02-09-1993 Regular MeetingFebruary 9, 1993
The Downtown Smyrna Development Authority February 9, 1993 at the
Smyrna Community Center. The meeting was called to order at 6:30
p.m. by Chairman A. Max Bacon.
Present for the meeting was:
Willouise Spivey
C. J. Fouts
Jim Pitts
Hubert Black
Jimmy Wilson
Absent:
Steve Shupert
Doug Stoner
Also present was Councilman Pete Wood, City Administrator Bob
Thomson, City Clerk Melinda Dameron, Finance Director Jim Triplett,
City Attorney Charles E. Camp and Ed Wall from Lex Jolley &
Company.
Ed Wall presented the proposed refinancing of DDA Revenue Refunding
Bonds which will lower the annual debt service by approximately
$22,000 with a gross savings of approximately $511,150. Mr. Wall
said it will take some 2 to 3 weeks to get the paperwork prepared
and they need the DDA to approve the refinancing tonight for it to
be presented to council at the next meeting for their approval.
After further discussion Hubert
Company be authorized to proceed
as long as the savings equals at
Wilson seconded the motion which
Black made a motion Lex Jolley &
with the refinancing as outlined
least 3% of the net value. Jimmy
carried 5-0.
With no further business meeting adjourned at 7:10 p.m.