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THE MINUTES OF A REGULAR MEETING
OF
THE HOUSING AUTHORITY OF THE CITY OF ATLANTA, GEORGIA
HELD ON THE 18TH DAY OF NOVEMBER, 1969
The regular meeting of the Commissioners of the Housing Authority
of the City of Atlanta, Georgia, held on the 18th day of November,
1969, at 3:00 P.M., in the Conference Room of the Authority, 82h
Hurt Building, Atlanta, Georgia.
The meeting was called to order by the Chairman, and upon roll call,
those present and absent were as follows:
Present Absent
Mr. Edwin L. Sterne Mr. George S. Craft
Mr. Jack F. Glenn Vacant
Mr. J.B. Blayton
The Chairman declared a quorum present.
Upon motion made by Mr. Glenn and seconded by Mr. Blayton, the fol-
lowing resolution was unanimously adopted:
RESOLVED that Dr. William Holmes Borders is hereby elected a Com-
missioner of the Housing Authority of the City of Atlanta, Georgia
to serve for the remainder of the present unexpired term of the
late Frank G. Etheridge.
pe er
The Minutes of the Regular Meeting of November lh, 1969, were approved.
*Upon motion made by Mr. Blayton and seconded by Mr. Glenn, the fol-
lowing resolution was unanimously adopted:
“Upon motion made by Mr. Blayton and seconded by Mr. Glenn, the fol-
lowing resolution was unanimously adopted:
HUD-5272b
June 1968
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
The following resolution was introduced by Commissioner
Blayton _, read in full and considered:
HUD -5272b
36-0363
J
AKO- Cons, 2
HiUDe's?7 43 2
(Fores ris ria? 53}
25-66
he OLUTION NO,
Hossein awarding $ 9,755,000.00 pri ncipal amcunt.
of Kew ilousdi.y, Authority Zonda [| Seventh Issue) of
The llousin: Acthority of the City of Atlanta, Georria
Wikiths The Housings Authority of the City of Atlanta, Ceorsia
(herein, called ‘Loe1] Authority") has received, in response to its advertise-
ment, seated propesalg ter tee purchase of $ 9,755,000.00 principal amount
of New Heusing Autherily funds ( Seventh Tssue) (herein called
"Benda! and haus opened and cansitered suid proposals;
NOW THEREFORE, 22 IT AFSOLVeD by the Local Authority:
Secticn ]. ihe treposal of an interest rate of 6 % per annum to
be borne by the Bonds and the offer to pay for such Bonds at par and accruod
interest to the sate of delivery plus a premimm cf § 9,755.99
submitted by PANCERS TRUST COMPANY, FT AL * in the form
hereto annexed as an mxtribit is hereby accepted.
Seccion ?. The prupesals and effers of the following at the indicated
interes. rites end premimits are heraby rejected:
Piddcr Interest Premium
%
WOE
Seaticn 3. The Secretary is authorized and directed to (a)
immediately notify the successful bidder by telegram (with a confirmation
by letter) of the award of the Bonds, (b) return immediately the good faith
deposits enclose? with the proposals which are resected, (c) deposit the
goo aith deposit in a special account within the General Fund to be held as
sezur. ty ty the Local Authority urtil released therefrom pursuant to the
provisions of the advertisement and proposal, and (d) take such other action
as msy be rested to carry out the award of the Bonds.
Section Lh. This Resolution shall take effect irmediately.
Phelps Fenn & Company Blyth & Co., Inc.
Ghemical Bank Lehman Brothers
Harris Trust and Savings Bank Kuhn, Locb & Co.
The Chase Manhattan Bank, N.A. Bank of America
JOINT MANAGERS AND ASSOCIATES The First Boston Corp.
HUD]=52302D
March 1967
(Formerly PHA=2302D) ;
: FORM OF PROPOSAL TO BE CC}PLETED, DATED, AND
ADDRESSED TO THE LOCAL AUTHCRITY
The Housing Authority of the ;
City of Atlanta, Georgia November 6 19.69
824 Hurt Building
Atlanta, Georgia 30303
Gentlemen:
For the $ 9,755,000.00 aggregate principal amount of New
Housing Authority Bonds of The Housing Authority of the City of Atlanta, Georgia
(herein called the "Local Authority") described in your official Notice of Sale
published in The Daily ond Buyer on _ September 10 » 19.6% “hich
Notice of Sale is incorporated herein by reference and is made a part of tnis
proposal, we propose an interest rate of six per cent ( 6 )%
per annum to be borne by all of such Bonds and offer to pay for such bonds, bear=
ing interest at such rate, par and accrued interest to the date of delivery plus
a premium of $_9,755,00 __.» Said Bonds shall mature as set
forth in the schedule of annual maturities as prescribed by the Local Authority
at the above interest rate.
