10-31-2002 Regular MeetingMinutes
Downtown Development Authority (DDA)
Thursday, October 31, 2002, 6:45 p.m., Second Floor Conference Room,
City Hall
Attendees: A. Max Bacon Hubert Black
Jim Pitts Scott Cochran
C. J. Fouts Susan D. Hiott
Susan Drinnon Gordon Mortin
Mayor Bacon called the meeting to order.
Gordon Mortin provided those present with a brief overview of the recent bond rating trip
to New York. Mr. Mortin stated that bond insurance, which can favorably impact bond
ratings, was acquired at reasonable cost. Mr. Mortin stated that the proposed action of
approving the Base Agreement and Bond Purchase Agreement for Refunding
$11,885,000 in Smyrna Downtown Development Authority Bonds, and the 5tn
Supplemental and Restated Lease Agreement will enable the City to realize savings in the
amount of $1,029,110.84.
As the number of DDA members present was insufficient to constitute a quorum, no
official business was conducted.
The meeting was adjourned at 6:59 p.m.