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December 29, 1919
<br />
<br />At an adjourned spec~t meeting of the City
<br />
<br />Council December 29t.h there were
<br />
<br />T. A. Bunting, W. H. Culoep~er,
<br />J. T. Harvey, C. H. Herbert, E.
<br />Also the City Nanager~
<br />
<br />C~ D.
<br />H. Wright,
<br />
<br /> Whereupon, the Finance Department stated
<br />at a meeting to be held tomorrow night.
<br />
<br />tbmt the
<br />
<br />Budget would be ready to be
<br />
<br />~ecommended
<br />
<br /> Then the Finance Department n~de the following report on sale of $300,000.00 City of Ports-
<br />mouth Bonds:
<br /> "BE IT RESOLVED, T~a~ $300,000.00 City of Portsmouth, Va., improvemeSt BOnds
<br />Lug interest.at the rate of ~ 1/2 per centt~ per annum, to be paid t~bree years after date, be
<br />issued,f$~0~000.00 for the purpose of building a school for the ne~oes and $200,000.00 for
<br />street L~provements~~
<br />
<br />0~ ~otion,
<br />
<br />the resolution was adopted by the
<br /> Deans
<br />
<br />following vote:
<br /> 'Ayes-- Bunting, Culpepper,
<br />Hanvey, He,bert, Weight, 6.
<br />
<br /> The C0nm~IttSe pePo~d-bhat they had ~eceived bids fo9 the sale of $300,000~00 51/2%,
<br />~ year Improvement~bo~s f~Tm Hornblower & Weeks, New York, Silverman-~..ck-& Co.,0i~ci~na~f,
<br />Ohio, and A. B.~Leach & Co., New York.';~and .th~.t the' bid-of A. B. Leach &'Co'. was the highest'
<br />and best bid received. We therefore recorm~end that &~ard-,be~made to A. B. Leach & Co. for pa~
<br />a~d accrued interest, less $~SO0.00 for legal and other expenses.
<br />
<br /> 0n~motion, the recor~endation.of the .Finance Department was ad. opted, and by the follow-
<br />L~g vote:
<br /> Ayes-- Bunting, Cuipepper, Deans, Hanvey, Herbert, Wright,
<br />
<br />~ The FLu~eee Department .presented a petition from t~e Virginia Railways& P0w~r ~C0mpa~
<br /> cernLug.~axe? ~n ~e~tain prop?r~y. ~hich ~ ~_e. ro~o~sl~ r$po~d, as in t~e Wes~
<br />~¢h ~sterial- ~ . Die,mot, in wnzch_ %~y asset. %ne. oo~cmz'. %o ~%ruc%_ the.. Cit~ ~"C011~ct~ ~nOtm
<br />to impose ~ ~nalty on said Co~any's ta~es ~til ~the Fm~nce Co~tttee s~tl ~ve ~
<br />t~ity to ~ke t~e m~t~r up with the Co~lssi~er of the Reven~ and determ~ the question
<br />at ism~ ·
<br /> ~ motion, the matter was referred to t~ F~ce De~-t~nt and the ti~ for
<br />of the taxes in q~mti~ was extended to Monday, Jan~wy 8th.
<br />
<br />P.M., to consider the Bt~iget'for 1920.
<br />
<br />motion,
<br />
<br />adjourned to meet December ~0th at ~:30
<br />
<br />December 30th, 1919
<br />
<br />At an adjourned special mee$ir~ of the City Council..Decemb. er ~0th there were present:
<br />
<br />~essrs--
<br />
<br />T. A. Bunting,
<br />C. D. Deans, J. T. Hanvey, C.
<br />E.~H. ~right,
<br />Also the City
<br />
<br />H. Cu!pep~er,
<br />H. Herbert,
<br />
<br /> Whereupon, the Fina~ce Department presented the following Bt~get of Anticipa~d Receipts
<br />a~d Disbursements for the Yea~w 19B0, and same was-adopted:
<br />
<br />1920 Levy
<br />1919 Levy-
<br />1~!8 Levy
<br />191~ Leery
<br />191~Levy
<br />Back Tax
<br />Interest on Tax
<br />Panalty
<br />Advertising
<br />Fines and Co,ts
<br />~arke%s
<br />
<br />1920Levy
<br />1919 Levy
<br />Interest
<br />Penalty
<br />
<br />$390,000.00
<br /> 55~000.00
<br /> 15~000;00
<br /> 8~000.00
<br /> 5;0OO.00
<br /> 5,000o00
<br /> V,O00.O0
<br /> 5,000~00
<br /> 400.00
<br /> 15,000.00
<br /> ~ ~Z, 4qO .00
<br /> $504,800.00
<br />
<br />ANTICIPATED RECEIPTS FOR THE CITY PROPER
<br />
<br /> Brought Forward
<br /> Ground Rent
<br /> Defining Lines
<br /> Bdr~ai Permits
<br /> Opening Streets
<br />
<br /> Cemetery Fee
<br /> Licenses
<br /> Electrical Fees
<br /> Building Fees
<br /> State Capitatiun Tax
<br />
<br />ANTICIPATED RECEIPTS FOR THE; EIGHTH NARD
<br />
<br />$
<br /> I0,000.00
<br /> ~o0.00
<br /> · 100.00
<br />$ ~5, ~00 o00
<br />
<br />Bro~ht Forward
<br />Advertising
<br />Licenses
<br />
<br />Total,
<br />
<br /> 3~000.00
<br /> t00.00
<br /> 800.00
<br /> !~00.00
<br /> 8V,600.00
<br /> 2;400;00
<br /> tt5~000.00
<br /> 1;500.00
<br />
<br /> ~OOG, OO
<br />$?03~000.00
<br />
<br />45,400.00
<br />20;00
<br />5,$O0oO0
<br />51,220.00
<br />
<br />
<br />
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