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