‘In accordance with the terms of the above-mentioned Notice of Sale, we
enclose herewith a certified or bank cashier's or treasurer's check for
payable to your order as a good faith deposit.
$_ 195,100.00
This proposal is subject to the approval of the validity of the Bonds by
our attorneys, lessrs. King & Spalding of
anta, Georgia + Such attorneys will (a) furnish a copy of
their approving opinion to the Local Authority when issued, (b) prepare all
documents necessary to evidence the validity of the Bonds suksequent to the award,
or for corrective action prior thereto, and (c) provide advice and assistance to
the Local Authority in connection with accomplishing such other actions as may be
reasonably necessary to the validity of the Bonds and the delivery thereof in
‘accordance with the contract to purchase the Bonds. The fees and charges of such
attorneys will be borne by the undersigned.
The undersigned agrees to accept delivery of and pay for all of the above
described Bonds within seventy-two hours after notification to the undersigned by
you that said Bonds are ready for delivery.
If this proposal is accepted by you, the proceeds of the good faith deposit
check are to be retained by you as part payment against delivery of and payment for
said Bonds, or to te retained by you as liquidated damages in the event that we
should fail to take up and pay for the Bonds in compliance with this proposal. The
amount of the good faith deposit is to be returned by you to us on the failure on
your part to perfcrm in accordance with the terms of said Notice of Sale and this
proposal, or at our election to be relieved of our obligations hereunder in the
event that prior to payment.for such Bonds the interest received by private holders
from bonds issued by public housing agencies in connection with lowerent housing or
slum clearance projects shall be taxable by the terms of any Federal law hereafter
enacted.
Bankers Trust Company Blyth & Co.,Inc, .
Phelps Fenn & Company Lehman Brothers Eankers Trust Conpany
Chemical Bank Kuhn, Loeb & Co.
Harris Trust and Savings Bank Bank of America fal Rcbert Be —Wanglund
The Chase Manhattan Bank, N.A. The First Boston Corps soon’ Vice President
JOINT MANAGERS AND ASSOCIATES
' (No addition, alteration, or change is to be made to the above proposal)
HUD-5272¢
(Formerly PHA-272g)
September 1966
Commissioner Blayton moved that the fore-
going resolution be adopted as introdueed and read, which motion wes
seconded by Commissioner Glenn 3 and upon roll
call the "Ayes" and "Nays" were as follows:
AYES
Mr. Edwin L. Sterne
Mr. J. B. Blayton
Mr. Jack F. Glenn
The Chairman thereupon declared said motion carried and said resolu-
tion adopted.
The following resolution was introduced by Conmissioner
Blayton _» read in full and considered:
RESOLUTION NO.
RESOLUTION EVIDENCING APPOINTMENT OF FISCAL
AGENT AND AUTHORIZING EXECUTION OF A FISCAL
AGENT AGREEMENT.
BE IT RESOLVED BY THE COMMISSIONERS OF THE HOUSING AUTHORITY OF
THE CITY OF ATLANTA, GEORGIA
Section 1. That The Housins Authority of the City of Atlanta, Georsig
» Shall enter into a Fiscal Agent Agreement with Trust
Company of Georgia, Atlanta, Georgia in substantially the
form set forth under Section 3 hereof.
Section 2. The Chairman and/or Vice-Chairman is hereby authorized
and direc‘.ad to execute said Fisca? Agent Agreement as set forth vwuder
Section 3 hereof, on behalf of this Authority, and the Secretary is hereby
auth: rized and directed to impress ‘he seal of this Authority thereon and
to attest such seal, and to transmit five copies thereof to the Housing
Assistance Administration.
