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Home My WebLink About11-17-45`'. ( ~~ Council minutes Pulaski, Va., ~~ovember 17, 1945 The Council of the Town of Pulaski, Virginia met in adjourned session tonight at 7:00 o~clock, November 17, 1945. There were present: mayor h. T. Eskridge, presidi~ig; PhESEiVT Lottie R. Bunion, clerk; x. M~.Gatewood, Director of rublic ~rorks, and Councilmen: 0. P. Jordan, 3 r., T. F'. Wirt, Howard R. I~ubocien, ~_~. b . ~rhite, r . h. 5eagle, I. n. Carper: Yr. D. trust and G. C. Hall. absent: None. I~hTER The ~syor stated that the purpose of the meeting BOiVD 15SU E was to hear the second reading of the proposed bond issue ordinance, the first reading having been heard at the special meeting of the Council held on i~ovember 16, 1945, and to take final action in the matter. O1~i111urVCE ~~hereupon, the Clerk read the ordinance, which is end FtEaDl~l G as follows: ORD1Ni~1VCE KECITTNG THE F~kPEDIENCY OF BORROWING i~UNEY ~D ' kU'I`HORTZING THE 1~5UhtuCE OF' F'1.VE HUIJDttED FIFTY THOUSt~tyD 1~OLLaTtS (~p550,000) Wti'I'.ER G~OtiriS t3UluDS OF' THE, TOWN OF PUL1~Sl~I, VIRG1Nlk Eii`YD THE BORROuuiillG Or` Ship SUS. Y~HEhEnS it is desired to provide for the improvement and ectension of the ~iaterworks System of the Town of Pulaski, Virginia, and 4~HF~1~iEhS the present uuaterworks of said Town is inadequate to provide for a water supply for said Town. Section 1. jt is hereby recitea that it is necessary and expedient that the Town of J~ulaski borrow money and issue its bonds in the amount of Five Hundred Fifty ,. Thousand Dollars (~550,000j which sum shall be used and expended for the improveu-ent and extension of the I~rater- works System of said Town by the acquisition of the necessary land and rights-of-way, the construction of an impaunding dam, Filter Plant, Pumping Station and in- stallation of water mains. Section ~. In order to effect said purposes there''; shall be borrowed and there shall be issued under the prod - visions of Chapter 1~~, Virginia Code of 194;x, bonds of the Town of Pulaski, Virginia, in the auYOUnt of Five ~~ Hundred Fifty Thousand Dollars 0550,000), to evidence thy! loan hereinabove ref erred to, which bonds shall mature in ' such annual installments over a period of Thirty (30) year~~s from the date thereof as shall hereafter be determined by the Council of said Town, and shall bear interest at the ~; rate of six (6) per centum per annum, or at such les~Br ~, rate or rates as may be determined by the Council at the time of the sale of said bonds. ,I Section ~. Said bonds are to be issued for the pu~~ose of providing the Town of Pulaski, Virginia with a supply ~, of water from which undertaking it will derive a revenue 1 d are to be issued under the provisions of Clause (b), Sec on 1~7 of the Constitution of ~irglnia, not to be included within the otherwise authorized irlaebtedness of said Town; provided, however, th~.t f'ro~u and df ter January 1st, 1951, anti for so long as such undertaki~ig fails to produce (~~ Council ~+inutes cont ~ d. Pulaski, Va. , ivov. 17, 1945 sufficient revenue to pay for cost of operation and administration (including interest on bonds issued therefor), and the cost of insurance against loss by injury to persons or property, anu an annual amount to be covered into a Sinking Fund sufficient to pay, dt or before maturity, all bonds issued on account of saia undertaking, said bonds outstanding shall be included in deter~uining the limita- tion of the power of said Town to incur indebtedness. Section 4. The ~a.yor of the said Town shall petition the Circuit Court of Pulaski County, Virginia, or to the Judge thereof in vacation, to enter an order in term time or vacation directing the proper election officers of said Town 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 suc~eding general election, or at a speci&1 election, the question of whether such bonds shall be issued, and requesting said Court, or Judge, to make and~e~er 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 