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HomeMy WebLinkAboutCOMM - Meeting Minutes - 143 - 5-29-1961 - COMMISSIONER1_ 07 - MINUTE BOOK BOARD OF COUNTY -CO=MMISSIt]NERS WASHINGTON COUNTY, PENNSYLVANLk FRANCIS E. PETTIT, J. BLATCH CUMMINS, JOHN MAZZ.A, COMMISSIONERS of $388.40 be made payable to M. Elma Evans, R. D. 1, Amity, Pennsylvania, said refund to cover a portion of the Personal Property tax paid July 26, 1960, for the year 1960. On February 29, 1960, M. Elma Evans filed with Washington County her 1960 Personal Property return. The return was based on stocks valued at $102,209.03 and a mortgage with B. Fulton valued at $5500.00. At a later date, April 1, 1960, the Mellon National Bank and Trust Company erroneously filed on their Sundry List, Account No. 400-500 for M. Elma Evans on stocks valued at $102,209.03 (after refund had been given --sea County Commissioners' Minute #123, dated March 30, 1961). Since duplicate returns were made and duplicate taxes paid on the above mentioned stocks, a refund is requested based on the proportionate amount of the total tax paid by M. Elma Evans. Therefore, the Personal Property Department of the Tax Assessment Office is hereby authorized to prepare said refund voucher in the amount of $388.40 made payable to M. Elma Evans, R. D. 1, Amity, Pennsylvania. Motion carried unanimously. Motion by Mr. Cummins, seconded by Mr. Mazza, that Genevieve Tucci who is being transferred from the Surplus Food Department be temporarily employed as a Clerk in the Registration Office; this action to be effective May 23, 1961. Motion carried unanimously. There being no further business to come before the Board at this time, the meeting adjourned. THE FOREGOING MINUTE READ AND APPROVED: June 21, 1961 ATTEST: CHI CLERK Q,,� NO. 143 Office of the County Commissioners Washington, Pa., May 29, 1961 Board of County Commissioners in regular session those present being: Commissioners Pettit, Cummins and Mazza. Motion by Mr. Mazza, seconded by Mr. Cummins, that the following Resolution authorizing and directing an increase in the indebtedness of the County of Washington be by the said Board to -wit: R E S O L U T I O N WHEREAS, it is necessary that the indebtedness of the County of Washington, Pennsylvania, be increased by the amount of Three Hundred Thousand ($300,000.00) Dollars for the purpose of providing funds for capital expenditures for municipal improvements consisting of the acquisition of land, easements, rights of way and relocation of utility facilities in ful- fillment of the obligations of the County and other participating municipalities of the County under agreements with the Corps of Engineers of the United States Army now engaged in a project of flood control and flood protection for Chartiers Creek, Washington County; and WHEREAS, pursuant to the taking of letter bids from various banking institu- 1 1 Li tions for the rate of interest to be charged on loans to be evidenced by Temporary Indebtedness Notes of the County to be issued as evidence thereof, it has been determined that Mellon MINUTE BOOK 157 BOARD OF COUNTY COMMISSIONERS WASHINGTON COUNTY,''PENNSYLV,ANIA FRANCIS E. PETTIT, J. BLATCH CUMMINS, JOHN MAZZA, COMMISSIONERS 1 E National Bank and Trust Company with its bid of 2.35% per annum will provide the necessary funds) I for the aforesaid capital improvements at the lowest net interest cost to the County. NOW, THEREFORE, be it resolved by the Board of County Commissioners of Washington County as follows: 1. The indebtedness of the County of Washington, Pennsylvania be and it is hereby in- creased by the amount of Three Hundred Thousand ($300,000.00) Dollars for the purposes herein - above recited. 2. Borrowings made pursuant to the authority of this Resolution shall be evidenced by Temporary Indebtedness Notes (hereinafter sometimes called the Note or Notes) of the County not to exceed the aggregate principal amount of Three Hundred Thousand ($300,000.00) Dollars, each such Note to bear interest at the rate of 2.35% per annum (said interest to be computed on the basis of 365 days to the year) from the date of said Note and to be issued to Mellon National Bank and Trust Company, its successors or assigns, upon payment of the face amount thereof, the schedule of issuance of each such Note and the amount thereof to be substantially as follows: Date On or About Amount of Note 1 June 1, 1961 $ 50,000 E July 1, 1961 50,000 j August 1, 1961 100,000 ( September 1, 1961 lOO,OOO i Provided, however, that borrowings hereunder may be made as demanded by the requirement of the County without regard to the schedule of dates or amounts set forth above. 3. Each Note to be issued hereunder shall 'provide for the repayment of 2O% of the face R amount thereof on the first day of June in each of the years 1962 to 1966, inclusive, and for th u payment of interest on the unpaid principal amount thereof at the rate hereinabove set forth on the first day of each third month after the date of issuance of the Note. The right of the County of Washington is hereby reserved to anticipate the payment of all or any part of the 1 principal amount of each such Note on the date any interest thereon is payable. 4. Each of the Temporary Indebtedness Notes to be issued hereunder shall be substanti- ally in the form annexed hereto, made part of and marked Exhibit A, with such changes as may be necessary to conform to the requirements of this Resolution. 