03-17-1947 Mnutes
VIRGINIA: At a meeting of the Board ot Supervisors
of Chesterfie ld County, held at the Court-
house on March 17, 1947, at 10:00 a.m.
Present:
H.L. Chalkley, Chairman
J .G. Hening
H.T. Goyne
W.A. Horner
P.W. Covington
T.D. Watkins
This day Mr. J.G. Hening, stated that it had been decided that the Fair Association
would request the Board of Supervisors to modity a resolution passed by them on
December la, 1946, regarding the control ot the property on the Fair Grounds.
Upon consideration whereot, and on motion of J.G. Hening, it is resolved that the
control of the Fair Grounds' property be left in the hands of the Exeoutive Secretar
and the Manager ot the Fair Association unless some other matters came up which were
beyond their control, at which time it should be referred to the Buildings and Groun s
Committee.
And be it further resolved that the Exeoutive Seoretary be and he hereby is instruct
ed to turn on the eleotric current on the Fair Grounds and send the bill to the
Chesterfield Fair Assooiation
This day the matter of the sale of revenue bonds for the purpose of raising money to
develop, extend and operate water systems in Chesterfield County was brought before
the Board, and a full discussion of revenue bonds wi~h Mr. Willis of the ~irm ot
Soott, Horner and aason, Bond Buyers, Mr. R. ' Stuart Royer, and Mr. Eddie Ruhl of the
R. Stuart Royer Associates, Consulting Engineers, ensued.
Upon eonsi4eration ~ereot, Mr. H.T. Goyne offered a resolution that the matter be
carried over to the next meeting of the Board, which motion died tor the want of a
second.
llhereupon Mr. J .G. Hening, moved that the Commonwealth's Attorney be instruoted to
pre~are a resolution to Judge J. Garland Jefferson to call an ele9tion for the sale
of 1500,000.00 o~ revenue bonds, which was submitted as follows:
y~, by an Act of the General Assembly of Virginia at its 1946 session, Chapter
175 thereot, the Board of Supervisors ot Chesterfield County, Virginia was vested
ith the power and authority to construct, reconstruct, maintain, alter, improve, ad
to and operate water supply systems in the said County of Chesterfield, and in con-
ection therewith to contraot for a loan or loans and to issue bonds of said County
on the credit ot, the County and/or bonds of the said County, the payment of which
the net revenue from the sale of water from any such water supply system or systems
shall be obligated and appropriated and for which the credit of any such County shal
not be Obligated, to an amount in the aggregate of not exceeding eighteen per centum
of the assessed value of all real estate in said County subject to local taxation,
and
VHEREAS, it appears from said legislative Act that this Board can issue bonds known
enerally as "revenue bonds" for the purposes set out in said Act, to evidence the
ebt contraoted in any suoh loan, and where the requirement for the repayment of sai
loan is that the net revenue from the sale of water from any such water system or
systems will be set aside for suoh purpose, and that the credit of the County cannot
be obligated tor such purpose, and
HEREAS, it appears neoessary that water systems be constructed and operated in said
County and in order to speedily do so it is necessary to contract for a loan tor tha
purpose.
ON CCNSlDE.RATION viHEREOF, and on motion of J .G. Hening, it is resolved by this
Board that water systems be constructed, acquired, reconstructed, improved, maint-
ained, operated and extended in the County of Chesterfield and that this Board peti-
tion the Judge of the CiDcuit Court of the County of Chesterfield, Virginia to call
a special election in said County, except in the incorporated Town of Colonial Heigh s,
to take the sense of the qualified voters of the County of Chesterfield, Virginia on
the question of whether the Board ot Supervisors of Chesterfield County, Virginia
shall issue Five Hundred Thousand Dollars in revenue bonds for the purpose of the
construction, acquisition, reconstruction, improvement, maintenance, operation and
extension of water supply systems in the County of Chestertield, as authorized and
empowered in the Acts of the General Assembly of Virginia of 1946 Chapter 175 thereo .
...
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Ordered that the meeting be now adjourned until 10:00 a.m. April 1, 1947.
iItt~!'rY
Mi.IYuJfA7
Chairman
,