Newspapers / The Chowan Herald (Edenton, … / Oct. 22, 1987, edition 1 / Page 14
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HERE’S YOUR CHANGE—A player receives change as another prepares to try to beat the odds at a game booth at the Chowan County Fair last week. Cool weather during evening hours didn’t discourage people from coming out for “the fun and chance of winning a prize. Funding For Youth Groups Is Offered Youth groups and organizations that wish to implement projects for young people may be able to get the money they need. Some $6,500 per year is available to North Carolina organizations composed of youth, ages 13 to 18, who want to imple ment new programs that will benefit their peers. The mini ★ ELECT ★ JIMMY ALLIGOOD Town Council First Ward November 3,1987 Willing to listen and speak out for lyou. Paid for by the Committee to Elect Jimmy Alligood Joseph Scalf EDENTON OPTICAL SHOP 705 N. Broad Joseph Scalf is a licensed optician with over 35 j years experience making and fixing eye glasses. b Metal frames soldered Plastic frames repaired 1. Can put your old lenses in a new frame Eyeglass prescriptions filled I ONE HOUR SERVICE ON MANY SINGLE VISION PRESCRIPTIONS PHONE: 482-7126 Hours 9-5 Monday through Friday Can arrange for a special time to suit you , Performing Both Friday & Saturday Night! October 23rd and 24th Cruzm' CoyoTEs Come Hear The Best In Southern and Country Rock! From 9:30 p.m. until 1:30 a.m. • Restaurant Will Also Be Open • Serving A Full Menu Until 2 a.m. SUNDAY BUFFET $5.95 from 12 a.m. til 2 p.m. Come and sea what you’re missing at Joe's PIace (Meads) Grubb Street Extnd. - Hertford, N.C. 426-5570 DAILY LUNCH BUFFET Monday - Friday from 11:30 a.m. til 2 p.m, $3.50 grants are being made available by the N.C. Youth Advisory Coun cil (YAC) and average $500 each. Oct. 21 is the application deadline. For applications or information, interested persons should contact the Youth Advocacy and Involve ment Office, 121 W. Jones St., Raleigh, N.C. 27603-1334 or phone (919) 733-9262. Applications will be screened by the State Youth Council Board of Directors when it meets Nov. 7 in Burlington and will be reviewed by the YAC before grants are made. The two councils are located within the Youth Ad vocacy and Involvement Office of the N.C. Department of Administration. I encourage young people and leaders of youth organizations to take advantage of this opportuni ty to obtain funds for special youth projects,” said Secretary of Ad ministration James S. Lofton. In addition to the mini-grant funds, a $500 grant will beaward ed this year to a rural communi ty youth organization that wishes to implement an education welfare-oriented program for their peers. The additional money has been contributed by Imasco U.S.A. of Rocky Mount. Applications are accepted three times during the fiscal year. The next deadline will be Jan. 8,1988. Honor Students Are Recognized Lawrence Academy of Merry Hill is proud to announce its Head master’s List and Honors List for the first six weeks grading period. The Headmaster’s List includes those students who consistently score 93 or better in all subjects, while the Honors List recognizes students who have earned a 90 grade average in all subjects. Headmaster’s List Fourth'“Grade - Shane Ball, Alyson Djyenport, Nicole Daven port, Suzanne Knighton, Drew Leggett, TJim Smith, Heather Spencer, Everett Thompson and Paula Woolard. Fifth Grade - Jenny Blount, Kimberly Little and Brad White. Sixth Grade - Kerry Hollowell, Mary Scott Perry and Melissa Swanner. Sevenths Grade - Jennifer Gregory and Jamie Byrum. Tenth Grade - Glen Taylor. Eleventh Grade - Kim Jackson, Sheila Gunnells, Anissa Roberts and Elizabeth Thompson. Honor Roll Fourth Grade - Chucky Boucher, Alisyn Collins, Jennifer Comstock, Gareth Griffith, Julie Little, Courtney Myers, Neil Patel, Agnes Powell, Chris Rhea, Kevin Sary, Andrew Slocumb, Jennifer Spruill and Jonzi Waters. Fifth Grade • Julie Ann Griffin, Jennifer Norvell, Shannon Reed and Reagan Walker. Sixth Grade • Trad Bekh, Ellis Boyle, Rebecca Byrum, Katie Fairfield, Kim Fairfield, Bess Harrell, Myranda^Rood, Jeremy Smith, Brimage Spruill, Quits Valentiime and Braxton WUUford. Seventh Grade • Mary Dunstan, Amy Petty, Betsy Ward, Amy Gatesville School Honored By Martin A late morning ceremony at the White House highlighted activities honoring Gatesville Elementary School and 270 other outstanding schools named fay the U.S. Depart ment of Education in the 1986-87 Secondary School Recognition Direct Access Is Available RALEIGH-^-North Carolina citizens have direct access to the Governor’s Office through the Governor’s Office of Citizen Af fairs by writing or calling the staff to ask for help in dealing with state government. In any organization as large as North Carolina’s state govern ment, individuals often need a forum to express their opinions on a variety of topics -- from local concerns to statewide issues. Many citizens have questions concerning procedure and policy. The Office of Citizen Affairs can provide assistance in finding answers to those questions. While citizens are encouraged to use the normal procedures and channels of state government, they will receive special help when necessary through the