Section 3, The Fiscal Agent Acreement referred to herein shall. be in
substantially the following form:
36-0362
RUD~52173A (Group Financ ing) Page 1 of 3
January 1967 = Region III
FISCAL AGENT AGREEMENT
THIS AGREEMENT, entered into this day of 9 4
by and between The Housing Authority of the City of Atlanta, Georgia Cherein
called the "Agent Authority”), a duly organized and existing public body corporate
and politic of the State of Georgia » od
Trust Company of Georgia (herein called the "Fiscal Agent"), located at
Atlanta, Georgia
WITNESSETH:
WHEREAS, a certain agreement dated as of July 23, 1969 » Cherein
called the "Financing Agreement") between the Agent Authority and certain other
housing authorities which are or may become parties to the Financing Agreement
Ceach of which is herein called "Member Authority") provides for cooperation in
the exercise of their powers for the purpose of collectively financing certain lowe
rent housing projects of each Member Authority; and
WHEREAS, certain contracts (herein collectively and individually called the
“Annual Contributions Contract") between each member Authority and the United
States of America (herein called the "Government" and in the Annual Contributions
Contract called the "Public Housing Administration" or the PHA") now or hereafter
included in the Financing Agreement provides for a loan and for annual contri-
butions to be made by the Government to assist the Member Authority in developing
and in achieving and maintaining the low-rent character of its low-rent housing
projects; Z .
WHEREAS, under the terms of the Financing Agreement, the Agent Authority
acting on behalf of and for the Member Authorities agrees to issue Bonds and
Notes and to designate a Fiscal Agent for the payment of such Bonds and Notes,
all as more particularly described in the Annual Contributions Contract; and
WHEREAS, each Bond Resolution adopted by the Agent Authority pursuant to
the Financing Agreement shall identify the projects to be financed by the issue
ef Bonds authorized by such Bond Resolution and each Member Authority and its
Annual Contributions Contract in respect to any such projects;
NOW, THEREFORE, in consideration of the mtual covenants hereinafter set forth,
the parties hereto do agree as-follows:
1. The Fiscal Agent has trust powers and is and shall continue to be a member
of the Federal Deposit Insurance Corporation as long as this Agreement is in force
and effect.
2. The Fiscal Agent hereby accepts the powers, duties and obligations con-
ferred and imposed upon it as Fiscal Agent by the Annual Contributions Contract and
by the Bond Resolutions which aay be adopted from time to time by the Agent Author]
ity and each successor Agent Authority pursuant to the Financing Agreement and which
confer and impose upon the Fiscal Agent the same or similar powers, duties and
opligations with respect to additional issues of Bonds as the Bond Resolution
authorizing the issuance of the first issue of Bonds pursuant to the Financing
Agreement. .
3. The Fiscal Agent shall, as provided in the Bond Resolutions, establish
and maintain a Debt Service Fund and an Advance Amortization Fund for the receipt,
deposit and disbursesent of aonies. Each Member Authority shall deposit with the
Fiscal Agent in tie respective Funds and the Fiscal Agent shall accept for deposit
all monies (including annual contributions payabie to the Member Authority by the
Government which are deposited with the Bank as Fiscal Agent pursuant to the Anmal
Contributions Cuniract and trie Bond Resolutions. All monies so deposited with the
Fiscal agent shalt be held by tne Fiscal Agent in trust in the respective Funda and
shall be appliea by the Fiscal Agent as provided in the Annual Contributions Cone
tract and tne Bond Resolutions.
3G-0362
HUD-52173A (Group Financing) . Page 2 of 3
March 1967 - Region III
&. A. The Fiscal Agent shall purchase, with monies from the Debt Service
Fund and the Advance Amortization Fund, and sell investment securities as
the Agent Authority with the approval of the Government may direct. The
Fiscal Agent shall in any event sell any such securities to the extent
necessary to provide cash in the Funds to make any payments or transfers
required to be made from said Funds pursuant to the Annual Contributions
Contract and the Bond Resolutions. Such securities shall be held by the
Fiscal Agent in safekeeping for account of the Funds and interest on such
securities and the proceeds from the sale thereof shall be deposited in
such Funds upon receipt.
B, The Fiscal Agent shall honor any directive of the Comptroller of the
Government to pay any monies out of (1) the Debt Service Fund in excess of
the amount necessary to provide for (i) the payment of the Bonds and
interest thereon and (ii) the Bond Service Carry-Over, as provided in the
Bond Resolutions, and (2) the Advance Amortization Fund, to any Member
Authority or to the Government, and shall upon request, advise the Govern=
ment of the balances in said Funds.
