BOOK 19_1942-09-08 to 1945-05-07

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E it could be paid for sooner.- City Attorney McCarthy stated that if 2/3 of the voters approved the issue, the purchase of the land would ha-ffe to be done in a period not to exdeed five years, but that it could be -paid off in less time than that if the land were resold. Mayor Hilton asked the names- of the men vino are sponsoring the purchase and was advised by City Manager Mead that the First Na- tional Bank was handling the financing of the matter and that he did not know the namee of the men -involved. City Attorney McCarthy explained this was the same procedure followed in the purchase of the National. Motor Bearing land. He said as long as this land is not to be used for a municipal function, it was his opinion that the Council would not be -safe in undertaking to make this contract. He said the Council can not incur an indebyedness in excess of the current year's budget and for that reason the purchase of this property was being handled in this manner. Councilman Armstrong asked what the cost would be in the budget to which City Attorney McCarthy replied that it would be approximately'$25,800, reduced by whatever amount of land was sold. Councilman Ar=mstrong stated he was not in favor of the issue and believed there should be enough public-spirited citizens,to back the purchase without asking the public to vote on it. He -said that real estate values were very high .at this time and that values would probably go down after the war. Councilman Granger asked the cost of the elction and was informed that it would be approximately 1$600. Councilman Granger asked if the drainage problem was going to be corrected andif the city was going to install a spur track. Cit, Manager I,Zead replied that IT these improvements were installed, the cost would be added to the price. Councilman Fletcher was in favor of the issue being placed on the ballot and the voters being given an opportunity to express their wishes in the matter. There was some discussion as'to whetlier or not the price at which the property was to be sold should be included in the ordinance and also placed on the ballot. City Attorney 1-JcCarthy said this could be done but that he had be- lieved it better to make the prop6sitftoh on the ballot as short as possible. Councilman Armstrong stated he was going to vote to place the issue on the ti ballot because he had an abiding faith in the people's judgment and he would hate; I to announce publicly what he thought would happen to it. Councilman Britschgi offered introduction of the ordinance, seconded by Counci lm -,n Fletcher. Under the question, Councilman Iiellulty asked if it was the best time to put •1.l it on the ballot. I1ryor Hilton wa.s of the opinion that it was not, as was Councilman Armstrong; who thought it was very unwise to put it on at the same 'time as the bond issue. Mayor Hilton said that unless any man bino wished coule invest in the purchasm I of the property he via.s going to vote o"rainst placing the matter on the ballot. City Man?.ger I.iead said that the Industrial Cor#mittee had authorized him to con- tact Mr. Morrish of the First Retional Bank who had organized the financial f