Citizen Af fairs Office. North Carolina residents can call the Office of Citizen Affairs toll-free by calling 1-800-662-7952 or by calling 1-919-733-2391. In ad dition, citizens can write to Gover nor Martin at the following ad dress: 116 West Jones Street, Raleigh, North Carolina, 27603-8001. Bank Aids N.C. Students ROCKY MOUNT—Peoples’ Bank and Trust Company has recently provided funding to the College Foundation, Inc. This is the eleventh consecutive year that Peoples Bank has helped to pro vide financial assistance toNorth Carolina students through its organization. The College Foundation is a private, nonprofit corporation that was founded in 1955. The Foundation administers the In sured Student Loan Program, the PLUS Loan Program, and the North Carolina Student Incentive Grant Program through North Carolina full-service banks. These banks provide the funds to the Col lege Foundation at below market rates so students can obtain low interest loans. Currently, Peoples Bank has over $1.5 million in loans outstand ing to the College Foundation, ac cording to Bill Wilkerson, Peoples Executive Vice President Commercial Banking Group. Wilkerson stated, “We are pleas ed to continue to provide funding to the College Foundation because it enables our North Carolina students to reach their goals through achieving higher levels of education.” NEED AN AIRLINE TICKET? CALL First Class Travel Agency 335-0869 335 4033 Program. Three representatives from each school were invited to Washington, D.C. to take part in the activities October 4-5. Local participants were John Parry, superintendent; John Lane, prin cipal; and Carolyn Wiggins, teacher. President Reagan praised representatives from the public.] and private schools in a Rose. Garden ceremony. “You are here because your schools are part of what’s right with American education,” said the President. “Schools like yours are showing the country how to achieve ex cellence by setting high stan dards, maintaining discipline and emphasizing the basics. The credit belongs to administrators who provided leadership, parents ‘ ■' " Continued On Pin 7-t rt~r - nj •> RE-ELECT ROY L. HARRELL For Mayor NOVEMBER 3rd. 1987 ”14 Years of Good, Clean, Honest Government For Everyone” | PiM far hy tin Cimwitf a ft »l»ct R»y Harrell j I FEATURE HOME OF THE WEEK I COUNTRY ESTATE - 3.79 acres with remodeled two story home. Includes four bedrooms, 1% baths, upgraded ap pliances and hardwood floors. Tailor made for a family ...$105,000. Qrnlups Dowd Real Estate 210 S. Broad Street Edenton, N.C. 27932 (911 1financial planning* NEW INTEREST RULES The IRS has just issued complicated temporary regulations governing the deductibility of various kinds of interest. It used to be that, with few exceptions, interest paid was fully deductible on your tax return. Generally, business interest expense remains fully deduc tible. Investment interest expense is deductible only up to the amount of net investment income. Interest expense connected with passive activities is deduc tible only to the extent of passive activity income. Both these categories have transition rules covering the next several years. Personal (consumer) interest, such as interest on car loans and credit cards, is being phased out completely and will no longer be deductible by 1991. Qualified home mortgage interest remains fully deductible. The basic rule in the new IRS regulations is that interest deductibility is deter mined by the use of the loan proceeds. The collateral used for a loan is irrelevant. People often mix borrowed funds with other unborrowed money; it is this situation which will now call for very careful recordkeeping in order to main tain deductions. The regulations state that expenditures made from an account containing both borrowed and unborrowed funds will be treated as coming first from the borrowed money. A fifteen-day exception to this rule allows expen ditures made within fifteen days after loan proceeds are received to be designated by the taxpayer as coming from either the borrowed or unborrow ed funds. An expenditure made from a mixed account after the fifteen days will be treated as having come first from the borrowed funds. Loan proceeds taken in cash will be categorically treated as used for per sonal expenses unless the proceeds are spent within the fifteen-day grace period. The regulations have some transitional rules and deal with loan paybacks as well. Final regulations will be issued after the IRS has digested the public's comments on the temporary rules. SYKES & COMPANY, P.A. Certified Public Accountant* 101 West King Street, Second Floor Eden ton, North Carolina 27832 j (919) 482-7644 Providing Complete Financial Management Services Downtown Edenton SAVE 20% ON BABY SHOE BRONZING 2 WEEKS ONLY—SALE ENDS OCT. 5 Beautiful Styles in 6 Gorgeous Finishes on Sale FOR CHRISTMAS GIVING . .. Save on the most precious gift of all... baby 's first shoes beautifully preserved for all time in solid metal. Truly priceless heirlooms for your family to cherish throuah tne vears. Style 45 Portrait Stand Bright Bronze *
The Chowan Herald (Edenton, N.C.)
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Oct. 22, 1987, edition 1
14
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