11-17-1997 Authority MeetingPresent:
DOWNTOWN DEVELOPMENT AUTHORITY MEETING
NOVEMBER 17, 1997
Mayor A. Max Bacon, Chairman
Gordon Mortin
Steve Shubert
Doug Stoner
Jimmy Wilson
Claudia Edgar
Hubert Black
Willouise Spivey
Chuck Camp
Jim Pitts
C. J. Fouts
Susan Hiott
Mayor Bacon asked Gordon Mortin to begin discussion concerning the DDA Revenue
Bonds. Gordon Mortin summarized the DDA's meeting of October 29, 1997, where
members authorized issuance of the bonds. Gordon Mortin noted that due to recent legal
instruction and recommendation, DDA members are required to authorize the issuance of
bonds again because the official, required documentation was not available at the October
29, 1997 meeting.
Attorney Chuck Camp passed out the official documentation pertaining to the bond issue.
(This official documentation is on file in the City Clerk's Office, City of Smyrna.) He
read the Bond Resolution ratifying, reaffirming, and amending that certain resolution
adopted October 29, 1997, to provide for the issuance of Downtown Smyrna
Development Authority Revenues Refunding and improvements bonds, series 1997, in
the aggregate principal amount of $8,285,000. Jim Pitts made a motion that the
resolution be adopted and authorize the issuance of the bonds. Jimmy Shupert second the
motion. Motion was approved unanimously.
Gordon Mortin informed members that the bonds were to close on December 9, 1997,
after advertisement and validation.
There being no further business, the meeting was adjourned.