5. The period of usefulness of the capital improvements to be purchased with the proce( of the Temporary Indebtedness Notes hereinabove authorized is hereby stated and determined to be at least five years from the date of their issuance. 6. The Temporary Indebtedness Notes herein authorized are hereby declared to be obligations of the County of Washington and shall pledge the full faith, credit and taxing power of the County. 7. The Temporary Indebtedness Notes shall be signed by the County Commissioners, attested by the Chief Clerk to the County Commissioners under the seal of the County of Washi.ngtc and the County Treasurer is authorized to deliver said Notes to Mellon National Bank and Trust Company from time to time and receive payment therefor on behalf of the County, provided that no amount less than the face amount of each Note with accrued interest to date of delivery shall be taken in payment thereof. 8. There is be eby levied and assessed upon all persons and property subject to County' taxation an annual tax in each of the following fiscal year s in such amount as will yield BOARD OF COUNTY COMtAISSION-ERS WASHINGTON COUNTY, PENNSYLVANIA FRANC,.IS E. PETTIT, J. BLATCH CUMMINS, JOHN MAZZA, COMMISSIONERS sufficient funds for the payment from time to time of installment payments of principal and of interest to be paid on said Notes in accordance with the following schedule: For the year 1962 - 91870 For the year 1963 - $64,935 For the year 1964 - $63,525 For the year 1965 - $62,115 For the year 1966 - $60, 705 9. There is hereby appropriated from the general funds of the County the of Thirty -Five Hundred and Twenty Five Dollars ($3,525) for the purpose of meeting interest payable on these Notes during the year 1961 and pending collection of the tax to be levied in subsequent years and such amount so appropriated shall be repaid out of the proceeds of the tax levied and to be collected for the year 1962. 10. It is hereby declared that the debt to be incurred, hereby, together wi the existing net debt of the County is not in excess of any constitutional or statutory limita- tions and that the action of this Board in filing the Constitutional Debt Limitation Statement dated April 17, 1961, with the Department of Internal Affairs of the Commonwealth of Pennsyl- vania as required by Article VII-A of the Act of Assembly of the Commonwealth of Pennsylvania, approved June 25, 1941, P.L. 159, as amended, is hereby ratified and confirmed. 11. All Resolutions not in accordance with this Resolution are repealed insofar as not in accordance herewith. COUNTY OF WASHINGTON, PENNSYLVANIA Temporary Indebtedness Note $50,000.00 June ist, 1961 FOR VALUE RECEIVED, the County of Washington, Pennsylvania`, a political sub- division of the Commonwealth of Pennsylvania, promises to pay to Mellon National Bank and Trust Company, its successors or assigns,'in lawful money of the United States of America, the sum of Fifty -Thousand ($50,000.00) Dollars as follows: Twenty per cent of the principal amount hereof shall be payable on the first day of June on each of the years 1962 to 1966, in- clusive, and interest at the rate of 2.35% per annum (cotputed on the basis of 365 days to the year) shall be payable on the unpaid balance of the principal amount of this Note on the first day of each third month after its date, with the right reserved to prepay all or any part of such principal on the date any in- terest on this Note shall be payable. This Temporary Indebtedness Note is issued by the County of Washington to provide funds for capital expenditures for municipal improvements in accordance with Article VII-A added to the Municipal Borrowing Law of Pennsylvania (Act of 1941, P.L. 159) by Act No. 299 of the General Assembly of the Commonwealth of Pennsylvania 1959 P.L. 802, as amended, and pursuant to a Resolution by the County of Washington duly adopted by the Board of County Comm- issioners on May 29, 1961, duly recorded according to law and pursuant to the further approval dated April 18, 1961, by the Department of Internal Affairs of the Commonwealth of Pennsylvania of the Constitutional Debt Limitation Statement of the County Commissioners, as required by law, made in connection with the proceedings authorizing this Note. It is hereby certified that every requirement of law affecting the issuance hereof has been duly complied with; that provision has been made for the collection of an annual tax sufficient to meet the installments of interest and principal hereon as they become due, ane that the total amount of the debt of the County of Washington, Pennsylvania, including the aggro gate amount of this Temporary Indebtedness Note does not exceed two per centum (2%) of the last proceeding assessed valuation of the taxable property in the County of Washington and that this Temporary Indebtedness Note and the debt created thereby are within every debt and other limit prescribed by the Constitution and laws of the Commonwealth of Pennsylvania and that for the prompt and full payment of all of the obligations hereof the entire faith, credit, taxing power and resources of the County of Washington, are thereby irrevocably pledged. Motion carried unanimously. There being no further business to come before the Board at this time, of Th fl �J the meeting adjourned. THE FOREGOING MINUTE READ AND APPROVED: June 21, 1 1 ATTEST: