Box 3, Folder 5, Document 10

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Box 3, Folder 5, Document 10

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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, 824
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
Mr. Edwin L. Sterne
Mr. Jack F. Glenn
Mr. J.B. Blayton
Absent
Mr. George S. Craft
Vacant
The Chairman declared a quorum present.
Upon motion made by Mr. Glenn and seconded by Mr. Blayton, the following resolution was unanimously adopted:
[
RESOLVED that Dr. William Holmes Borders is hereby elected a Commissioner 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.
The Minutes of the Regular Meeting of November
3
C
4,
1969, were approved.
Upon motion made by Mr. Blayton and seconded by Mr. Glenn, the fol lowing resolution was unanimously adopted:
�tr
Upon motion made by Mr. Blayton and seconded by Mr. Glenn, the following resolution was unanimously adopted:
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HJD-$272b
JUne 1968
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Commissioner
The following resolution was introduced by _ _
_ _ _ _ _ _ _ _ _ __
-~Bl=a::.oiyt~o:..:;n:..__ _ _ _ , read in full and considered:
,,
l
HUD- 52 7Zb
·,.
�lil'D-): l.J -~
(J,·,,~•·:,· rl:; i'ilA~;·, 1) ,I
4,~;-M
liF.; :'IJ,.llTION HO. ________
ko~•: 1 -. · 1 :,,~1 111omrdin~ $ 9,755,000.UO
principal arrcunt.
f }!(.;; ii',1: :,1, :L Au t ro r lty.,,j,-c,_n.c,d_o_c,---~:,-[!-,
, v_c_n_t.,...h---,Irs-suo) 0 f
0
_!!!.£..,!lc>~~in:: Al:th,:,rity of the City of Atlnnta, Georr.ia


~iri:.P:.~
The Hou!lin'.; Authority of tire City of /,tlanta, C~or~i.-i
(hereir. csiD.P.,1 •r.or,J J, ,; thor1ty") has received, in response to its advertisel'l<~r. t., :-.•,.:-.i'Xi pro1: c:-: .,,l.:;i :c1
ot
!.t:t:
rvr.:h.a.:io of$ 9,755,000.00
principal amount


tlcw Hc-'.li;ine t..ut.!,c.r·:. 1,y iL: :d:! (
NC7,,l
'l'Hw?:F'0~t!:: 1
Sccticn l.
.,;:;
rssue) (herein called
Seventh
!T iir.SOLVr.'.D by the Local Autl1ority:
~t:13 p:-cpc ~:.l of an interest. rate of

6
% per ann\lffl to
be borr.o t:; U-,,.:: 3or,:is :mu the offer to pay for such Bonds at par and accrued
intere~t to t : :,:; ~t~· oi c\clivtiry plus a prerdmwn cf
t-.9.._,~....15._5_.__n_n_________
.1
eubr.\i t.t,?d by ___n_~,_}_!r.F._·_.RS
__
T_
R_ll_ST_co_:_:P_,\_N__..Y,_E_T_A_L_*_ _ _ _ _ _ in t.'le form
hereto ..r.nexed ..c
51:-:- ··.i':,:: :'.
a,~
m:.:!i.bit 1:, r.eroby accepted.
,;,!,e pru;;c.:ials


.;1ri


offer~ of the follo.,,ring at the indicated
int-eres•. r ,, u,s ::..r..:I premi rr.u:r.s are hereby rejected:
Interest
Pre1r.iul!I
I
i
IClm
Seotien J.
The S<"c rct:irv
is authorized and directed to (a)
1,,imcc!!ate::.y noti fy tt,e ouccessful bidder by telegram (with a confir;,,ation
by lett..•r)
or
tho aw.:ird of the Bor.ds, (b) return imediately the good faith
.
deposits e r.clo~ ~:~ :.-r ·~th the proposals which are rej~ted., (c) deposit the
.
r,oo-i f r.~ ~'1 .:!eposi t ir, a spncbl a r,::ount within the General Fund to be held as
e;:;-:",;,!": ty 'L y t 'r'.E: Loc;,.l ;,1,;t.'1or:! ty \.:: til rt?le.;sed thcrefro1r. pursuant to the
provic;for.s o!: +..~c arl·: crt::.~encnt and proposal, and (d) take such other action
as r.i&y be r"1uirc'.i ~o carrJ out the a.iard ·or ~he Bonds.
Sc~tio~ ~.





