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246 <br /> <br />Special session <br /> <br />for refumds of ~his tax during the previous two years. 'No <br />Federal court has addressed the issue; this ordinance is an <br />effort to resolve the matter without making refunds. The <br />General Assembly and State Department of Taxation agreed to <br />produce an alternative and this francise tax is the result, <br />adopted at the last session of the General Assembly. The <br />State hasJnow repealed the authorityto levy the bank stock <br />tax and instead authorized the franchise tax. This ordinance <br />would simply make this change in the City Code. Mr. Gatew0od <br />and Mr. Albro abstained from discussion and vote on this matter <br />due to a possible confliCt of interest. On motion by Mr. <br />Buck, seconded by Mrs, O'Brien, an ordinance entitled ~!AN <br />ORDINANCE TO REPEAL ARTICLE V OF CHAPTER 10 OF THE CODE OF <br />THE CITY OF CHARLOTTESVILLE, 1976,~AS AMENDED WHICH IMPOSED <br />A TAX ON BANK STOCK, 'AND TO AMEND SUCH CHAPTER BY ADDING AN <br />ARTICLE XII, CONTAINING SECTIONS 10-70 THROUGH 10-73, TO <br />IMPOSE A FRANCHISE TAX ON BANKS" was offered and carried over <br />to the next meeting for consideration. <br /> <br /> Mrs. O'Brien asked that Council reiterate its previously <br /> stated position.with the County regarding the Reservoir. <br /> Mr. Brunton requested that Mr. Wiley compose a resolution <br /> honoring Mr. Raymond Pace, City Sheriff, in_light of his <br /> recent untimely death. <br /> <br /> Mr. Hendrix indicated to Council his memo regarding the <br /> Hartman's Mill ROad Project, which includes a chronology of <br /> events regarding the project. He stated that there is a <br /> problem with budgeting, as it appears that the $60,000 will <br /> not be sufficient. The Engineering Department is presently <br /> looking at this and receiving bids. Approximately $77,000 <br /> may be necessary for retaining walls. He will report further <br /> on this to Council at'a later date. <br /> <br /> The Public WOrkds Depar~tm~nt has met with the Bicycle <br /> Association to discuss bike trails identified as hazardous <br /> and needing correction. The Engineering Division is making <br /> estimates for these repairs as well as a cost estimate and <br /> design for a bike trail requested in the Greenbrier area. <br /> <br /> On motion the meeting adjourned. <br /> <br />residen~ - <br /> <br />BASEMENT CONMERENCE~',ROOM..-~WEDNES~AY, APRIL._~9~, 1980 <br /> <br /> Council met in special session on this date with the <br />following members present: Mr. Albro, Mr. Brunton, Mr. Buck, <br />Mr. Gatewood, Mrs. O'Brien. Absent: None. <br /> <br /> <br />