---
date: 1948-05-04
title: May 4, 1948 Minutes
source: 1948-05/1948-05-04_May 4, 1948_Minutes.pdf
pages: 1
---

May 4, 1948

CITY OF STOCKBRIDGE
HENRY COUNTY, GEORGIA MAY 4, 1948

A regular meeting of the Stockbridge City Council held at the City Hall on Tues. night May 4th.

Meeting called to order by the Hon. Mayor, R. E. Lee, with the following members present: F. G. Owen, W.
L. Wyatt, J. T. Mays and G. S. Keen.

Mr. H. S. Huggins of the John J. Harte Co. met with us and we had quite a discussion of specifications of
waterworks and Mr. Huggins is to draw up some plans with different specifications to meet our demands in
regard to fire protection.

Minutes of last meeting read.

Upon a motion by F. G. Owen and 2nd by J. T. Mays and carried by a vote of the Council to stand approved
as read.

An amendment to the RESOLUTION past at the last meeting in regard to letting Mr. Cochran use water from
the City well. It is to read as follows:

That any citizen or group of citizens of the City of Stockbridge who wishes to use the City wells and furnish
pumps and materials for such purposes and it is understood that there isn't any water to be sold and the said
City isn't liable in any way for any expense or damage that might occur from such action and that the wells
are to be turned back to the City at any time they might need same. This amendment was carried by a motion
by F. G. Owen and 2nd by J. T. Mays and carried by a vote of the Council.

A motion by F. G. Owen and 2nd by J. T. Mays and carried by a vote of the Council to adjourn.

G. S. Keen, Clerk
CITY OF STOCKBRIDGE
HENRY COUNTY, GEORGIA MAY 6, 1948

A call meeting of the Stockbridge City Council held at the City Hall on May 6th 1948 at 5 o'clock p.m. Meeting
called to order by the Hon. R. E. Lee, Mayor with the following members present: W. L. Wyatt, F. G. Owen,
J. T. Mays, H. R. Turpin, G. S. Keen and Mr. J. H. Austin of the Brooke & Tendall Co. met with us.

The following RESOLUTION was read to the Council:

1140 Citizens & Southern Banking

Atlanta, GA May 6th 1948

The Mayor and Council
Stockbridge, GA
Gentlemen:
We make the following proposal:

For an issue of $50,000, Town of Stockbridge, Georgia, 4½ % Water Revenue anticipation certificates to be
dated June 1st 1948 in denominations of $1,000, interest payable semi-annually June 1st and Dec. 1st, both
principle and interest payable at same bank in the City of Atlanta, Georgia to mature as follows:

$1,000 on June 1 each year 1950/59 inclusive

$2,000 on June 1st each year 1960/70 inclusive

$3,000 on June 1st each year 1971/76 inclusive

Callable as a whole or in part in inverse numerical order on June 1st 1954 or on any June 1st thereafter,
upon thirty (30) days' notice at the following prices:

At 106 if redeemed in the years 1954/57 inclusive
At 105 if redeemed in the years 1958/61 inclusive
At 104 if redeemed in the years 1962/65 inclusive
At 103 if redeemed in the years 1966/69 inclusive
At 102 if redeemed in the years 1970/72 inclusive
At 101 if redeemed in the years 1973 or thereafter

The certificates to be delivered to us against payment in the City of Atlanta, we will pay fifty thousand
($50,000) dollars, plus accrued interest to date of delivery of the certificates to us.

It is understood and agreed, should the delivery of the certificates by delayed beyond a period of 90 days
from the date of this contract, the purchasers shall be under no obligation to accept and pay for such
certificates, but shall have an option to purchase said certificates at the price set out in this contract for an
additional 90 days.

These certificates are to be issued under the Georgia Revenue certificate laws and are to be a first lien on
90% of the gross revenues of the water system (except if agreeable to the bond attorneys) that when the
Town shall have on deposit in its waterworks system sinking fund an amount sufficient to pay principle and
interest on this issue for the current year and the next succeeding fiscal year, payments of 80% of gross
revenues may be made into the sinking fund. This provision shall not act to reduce the lien below 90% of
gross revenues. The Town of Stockbridge will, at all times, promulgate and maintain in effect, schedules and
fees sufficient to insure the payment of the principle of and interest on said certificates and to operate system.

CITY OF STOCKBRIDGE
5/6/1948
PAGE 2

It is understood and agreed that the purchasers shall not be required to pay for an accept delivery of the
certificates until the Town of Stockbridge shall have entered into contract for completed waterworks system,
which shall be approved as satisfactory by competent engineers and which shall be adequate to serve not
less than 95% of the 173 applicants who have requested a water supply from the City. Said contract for
construction of the completed waterworks system shall be secured by a bond to insure performance (we
may at our option agree to waive the requirement of a performance bond).

Respectfully submitted
Brook, Tindall & Co
By. J. H. Austin
The above offer accepted this 6th day of May 1948.

Town of Stockbridge

Attest By R. E. Lee, Mayor
G. S. Keen J. T. Mays, Jr.
City Clerk W. L. Wyatt
Harold R. Turpin
Frank G. Owen
Councilmen

After the reading of the RESOLUTION, a motion was made by J. T. Mays and a 2nd by H. R. Turpin and
carried by a vote of Council to adopt the RESOLUTION selling $50,000 waterworks revenue certificates to
Brook, Tendall & Co at 4½ % interest.

Upon a motion by J. T. Mays and a 2nd by W. L. Wyatt and carried by a vote of the Council to bury 4
fluorescent lights for the City Hall and have same installed.

Upon a motion by W. L. Wyatt and 2nd by J. T. Mays and carried by a vote of the Council to adjourn.

G. S. Keen, Clerk