T!'li:i Resolution :ihall take effect i=ediately.
Hie lps Fe nn & Comp:my
Otemic al Bank
HaITis Trust a nd s ~vinr;:i Ba nk
filyth & Co., Inc .
lkhman Brothers
Kuhn, Loeb & Co.
The Cha:ic M.'.lnh.'.ltt~n 13.'.lnk, N.A.
JODrr 1'1ANAGERS AND ASSOCIATES
Bank c.f America
The Flrst Bo:iton Corp.
·•
�HUD-52.302D
Much 1967
(Fonnerly PHA~2.302D)
FORM OF ffiOPOSAL TO BE co:-[PLETED, DAr.:.D, AND
ADDRESSED TO TIC:: LOCAL AlITl!CiUTY
The Housing Authority of the
City of Atlanta 1 Georr, ia
Novcrnber 6
_.......,;;--a;.;;;.a_.;;;...._.___
19~
~
824 Hurt Building
4tlanta. Georgia 30303
Gentlement
For the $ 9,755,000.00
Housing Authority Bonds of
aggregate principal l!J'llount of Nev
The Housing Authority of the· City of AE!anta, Georgia
(herein called the "Local Authority) described in your official l!otice of Sale
published in The Dail:,· !!ond Buyer on _s_e_.p_t_e_m_b_e_r_1_0_ _ _ _ _ _ _ , 19~9, •1hich
Notice of Sale is incorporated herein by reference and is made a part of t h1 3
proposal, ve propose an interest rate of ____s_i.x
_________ per cent ( 6
)%
per annwn to be borne by all of such Bonds and offer to pay for S..!Ch bonds, bearin& interest at such rate, par and accrued interest to the date of deHver-J plus
a premium of S__.9'-"'•..._7"'°'55~,o;;.;;o_ _ _ _ _ _ _ _ __
Said Bonds shall mature as set
forth 1n the schedule of annual. m&turities as prescribed by the Local Authority
at the above interest rate.
In accordance W'ith the tems of the above-r:ientioned Notice of Sale, we
enclose hereW'ith a certified or bank cashier's or treasurer's check for
$.__1_9_5_.,_l_o_o_.o_o_____ payable to your order as a good faith deposit.
This proposal is subject to the approval of the validity of the Bonds by
our attorneys, l·'.essrs. ___ _!~~-a_l_d_i_n_.g..__ _ _ _ _ _ _ _ _ _ _ _ _ of
Atlanta , Georgi a
• Such attorne:,s will (a) furnish a copy of
their approvin 6 opinion to the Local Authority when issued, (b) prepare all
docur.ients necessarJ to evidence t he validity of the Bonds sul::sequent to the award,
or for corrective action prior t hereto, and (c) provide advice and assi stance to
the Local Authority in connection with accomplishing such other actions as may be
reasonably necessary to the validity of the Bonds and the deliver-.r thereof in
·accordance with the contract to purchase tile Bonds. The fees and charges of such
attorneys will be borne by the undersicned.
The undersigned a grees 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.
I ! this proposal is accepted by you, the proceeds of the good faith deposit
check are to be retained by you as part payment against deliver-,r of and payment for ·
said Bonds , or to be 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
U10unt of the good faith depvsit is to be returned by you to us on the failure on
your part to per fc m in accor dance with t he ter.ms of said Noti ce of Sale and this
proposal , or at our election to be relieved of our obligations hereunder in the
trn1nt that prior t o payment . fo r such Bonds the int erest received by private holders
from bonds i ssued by public housing agencies in connection with low-rent housing or
slwn clear anc e projects shall be taxable by the terms ot any Feder al law hereaft P.r
enacted.
Banker s Trust Company
Phelps Fe nn & Company
Chemical Bank
Harris Trus t and Savings Ba nk
'l'he Chase Manh at t an Bank, N.A.
JOOO MANAGERS AND AS3'.J CIATES
Blyth & Co" 'Inc ~ . · Ba k
T
t C
n_e~r~:s;..._ru


..;;;;s;:;.;...;:,;o_m~p_a_n~y'----Lehman Brothe r s -&"-·- = -


Kuhnkn, 0£Loeb
& Co
. Isl ______
Rob ert
Wanglund
Ba
Americ
a _....__._
.____E,
....___
__._=.:="---As
sistant
Vice
Presi dent
Co
The First Boston
rp .
(Ho addition, alteration, or change is to be l!Wie to the above proposal.)
�I\'
HUD-S272g
(Formerly PHA-272g)
September 1966
c_o_"'_m_i_s_s_i_on_c_r_ _ _.;;.B.;;.l,;,i
nyt.:..;;.;o;.;.n.:......_ _ _ _ _ _ _ _ IIOTed that the
going reaolution be adopted aa introdueed and read, which motion
seconded b:,
Commissi oner
Gle nn
, and
fore-
va.111
upon roll
call the "Ayes" am "Nays" were as tollowas
ADS
.HA1S
Mr. F.clwin L. Sterne
Mr. J, B. Blayton
Mr. Jack F. Glenn
None
The Ch.airman thereupon declared said ad.ion carried and said resolution adopted.
The tollM~ resolution
wa.111
introduced by