52 All monies held by the Fiscal Agent in the Debt Service Fund and in the
Advance Amortization Fund shall be secured at all times by the Fiscal Agent with —
either direct obligations of the United States of America or obligations of a public
housing agency as required by and described in the Bond Resolutions which may be
adopted from time to time by the Agent Authority pursuant to the Financing Agree=
mente
6. On or before each date of maturity of the principal of and interest on the
Bonds authorized under the Bond Resolutions, the Fiscal Agent shall make provision
for the transfer of monies from the Debt Service Fund to the bank or banks (herein
collectively called the “Alternate Paying Agent") specified in the Bond Resolutions
as the alternate place or places for the payment of the principal of and interest
on any such Bonds in amounts sufficient to pay such principal and interest as the
Same mature or become due and are presented to the Alternate Paying Agent for pay=
mente
7. The Agent Authority shall pay to the Fiscal Agent for its services and the
services of the Alternate Paying Agent the following fees and charges:
A. An annual administration charge of $100 plus 1/100 of
1% of the principal amount of bonds in excess of one
million dollars, but in no event to exceed $350 for each
issue of Bonds,
B, For the payment of coupons of each issue of bonds:
10¢ each for each coupon of each maturity.
C. For the payment of bonds (registered or coupon) ef each
issue:
$1.25 per bond.
D. For the payment of interest on registered bonds:
25¢ per check disbursed.
E. For registration of bonds:
An initial fee of 50¢ for the registration of each bond.
F. For sorting, listing, cremating, and furnishing ;
certificate of cremation:
1l¢ for each coupon and Ik for each bond or minimum of
$10 for each semi-annual cremation.
The Fiscab Agent agrees to pay all fees and charges of the Alternate Paying Agent
36-0362
RUD 52173A (Group Financing) Page 3 of 3
January 1967 = Region III
8. The rights and duties of the Fiscal Agent under this Agreement shall not
be transferred or assigned nor shall this Agreement be terminated by either party
except that upon the assignment or termination of the rights, powers, and duties
of the Fiscal Agent pursuant to the terms of the Bond Resolutions, this Agreement
shall be similarly assigned or terminated.
9. The Agent Authority and the Fiscal Agent agree that at the end of three
years or such earlier time as reasonable accurate data are available to enable the
determination of the reasonableness of the fees set forth above for the services of
the Fiscal Agent and the Alternate Paying Agent, the parties shall renegotiate the
amount of such fees by decreasing or increasing such amount to provide a reasonable
margin of profit for the services provided for hereunder.
10. This Agreement may be executed in several counterparts, each of which shall
be deemed to be an original and such counterparts shall constitute one and the same
instrument.
IN WITNESS WiEREOF, the Agent Authority and the Fiscal Agent have caused this
Agreement to be executed in their respective names and their respective seals to be
impressed hereon and attested all as of the date and year first above written.
THE HOUSING AUTHORI EORGIA
Agent Authority
By
Secretary
(SEAL) TRUST COMPANY OF GEORGIA
Fiscal Agent
AITEST:
{~
“Upon motion made by Mr. Glenn and seconded by Mr. Blayton, the fol-
lowing resolution was unanimously adopted:
WHEREAS, the Urban Redevelopment Plan for the Bedford-Pine Urban
Redevelopment Area proposed that privately owned utilities be placed
underground in the streets adjoining the City of Atlanta Civic
Center; and
WHEREAS, the placement of privately owned utilities underground is
an eligible project cost; and
WHEREAS, an agreement to install said utilities underground has been
drawn up and approved by the Georgia Power Company;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Housing Authority of the City of Atlanta, Georgia, that the Executive
Director be and is hereby authorized to execute a contract in the
form attached hereto with the Georgia Power Company for $523,561 for
the purpose of placing their facilities underground in the streets
adjoining the City of Atlanta Civic Center.
“Upon motion made by Mr. Blayton and seconded by Mr. Glenn, the fol-
lowing resolution was unanimously adopted:
WHEREAS, in response to our Invitation to Bid, the following bids
for the demolition and site clearance of certain buildings and
structures in the Bedford-Pine Urban Redevelopment Area, Project
GA. A-2-1, were received and opened publicly and read aloud at
2:00 P.M., (E.S.T.) on the 7th day of November, 1969, at the
office of the Housing Authority of the City of Atlanta, Georgia.
BIDDERS BIDS
Hudgins and Company, Inc. $ 16,636.00
Complete Wrecking & Grading, Inc. 1h, 76
Continental Wrecking Corporation 7,988.
WHEREAS, Continental Wreckin core ae having submitted the
lowest bid in the amount of 87.98
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
HOUSING AUTHORITY OF THE CITY OF ATLANTA, GEORGIA;
That the Executive Director be and is hereby authorized and directed
to enter into a Contract with Continental Wrecking Corporation for
the demolition and site clearance of certain buildings and structures
in the Bedford-Pine Urban Redevelopment Area, Project GA. A-2-l, as
covered by their bid received on November 7, 1969.