BRUNSWICK AND GLYNN COUNTY
DEVELOPMENT AUTHORITY

CALLED MINUTES – July 1, 2015
Chamber Small Board Room
3:00 PM

BOARD MEMBERS PRESENT
BRUCE DIXON
CEDRIC KING
MISSY NEU VIA PHONE
SUSAN EASTIN
WAYNE JOHNSON

BOARD MEMBERS ABSENT

OTHERS PRESENT
MEL BAXTER, STAFF
DAVE SMITH, STAFF
JOHN SCOTT, STAFF
REES SUMERFORD, COUNSEL
DAVID MANNING, MANNING AVIATION
BROOKE MANNING, MANNING AVIATION
I. CALL TO ORDER –Chairman Bruce Dixon

II. INVOCATION and WELCOME GUESTS – Chairman Bruce Dixon gave the invocation and welcomed David Manning and Brooke Manning of Manning Aviation.

III. NEW BUSINESS

A. APPROVAL OF FORWARD DELIVERY AGREEMENT (FDA) RESOLUTION – Rees Sumerford as counsel for the Authority presented to the Board a Resolution (the original of which follows these minutes). Mr. Sumerford explained that the County desires to authorize the execution and delivery of a Sinking Fund Forward Delivery Agreement among the County, Citibank, N.A., and Regions Bank, pursuant to which the monies in the Sinking Fund for the Series 2015A Bonds will be invested. Mr. Sumerford explained that by adopting the Resolution made a part of these minutes, the Authority authorizes a First Amendment to the Intergovernmental Contract between the Authority and the Board of Commissioners of Glynn County to allow the addition of a schedule of annual sinking fund payments for the Series 2015A Bonds.

A MOTION was made by Cedric King, seconded by Susan Eastin and passed to approve the FDA Resolution as presented. The MOTION carried unanimously.

IV. ADJOURN

A MOTION to adjourn was made by Wayne Johnson, seconded by Cedric King . The MOTION carried unanimously. The meeting adjourned at 4pm.

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Approved Board Meeting

Attest:
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Sherri Pruitt
Office Coordinator
Brunswick and Glynn County Development Authority

Attachments may be viewed in the Minutes Book at the Brunswick and Glynn County Development Authority office at 1505 Richmond Street.