Loading...
HomeMy WebLinkAbout06-29-71`~~=~. Minutes of a Special Called Meeting of the Pulaski Town Council, held June 29, 1971, at 4;30 P. M. in the Municipal .. ., Building. There were present: Mayor C. Robert Edens, presiding. Councilmen: Mason Vaughan, A. L. Graham, J. H. White, S, G. Frye, Glen Aust,.J. Congrove Also present: Town Manager: J. E. Marshall Town Attorney: Garnett S. Moore Acting Clerk: Doris F. Graham Visitors: Sane Graham, Reporter Southwest Times June 28, 1971 S P E C I 9 L C A L L There will be Special Called Meeting of the Pulaski Town Council on Tuesday, June 29, 1971, at 4.:30 P.M. in the Municipal Building for the purpose of adopting resolutions outlining the borrowing of certain moneys from the Water F}znd to the General Fund. There will be another resolution for adoption ~ut- lining transferring of a part of the unappropriated. surplus in the General Fund to the General Fund proper. Both of the above resolutions will bc~ in cone-unction with the construction of the new Municipal /Building. r~ • a~~%-~r'~~~Y ayor ~~~~§ ~ J~d~re 29 , 1971 Mayor Edens called the meeting to order at 4:30 P. M. The invocation was given by Mayor Edens. Mr. Marshall, Town Manager, stated there were two Resolutions which needed to be decided upon. He presented the Resolution authorizing a loan from the Water Fund of the Town of Pulaski, Virginia, to the General Fund, providing payment, etc. Councilman Vaughan moved that the Resolution be adopted. The motion was seconded by Councilman Aust, and carried on the following recorded vote: Glen K. Aust - aye J. L. Congrove - aye S. G. Frye - aye A. L. Graham - aye Mason Vaughan - aye J. H. White - aye Wm. A. House - absent Raymond Ratcliff - absent Resolution as follows: RESOLUTION AUTHORIZING A LOAN FROM THE WATER FUND OF THE TOWN OF PULASKI, VIR- GINIA, TO THE GENERAL FUND, FROVIDING PAYMENT, ETC. BE IT RESOLVED by ,the Council.. of the Town of Pulaski, in Special Session on the 29th day of June, 1971, that: (1) The balance in the Water Fund of the Town of Pulaski is of a sufficient amount to enable the fund to loan to the General Fund of the Town of Pulaski the sum of One Hundred Fifteen Thousand Three Hundred Sixty Nine Dollars ($115,369.00)- without depleting same to a point RESOLUTION below that which is required by the terms of the Bond AUTHORIZINGAgreements of said Town, LOAN FROM WATER FUND (2) That the Council is of the opinion that a loan TO GEN. to the General Fund is necessary so the Town will have FUND funds to meet expenses of the Town incurred in connection with the construction of the new Municipal Building, and that funds for the aforesaid purpose are not available in the General Fund of said Town at the present time, THEREFORE, BE IT RESOLVED, that the Treasurer of the Town of Pulaski transfer from the Water Account the sum of One Hundred Fifteen Thousand Three Hundred Sixty Nine Dollars ($115,3.69.00) to the General Fund Account for the use by the Council of the Town of Pulaski for General Fund ex- penditures in connection with the construction of the Municipal Building; and the Town of Pulaski by this Resolution obligates the General Fund to repay from the General Revenues of the Town to the Water Fund over the next ten (10) years the of oresaid sum of One Hundred Fifteen Thousand Three Hundred Sixty Nine Dollars ($LL5,369.00) together with interest at the rate of four per cent C4%) per annum; that the aforesaid sum shall be repaid in at least annual installments with the entire sum, together with interest at four per cent (4~) per annum to be paid in full by or bef ore the 29th day of June, 1981; that the Council may anticipate and pay the entire balance, or any part thereof, at any time the Council may direct, so long as it is paid in full by or before the 29th day of June, 1981. r i Y f Juh.~ 29, 1971 It is further directed by the Council that this Resolution be made apart of the minutes of this meeting, and that a certified copy thereof be filed with the records of the Water Fund as evidenee~of the indebtedness. Councilman Frye presented Resolution directing the Treasurer to transfer the sum of $282,370.00 now in surplus, to the Capital TOWN TR EAS . DIRECTED Outlay account to be applied to the costs as they accrue and be- TO TRANSF ER $282,370. come payable, for the construction of the new Municipal Building TO CAPITAL OUTLAY located on the north side of First Street, N. W. at the old Bushong ACCOUNT Morot Corporation site. Mr. Frye moved this Resolution be adopted. The motion was seconded by Councilman Aust, and carried on the following recorded vote: Glen K. Aust - aye J. L. Congrove - aye S. G. Frye - aye A. L. Graham - aye Mason Vaughan - aye J. H. White - aye Wm.A. House - absent Raymond Ratcliff - absent Resolution is as follows: BE IT RESOLVED by the Council of the Town of Pulaski, Virginia, meeting in regular session on this 29th day of June, 1971, that: J. Lloyd Patterson, Treasurer, is hereby directed to transfer the sum of $282,370.00-now in surplus, to the capital outlay account to be applied to the costs as they accrue and become payable, for the construction of the new Municipal Building located on the north side of First Street, North, at the old Bushong Motor Corporation site. Mayor Edens asked if there was anything else to be discussed. There was addiscussion held on the new Retirement Plan, but no action was taken other than Travelers be contacted to present a detailed proposal. There being no further business, the meeting was adjourned at 5:17 P. M. APPROVED: r .~ ,~.-~ U f Mayor Edens ATTEST: 0 a Acting Clerk of Council