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HomeMy WebLinkAbout11-16-45~t~® Council minutes Pulaski, Virginia, 1Vov. 16, 1945 The Council of the down of Pulaski, Virginia met PRESE;IVT in ~peeal session this afternoon at 4:00 oiclock, November 16, 1945, at the ~ayor~s office. There were present: mayor a. `l. Eskridge, presiding; Lottie R. Bunion, Clerk; a.~~i. Gdtewood, Director of rublic 4~orks, and Councilmen: 0. P. Joraan, Jr., T. F'. Wirt, Howard R. Iz~boden, 4y. F. ~~hite, r . a. Seagle, I. R. Carper, W.D.kust and G.C. Hall, tibsent: None. 'The reading of the ~-anutes of the regular meeting held on November 8th was dispensed with. J. F. Spencer and N. C. Carlton, residents of Bi11LL1NG PLs~1T S Pico Terrace, having objected to the issuance of building permits to H. E. gust and Robert Hall at the November 8th meeting of the Council,dppeared before the Council, stating their oojections. also, Messrs. trust and Ha11, being present, explained more fully their intentions regarding the buildings. after general discussion, on motion of H. R. Imboden, seconded by ~~. r . +Nhite, and unanimously action on passed,/the twa said permits granted at the Itiovember 8th meeting was rescinded, and the applicants asked to re-submit applications, setting far~sin detail plans, house design, estlm~~~d.cost, etc., which they agreed to do. The mayor stated that the meeting had been called for the purpose of considering a proposed ordinance in connection with the proposea Bona Issue Election. YVhereupon, the following ordinance was heard on its first reading: WkT~;R aN OFtDTiua1~1CE i~ECTTTNG THE Ex.PED.LENCY OF BOI~'t0'u~i~1G ~:OL~EY,•t-AND BUND t~UTHOHIGING THE TSSUaNC~; OF FIVE HUi~llttr;D F'IPTY THOUSaI~iD 15~UE DOLLxRS (~v550,000) Yu•hTEL~ YyOttKS BOt11i~S OF' THE TUY'~iV OF PULASKI, ORDIiVEu~CE VThGiNrk x1Vli TiiE BO~iFtOuu.tldG OF Sh1D SUm. (First Ni~iEREtiS it is desired to provide for the improvement Reading) and extension of the Waterworks 5y stem of the Town of Pulaski, Virginia, and IfuHE%iEaS the present fNaterworks of said Town is inadequate to provide for a water supply for said Town. 1 1 1 _. (cont~d) Council Minutes contd. [~ ~! ~; Pulaski, Va., j~ov. 16, 1945 _ ~ -,-- ~~ ' y+hT~,R BOND Section 1. jt is hereby recited that it is necessar* ISSUE and expedient that the Town of Pulaski borrow money and ORL71v.~"GCE issue its bonds in the amount of Five hundred Fifty (cunt d) Thousand llollars 0550,000) which sum shall be used and expended for the improvement and extension of the u~ater- works System of said Town by the acquisition of the necessary land and rights-of-vray, the construction of an impounding dam, Filter Plant, Pumping Station and in- stallation of water mains. Section 2. In order to effect said purposes there shall be borrowed and there shall be issued under the pro- visions of Chapter 122, Virginia Code of 1942, bonds of the Town of Pulaski, Virginia, in the amount of Five hundred Fifty Thousand Dollars 0550,000), to evidence t}~~e loan hereinabove referred to, which bonds shall mature i~.' such annual installments over a period of Thirty (30) years from the date thereof as shall hereafter be determined b~ the Council of said 't'own, and shall bear interest at the rate of six (6) per centum per annum, or at such lesser rate or rates as may be determined by the Council at the time of the sale of said bonds. Section 3. Said bonds are to be issued for the purpdse of providing the Town of Pulaski, Virginia with a supply of water from ~0~ undertaking it will derive a revenue and are to be issued_une~er the provisions of Clause (b), Secftxon 127 of the Constitution of Virginia, not to be included within the otherwise authorized indebtedness of said Towrlr provided, however, that from and after January 1st, 1951 and for so long as such uindertaking fails to produce sufficient revenue to pay for cost of operation and administration (including interest on bonds issued there~'br) and the cost of insurance against loss by injury to persdhs or property, and an annual a~aount to be covered into a Sinking Fund sufficient to pay, at or before maturity, alb. bonds issued on account of said undertaking, said bonds outstanding shall be included in determining the limita-~' tion of the power of said Town to incur indebtedness. Section 4. 1'he tuayor of the said '1 own shall petitid2i the Circuit Court of Pulaski County, Virginia, or to the; Judge thereof' in vacation, to enter an oraer in term time' or vacation directing the proper election officers of sand 'T'own to take such steps and prepare such means as may be. necessary to submit to the qualified voters of said Town, either at the next seeding general election, or at a special election, the question of whether such bonds sha be issued, and requesting said Court, or Judge, to make and enter such order as may be necessary to authorize the holding of such election, and to make such order as may be proper to give due publicity to such election, and a ; copy of this ordinance, showing the recorded vote of they members of the Council upon the passage thereof, shall b~~ made and Certified by the Clerk of Council to said Court'' or the Judge thereof in vacation. Section 5. There shall be levied on all the taxabl property of the Town of Pulaski, Virginia, in each year while said bonds or any of them are outstanding and unpaid, an ad valorem tax sufficient to pay the principal of and interest on said bonds as the same respectively become d ' and payable, provided, however, that the amount of said x to be levied in each year may be reduced by the amount of net revenues received from said ti~aterworks System an actually available for the payment of principal of and E interest on said bonds due and payable in such year afte the payment of the cost of operation and administration of said ~~aterworks System, and the Cost of Insurance aga'~st loss by injury to persons or property. pi (cunt ` a/ ~~~ C Council minutes contd. Pulaski, ya., 1WOV.16, 1945 Section 6. 'jhis ordinance shall take effect immediately. 11llJ0UNN- There being no further business the Council ~uENT adjourned at 6:UO P. ~. to meet on Saturday, November 17, 1945 at 7:00 P. 1ui., to tear `the- secanc~= reading=' of the Viand issue crdr~ance, and to take final action. approved: ay o attest: _~ Clerk of Council 1 1 1