Commis sioner
_ _ _ _B_l_a...,yt
....,
o_n_ _ _ _ _ _ _ _ _.,., read 1n .f\1ll and. comidereds
R&SOUJTIOH NO. _ __
Rl!SOLOTION EVI IENCIKl APPOINl'MmT OF FlSClL
AGENl' AND Atrl'HORIZI?ll EXECUTION OP' J.. FISCAL
.AGENT AOREEME!rl'.
Bl IT RESOLVED BY THE COMMISSIONERS
C,
THE HOUSING AUTHORITY OF
THE CITY OF ATI.ANTA, GEORGL\
Section 1. That
The Housing Authority of the City of Atlanta. Georgia
_ _ _ _ _ _ _ _ , shall enter into a Fiecal Agent Agree111111nt with
_ c_o_mp,;,.a_n..;y_o_f_G_e_or..;g"-i-a..;,_A_t_la_n_t_a..;,_G_eo_r
..;g"-i-a_ _ _ _ _ _ _ _ 1D
Trust
aibetantially the
form set forth u.rxier Section 3 hereof.
Section 2.
The Qi.airman aoo/or Vice-Ql&irman is hereby authorized
and direr.~-,1d to execute said Fiec:il Agent Agreement as set .forth .;.:ner
Section .3 !lereof, on behalf or thic Authority-, and the Secretary !..s hereby
auth.: rized and directed
to i-:ipress •.-he
seal or this Authority thereon and
to attest such seal, and to transmit fiTe copies thereof to the Housi~
.Aasistance Administration.
Section J.
The Fiscal Agent Agreement referred to here!n shal ,. be 1D
nbet.antially the follmn~ torm:
••
�3G-0362
Pagel of 3
RUD-52173A (Group Financlng)
January 1967 - Reiion 111
FISCAL AGi,;Nl' AGREEMENT
THIS AGREEMENT, entered 1.nto thla
day of
by and between The Housing Authority of the City of Atlanta, Georgia
19

