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11-22-1994 Regular MeetingNovember 22. 1994 The Downtown Smyrna Development Authority met November 22, 1994 at Smyrna City Hall. The meeting was called to order at 6:30 p.m. by Chairman A. Max Bacon. Present was: Doug Stoner Absent: Steve Shupert Willouise Spivey C. J. Fouts Hubert Black Jimmy Wilson Also present was City Attorney Charles E. Camp, Gordon Mortin with Lex Jolley & Company, City Clerk Melinda Dameron and City Administrator Bob Thomson. Mr. Camp explained the purpose of the meeting was to approve and authorize the bond issue for construction of the new police station/jail at a cost not to exceed $7.65 million. Hubert Black made a motion the resolution be approved as presented. Willouise Spivey seconded the motion which carried 6-0. Gordon Mortin stated the approval of the resolution would also cover the approval of the lease agreement between the City and the DDA, similar to the agreement approved for the first phase of development. There is a provision in the lease that stipulates that if any property owned by the DDA is sold, proceeds must be used for capital projects or to help pay the bonded indebtedness. Mayor Bacon gave an update on property acquisition and stated that if we can acquire the VFW property, it should provide adequate space for the new facility. We have, however, appraised the Smyrna Laundry and Second Baptist Church in the event those parcels are also needed. With no further business, Jimmy Wilson made a motion to adjourn at 7:00 p.m. Doug Stoner seconded the motion which was approved unanimously.