10-31-2002 Special Called MeetingOctober 31, 2002
A special called meeting of Mayor and Council was held at Smyrna City Hall in the 2nd Floor
Conference Room. The meeting was called to order by presiding officer Mayor A. Max Bacon at
7:00 o'clock p.m. All council members were present. Also present were City Administrator
Wayne Wright, City Clerk Susan Hiott, Executive Assistant Susan Drinnon and City Attorney
Scott Cochran.
Mayor Bacon recognized Mr. Gordon Mortin. Mr. Mortin stated the purpose of the meeting is to
approve the Base Agreement and Bond Purchase Agreement for Refunding $11,885,000 in
Smyrna Downtown Development Authority Bonds, and the 51h Supplemental and Restated Lease
Agreement. Mr. Mortin stated the City will realize savings in the amount of $1,029,110.84 by
this action.
MOTION: Council Member Wood made a motion to approve adoption of an authorizing
resolution for execution of the Bond Purchase Agreement and 51h Supplemental Restated Lease
Agreement, and the motion was seconded by Council Member Scoggins. Council Member
Hawkins asked when the bond rate will actually be fixed, and Mr. Mortin stated the rate will be
set on the current date. Council Member Lnenicka asked about miscellaneous expenses
associated with the transaction, and Mr. Mortin provided a brief recapitulation of said costs.
Motion was approved 6 — 0. Council Member Newcomb arrived late and did not vote.
Mr. Mortin expressed appreciation to the Mayor and Council members for their cooperation.
MOTION: Council Member Hawkins made a motion to adjourn, and the motion was seconded
by Council Member Cramer. Motion was approved 7 — 0.
With no further business, the meeting was adjourned at 7:16 p.m.
A. MAX BACON, MAYOR
MELLENY PRITCHETT, WARD 1
D. HIOTT, CITY CLERK
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RON NEWCOMB, WARD 2
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BILL SCOGGIN , ARD 3 JAMES M. HAWKINS, WARD 4
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CK CRAMER, WARD 5 WADE S4LNENI , WARD 6
CHARLES PETE WOOD, WARD 7