
<br /> Corooration under the said contract of October 8th, 1918, and said Pearl Street Dock Encro~ch-
<br /> men~ Debt sh~ll be considered as one of the debts~due to the United States Housing
<br /> tion by the City of Portsmouth, s~ud theOounty of.~orfolk, under zaid contract of 0ctobe~ 8th,
<br /> 1918, and to be subject to the terms and conditions of s~id contract, so far as appli*~ble,
<br /> except that the s~id debt sh~ll not be subject to appraisal, and that the United States Hous-
<br /> ing Cor~poration sh~ll be ant~rized to pay to itself from the balance of the net profits of
<br /> said Ferries as set forth in clause ~ of said contract of October 8th, 1918, the inte, est
<br /> due on said debt ~nd the full ~mo~at of the principal thereof, ~nd not pro rata in the propor-
<br /> tion tD~t each o~ the debts enumerated in the contract of October 8th, 19lS, bears to the
<br /> total indebtedness mentioned in the said contract.
<br />
<br /> 2, The Ci~y of Portsmouth ~nd the County of Norfolk hereby agrees to rely to the United
<br />States Housing Corporation tbs said su~ of Six Thous~nd Doll~rs,-~th i~terest at the rate of
<br />five per centum per ~nnum/ from the dmte of its ad~ucement mntil paid, in the ~ner men-
<br />tioned ~oove,~and that it shall be entitled to all of the'liens on the receipts and property
<br />of the Ferries given by said contract of October 8th, 1918, for the indebtedness mentibned
<br />therein.
<br />
<br /> ~. It is mutually agreed between the oartiem hereto that this agreement is to be con-
<br />sidered as b~ing supplemental to said contract of October 8th, 1918.
<br />
<br /> IN WIT~ESS WHE~EOF the United States Housing Corporation h~s caused these presents to be
<br />signed in its n~ne~ by Robert ~tson, its President, and its corpo~te seal to~ be hereto ~ffix-
<br />ed, attested b yH. V. Euul, its Secretary, and the City of Portsmouth h~s coursed these pre-
<br />sents to be executed in its name by R.A. Hutchins, Jr., the President of the Council bf the
<br />City of Portsmouth, and. its corporate seal hereto affixed, attested by L. C. Brinson, Clerk
<br />of said Council thereunto duly authorized by r~solution o~ said Oouncil, passed on the
<br />day of , 192~, and the County of Norfolk h~s caused these presents to be executed
<br />in its na~e by C. L. 01d, Chai~n of the Board of Supervisors of the County of Norfolk,
<br />and the seal of s~id Board of Supervisors to be berets affixe~, attested by G. Tayloe Gw~th-
<br />mey, Clerk of ss~id Beard of Supervisors, thereunto duly authorized by said Board, passed
<br /> all in triplicmte the day and year first above written.
<br />
<br />UNITED STATES HOUSING O0RP0~W~TI~N
<br />
<br />ATTEST:
<br />
<br />Secretary
<br />
<br />ATTEST:
<br />
<br /> Cle~'"~f Council.
<br />
<br />~%TTE ST:
<br />
<br />By
<br />
<br />CITY OF POP~S~0UTH,VIRGINIA,
<br />
<br /> President of Council.
<br />
<br />BY
<br />
<br />COUI~V~ OF N0~0LK, VI~G~I~,
<br />
<br />Ch~ir~n of Board of Supervisors,
<br />County cf Norfolk.
<br />
<br />Clerk of Board of Supervisors."
<br />
<br />T~e following comr~uications were read from the Cm~y Es~u~ger.
<br />
<br /> !st. "I ~n transmitting herewith budget sheets covering the operation of the Water De-
<br />partment for 192&. SligD~ increas~ ~re reco~ended in the compensation of ~wo engineers,
<br />a filte~r~n, three inspectors ~nd six clerks. This increase for the clerical force will bring
<br />them in line ~ith the s~larie~ p~id in other departments ef the City ~ver~ment. It ~y~ be
<br />~ell t~ p~int out t~t the clerical employees of the ~a~er Department work eight hours a day,
<br />whereas e~ployees ~n all other dep~rtments of the City work only seven.
<br />
<br /> The estimated expenditures aggregate $~0~;817.00. The estimated receipts includ-
<br />ing $20,000~00 ih interest amount to $~2~,~90.00, giving an excess of r~ceipts ever expendi-
<br />tures of about $1~,000,00. From this excess, it is proposed to expen& $9,8~0.00 for new
<br />meters. The balance will undoubtedly be required ~er capital expsnditurss' in the s~h~pe of
<br />hydrants, new m~ins, etc. ~Any l~ge e-xpenditure like ne~ mains to West Norfolk~or to Port
<br />Norfolk must be preMided for from other sources." ~
<br />
<br />On motion, the co~m~unication and budget sheets were r~ferred to theFinance Con, nj%tee.
<br />
<br /> herewith co~m~uication from the Executive Secret~ry of the Ports-
<br /> 2nd. "I ~m forwarding ~
<br />mouth Ch~ber of Commerce relative to our proposed building code. He is of the~ opinion that
<br />its passage ~ould go a long way toward eliminating sons of our b~d fire risksL The ord~inance
<br />adopting this code has already passed its first reading an~ I recommend that~it be ado~ted."
<br />
<br />~. 0asr moved that the communication be referred to a special meeting to be called by
<br />
<br />
<br />
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