the members of the Council upon the passage thereof, shall be made and Certified by the Clerk of Council to said Court or the Judge thereof in vacation. Section 5. ?'here shall be levied on all the taxable property of the Town of t'ulaski, Virginia, in each year while said bonds or any of them are outstanding and unpaid, an as valorem tax sufficient to pay the principal of and interest on said bonds as the same respectively become due and payable, provided, however, t~lat the amount of said tax to be levied in edcci year u+ay b reduced by the amount of net revenues received froru said ~~aterwrorks System and actually available for the payment of principal of and interest on said bonds due and payable in such year after the pa;~ment of the cost of operation and administration of said Vtiaterworks System, and the Cost of Insurance against loss by injury to persons or property. Section 6. This ordinance shall take effect irnrnedidtely. Otil,~iuh.tiGE after due consideration, on motion of Uouncilman HliUY`I Ell T. F'. vrirt, seconded by Councilman F'. ~. Seagle, the above ordinance was un«nimously adapted, by a recorded vote called for, a~ follows: hECUttUEL 0. P. Jordan, Jr. Aye VOTE T. F. ~+irt xye Howar d H. lmboden xye Vr. F'. ~rhite aye F'. ~s. Seagle kye 1. n. Carper dye 4~. ii. bust tiye G.C. Hall tiye Noes---None 1 1 1 ~ cont ~ d) '`~ "~?5 Council minutes contd. Pulaski, Via., l~ov. 17, 1945 The Council instructed the mayor to petition the - PETITION CirtCUIT Circuit Court for Pulaski County, which petition reads as CU~kT follows: (Form) ~tV1riGl1Vlti: IN THE ClRCu1T COURT FOH PU~,rSLl COUNTY To The Honorable John ~. Draper, Judge The undersigned, Town of Pulaski, presents and files herewith a certified copy of an Ordinance adopted by the Council of said town on tha 7th day of yyovember, 194, and which ordinance recites that it is necessary and ex- pedient that the said town do borrow X550,000.00 and issue its bonds therefor with interest and to mature as provided in said ordinance, and to be used and expendea f'or the improvement and extension of the ~~aterworks of said town. The undersigned requests th$t an election be ordered pursuant to the provisions of ~-hapter 1~.2 of the Virginia Code of 194,, as amended, submitting to the qualified voters of the town of Pulaski the question of contracting the said indebtedness for the improverent and extension of said tiraterworks system, issuing bonds therefor, and tn.e said election be ordered to be held as soon as practicable, and that all things necessary and proper. may be done to this,, end. Respectfully submitted, TOV~1~ OF YuLrS~I, V1RG11Ulti HY -- - - - ~ayor " .SCi3EDi~LE The director of public works was asked to make up I~VEur ~rr,TER HhTES a shedule of new water rates to cover the operating and debt charges on the proposed new water system. bUiLlili~iU in the matter of building applications of H. E. P },~itfillT ~ i H. ~.. t.U ~T must ana tcobert Hall, taken up at the i`~ovember 16th meeting _i ttOb T . ~ eaLL of the Council, the following revisea applications were submitted: h. E. rust: for cinder block dwelling, covered with asbestos shingle siding, two-story, 6 rooms, complete with bath - hardwood floors - central hot air heQt - on the south side of rico 't`errace, betv~een East main 5t and Peppers Ferry Woad, to cost X4500.00. ~iobert Hall: for concrete and asbestos shingle siding dwelling, ~~~story, a', 7 rooms and bath - hardwood floors - central hot air heat, on the south side of t'ico erre.ce, between East main fit. ands; ~, •~ Peppers Ferry Woad, to cost ~y5,000.v0. Both applications xi '736 Council Minutes cunt d. ~'ulaski, Va., Nov. 17, 1945 calling for composition shingle roofs. i~fter consideration, on motion of T. F'. ~~irt, seconded by F. ~. Seagle and unanimously. passed, the two said building permits were granted, as re-submitted. C ~,llJOU ~N- ~u~1VT There being no further business, the Council add ourned at 8= 00 1' . ~. approved: Mayor ~TT~ST: Clerk of Council