January 03, 1948At a Special Meeting of the Board of Supervisors of Freder
County, Virginia, held in the Supervisors Room over the Clerk's Office on the 3rd day
lof January, 1948
P- R- E- S -E -N -T
L. B. Whitacre, B. 0. Brumback, Ellsworth Dodson, Charles
E. Garber and Grover Teets.
CHAIRMAN
t Upon motion of Ellsworth Dodson and seconded by Grover Teets,
Byron 0. Brumback was,unanimously elected.temporary chairman. Whereupon Mr. Brumback
called for noninations for a permanent Chairman. L. B. Whitacre was nonimated by Chas. E.
Garber and seconded by Grover Teets. There being no other nominations made. L. B.
Whitacre was unanimously elected Chairman. After thanking the members for the honor
bestowed upon him he assumed charge of the meeting.
The minutes of the Special Meeting held on the 30th day of
December, 1947 were read and approved.
The following Committee composed of C. E. Garber and L. B.
Whitacre were appointed to supervise the building and grounds that belong to the County
land which are located in Wine hester.
BOARD MEETING DATE
On.motion:it was holdethe Regular meeting of the
Board on the second Monday of each month.
SCHOOL BOARD
WHEREAS, The School Board for the County of Frederick, on
3rd day of January, 1948, presented to this Board, an application addressed to the State
Board of Education of Virginia for the purpose of borrowing from the Literary Fund in an
amount not exceeding $700,000.00 for the new School Building at Winchester, Va., to be
paid in 30 dnnual installments, and the interest thereon at two per cent paid annually;
provided, that at the time the money is called for by the School Board, there are
sufficient funds in the Literary Fund.
It there are not sufficient funds in the Literary Fund and
it becomes necessary for the State Board of Education, in order to raise the money for
loan, to dispose of its securities by a sale to the Virginia Retirement System, the rate
interest on this loan will be three per centum instead of two per centum.
Resolved, That the application of the County School Board
to the State Board of Education of Virginia for a loan id an amount not exceeding $700,000:00;
from the Literary Fund is hereby approved, and authority is hereby granted the said County
School Board to borrow the said amount for the purpose set out in said application.
The Board of Supervisors for said County will each year
during the life of this loan, at the time they fix the regular levies, fix a rate of
levy for schools or make a cash appropriation sufficient for operation expenses and to
pay this laon in annual installments and the interest thereon, as required by law regula
loans from the Literary.Fund.
It is ordered that the Board do now adjourn.
�C1 �N!�, ,Clerk Chairmn
:32.9.