Cheraln
called the "Agent Authority"), a duly organlzed and exiating public body corporat•
and polltic of the
State
Trust Company of Georgia
of
Georgia
• IDd
(herein called the "Placal Agent") 1 located at
Atlanta, Georgia
WITNESSE'nti
Wl!EREAS, a certain agreement dated u of
July 23, 1969
(herein
1
called the "Financing Agreement") between the Agent J.uthority and certain other
housing author1tie8 which are or may become parties to the Financing Agreement
(each of \Jhich is herein called "Member Authority") provides for cooperation in
the exerci.ae of their powers for the purpose of collectively financing certain lov•
rent housing projects of each Member Authority; and
WHERE:AS, 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 Contributiona
Contract called the "Public HouainB Administration" or the "PHA") now or here.a fter
included in the Financing Agreement provides for a loan and for annual contributions to be made by the Government to assi.at the Member Authority in developi.n1
and in achieving and maintaining the low-rent character of its low-rent houai.ng
projects;
WHEREAS, under the terms of the Financing Agreement, the Agent Authority
acting on behalf of and for the Member Authorities agreeJI to issue Bonda and
Notes and to designate a Fiscal Agent for the pay:nent of such· 3on ds and Notes 1
all as 1110re particularly descri~d in the Annuel Contributions Contract; and
IJHEltF.A.S, each Bond aesolution adopted by the Agent Authority purauant to
the Financing Agreement shall identify the pr o jects to be firuinced by the ia1ue
of Bonds authorLzed by such Bond Resolution and e&ch Member Authority and ita
Annual Contributions Contract in respect to any such projects;
N~, nti'.llEFORE, in consideration of the mutual coven.ants hereinafter aet fortb,
the parties hereto do agree .111,: fo I lows:
1. The Fiscal Agent has trust powers and is and ahall continue to be a 111911'ber
of the Federal Deposit Insurance Corporation aa long as this Agreement la in force
and effect.
2. nie Fiscal- A11.ent here'by accepts t he powers, <luties and obliga tions conferr e d and i.J:,?osed 1.. ?on it as Fiscal Agent by the Annual Contributions Contrect and
by t he 3ond Resol utions which m..y be a do pt ed from time to time by the Agent Authority and each s ucce~so r A~cnt Authori ty pursuant to the Finan c ing Agreement and vhicb
confer and i.i:.;io s e 1..;:,or, the Fi.seal .~e,e nt the same 0r s imilar :x:>"" e rs, c uties and
obligations ""1tn res pect t n a adi t i onal ~ssues o f Donds 11s the Bond Re.solution
authorizing the ~ssuance of the first issue of Bonds pursuant to the Financing
Agreement .
·
3. The Fiscal Agent shall, as provided in the Bond Resolutions, establish
and mai ntain a Debt Serv i ce Fund and a n ,\ dva nc e All¥:lrtization F\Jnd for the receipt,
deposit and dis bur se=nt of c:ioniea. Each Mem ber Au t hori ty shall deposit with the
Fiscal Agent in t 'l c res;>ecti.ve Funds and the Fiscal .A gent shall accept for depoa i.t
all monies (i.nclucing a nnu al contri~r.Lons payab l e to the Member .Al.lthority by the
Govcrn::ient ""hich are de?O S Lted with the Ba nk as Fiscal Agent pur su ant to the Annual
Contr i b\Jt i. ons C,rn :.ract ano c-.., Bond ~esolutions. All 1DOnie.s s o deposited with tbe
Fiscal ~ge n~ shall be held by the F is ca l Agent in trust in the respective Funda and
shall be a;i plied by the Fisc.l Agent as provided in t he Annual ·eontributiona Contrac t and the Bond Re so luti.ona.
·.
�HUD-52173A (Group Financing)
March 1967 - Region Ill
4.
Page 2 of 3
A. The Fiscal Agent shall purchase, w·ith monies from the Debt Service
Fund and the hdv3nce A.n0rti zntion Fund, and sell investment securities as
the A11:ent i1uthority 1,1ith ti ,.- a:,;,roval of the Government may direct. The
Fiscal Aeent shall in any event sell any such securities to the extent
necessary to provide cash in t:1e Funds to make any payments or tranafera
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 s'afelteeping for account of the Funds and interest on such
secur1t1es 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 pa; 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 Government of the balances in said Funds.
5. All monies held by the Fi.seal Agent in the Debt Service Fund and in the
~dvance Amortization Fund shall be secured at all times by the Fiscal Agent with
either direct obliiations 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 tr/ the Agent Authority pur~~ant to the Financing Agree-
ment.
6. On or before each date of maturity of the principal of and interest on the
Bonds authorized under the Bond Resolutions, the Fi.seal Agent shall make provision
for the transfer of monies from the Debt Se rvice Fund to the bank or banks (herein
collectively call ed 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 payment.
7. The Agent Authority shall pay to the Fiscal Agent for its services and th3
services of the Alternate Paying Agent the following fees and charges:
A.
annual admini.s.tration charge of $100 plus 1/100 of
1% of the principal acnount 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:
An
1~ each for each coupon of each maturity.
c.
For the payment of bonds (registered or coupon) of each
issue:
$1.25 per bond.
D.
For the payment of ii:tcres~ on registered bonds:
25C per check disbursed.
E.
For registration of bonds:
An
-F.
initial fee of SOC f or the registration of each bond.
For_ sorting, listing, cremating, and furnishing
certificate of cremation:
lC for each coupon and 1½¢ for each bond or minimum of
$10 for each semi-annual cremation.
The Fi.sea} Agent agrees to pay all fees and charges of the Alternate Paying Agent
�3G-0362
HU[t'52173A (Group Financing)
January 1967 - Region Ill
Pace 3 of 3
8. The rights and dutie.s of the Fiscal >gent under this Agreement shall not
be transrerred or assigned nor shall this Agreement be terminated by either party
except that upon the assignment or termination of the rights, powers, and dut id
of the Fiscal Agent pursuant to the terms of the Bond Re.solution.,, thh Agreement
shall be similarly assigned or terminated.
9. The Agent Authority and the Fi.seal Agent agree that at the end of three
years or such earlier time as reasonable aecurate data are available to el1able 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 incre.asing such amount to provide a re.aaonable
margin of profit for the services provided for hereunder.
10. Thi.a 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 •ame
instrument.
IN WITNESS :.Jl,EREOF, the Agent Authority and the Fiscal Agent have caused this
Agreement to be exec11ted in their respective names and their respective seals to be
impressed hereon and attested all as of the date and year first abo~e written.
1llE HOUSING AUTilORITY OF THE CITY OF
Agent Authority
ATLANTA 0 GEORGIA
(SEAL)
ATrEST:
By_ _ _- - , - - - , - - - - - - - - - - - - - -
Cha irman
Secretary
(SEAL)
TRUST COMPANY OF GEORGIA
Fi.seal Agent
AITEST:
By_ _ _ _ _ _ _ _ _ _ _ _ __
,,..
�'(
I

~
r
.
Upon motion made by Mr. Glenn and seconded by Mr. Blayton, the following 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 theHousing 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.
t Upon motion made by Mr. Blayton and seconded by Mr. Glenn, the following 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.
Complete Wrecking & Grading, Inc~
Continental Wrecking Corporation
$16,636.00
14,764.00
7,988.00
WHEREAS, Continental Wreckin$ Corporation having submitted the
lowest bid in the amount of $7,988.00;
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 - 1, as
covered by their bid received on November 7, 1969.
·
-- -C
.
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