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09-26-1995 Special Called Meeting ~, r: ~ NOTICE. NOTICE. NOTICE September 22, 1995 The Peachtree City Airport Authority will hold a special called meeting, September 26, 1995, at its offices at 1130 Echo Court, at 7 p.m. This meeting will be held in lieu of the regularly scheduled meeting of October 4, 1995, which is by this notice canceled. Please see the attached agenda for the topics scheduled for discussion and action on September 26. The next regularly scheduled meeting of the Authority to conduct business will be held on Wednesday, November 1, 1995. ~ \~~ ~U~~~ James H. Savage Airport Manager 9-30-95 "....., PEACHTREE CITY AIRPORT AUTHORITY RECORD OF ATTENDANCE AS OF: September 30, 1995 Members Regular Meetings Meetings Regular Special Called Special Called Total Last 12 Months Attended Attendance Meetings Last Meetings Attendance % 12 Months Attended % David M. Good 10 10 100% 4 4 100% Viki Brigham 10 9 90% 4 4 93% Bob Patterson 10 9 90% 4 4 93% Dan Carr 10 8 80% 4 4 86% Mike Amos 10 10 100% 4 3 93% (1""'1 Members Dates Absent Type David M. Good Viki Brigham 7/5/95 Reoular Bob Patterson 11/2/94 Regular Dan Carr 10/5/94 Reoular 2/1/95 Regular Mike Amos 3/15/95 Special Meeting Dates Type 1/4/95 Regular 2/1/95 Regular 3/1/95 Regular 3/11/95 Special 3/15/95 Special 4/5/95 Regular 5/3/95 Reaular 6/7/95 None 7/5/95 Regular 8/2/95 Reaular 8/18/95 Soecial 9/6/95 Regular 9/26/95 Special 10/5/94 Reaular 11/2/94 Reoular 12/7/94 None ",..-.. f' Page 1 ,-" PEACHTREE CITY AIRPORT AUTHORITY MINUTES OF MEETING SEPTEMBER 26, 1995 A special called meeting of the Peachtree City Airport Authority was held in the Authority's office at 1130 Echo Court on September 26, 1995, at 7 p.m. Those present were: Chairman David M. Good; Members Vivian R. Brigham, Robert B. Patterson, Daniel E. Carr and Michael E. Amos; Airport Manager James H. Savage; and Authority Attorney Douglas B. Warner. Mr. James I. Pace representing Group VI Corporation was also present. I. ANNOUNCEMENTS None. II. ADDITIONAL AGENDA ITEMS ~ f A motion was made by Mr. Amos and seconded by Mr. Carr to add the following two agenda items: 95-09-10 Authorize the Chairman to execute a renewal contract with MilerTronics for navigational aid maintenance. 95-09-11 Approve loan agreement with Peachtree National Bank as outlined in a PNB letter of September 6, 1995. The motion passed unanimously. III. APPROVAL OF MINUTES A motion was made by Mr. Amos and seconded by Mr. Carr to approve the minutes of the September 6, 1995 meeting as corrected by Ms. Brigham. The motion passed unanimously. 1 IV. REPORTS ,.... k. Airport Manager. Mr. Savage briefed the Authority on the following issues: 1. On September 10, the Confederate Air Force held a one day fly-in and static display of a B-17 and a Heinkel H.E. 111 owned by the CAF wing in Arizona. They report good crowds and a good time had by all who attended. 2. On September 13, Mr. Ray Fletcher of the Georgia Department of Transportation did an annual inspection of the airport. He checked the approach slopes of both ends of the runway and reports no current penetrations by trees or other obstructions, but indicated that he believes the small pine trees planted along the southern boundary of Planterra Golf Course will within a year or two become obstructions for the approach end of runway 13. Calculations of the current number of operations and based aircraft for Peachtree City-Falcon Field are as follows: ~ Operations: Based Aircraft: k Airtaxi 1,925 t , Military 2,500 Jets 3 Itinerant 20,732 Multi-engine 18 Local 24.150 Single-engine 86 Totals 49,307 107 3. Between September 14 and 18, the Bonanza Society held a Southeastern Region fly-in. Over 28 aircraft attended the four day event. Most participants stayed at the Peachtree Executive Conference Center and took tours of the Delta Air Lines Technical Operations Center, Atlanta Air Route Traffic Control Center, played golf, held two cookouts at the airport and dined at Hogan's Heroes in Hogansville. Airport tenants Harold Bost and John Selmer were hosts. Indications are that they will be back. 4. Group VI reports that plans for the ground breaking for the Aviation Center are being handled by Tray Baggerly and Debbie Bailey of the Business Ledger. The planned date for the event is October 16, at 11 :00 a.m. Congressmen Mac Collins and Newt Gingrich have been invited, but both will be unable to attend due to previous commitments. ,.... 2 On September 25, Chairman Good and Mr. Mike Gunn executed a ground lease agreement, allowing Mr. Gunn to build a private hangar adjacent to the northwest aircraft parking apron. Mr. Gunn anticipates construction to start within the next 60 days. 5. r- 6. As of 2 p.m. this afternoon, the Automatic Surface Observing System (ASOS) was fini:llly commissioned. This comes after several letters and telephone conversations were made to the FAA, National Weather Service, Congressman Collins' office and two and one half years of the system operating in a "test" mode. Pilots will now be able to retrieve local weather conditions by telephone, local radio broadcast and at remote locations from the NWS pilot weather system. 7. Mr. Savage met with Mr. Gary Blackstone of Stevens Aviation this morning and discussed the following issues: a) r- . r- f Mr. Blackstone has identified an individual who can install a compass rose on the airport for less than $1,500. He will verify that the area planned for the rose (the northwest runup pad) does not have any magnetic anomalies, layout the compass headings and paint the markings on the apron. As part of the lease agreement for the old maintenance hangar, the Authority is responsible for the cost of installing a compass rose which can be used by all airport operators to check the alignment of aircraft compass systems. b) Stevens has hired a new FBO line supervisor, Mr. Lance Avery to oversee line operations. He started September 25. c) Stevens will provide a garden hose adjacent to their aircraft paint striping bay and allow airport tenants to wash their aircraft at that location, rather than in front of the FBO. If the cost of collecting the runoff from washing operations becomes excessive (fluid collected must be hauled to a waste disposal plant at the cost of $.37 per gallon), a system to meter the amount of water used may be installed and an appropriate fee will be collected from the users to offset those costs. d) A slab of concrete that starts on the Hunting/Stevens ramp has begun to migrate down hill by some three inches and is causing the adjacent asphalt apron to buckle upward. By the lease agreement, it is Stevens' responsibility to maintain the grounds and pavement of the existing FBO area. 3 8. Mr. Savage spoke with Mr. Cameron Bryan of the FAA Airports District Office regarding the possibility of any "fallout" funds from FY 1995 being available for the Aviation Center apron paving project, prior to the end of the current fiscal year which ends Saturday, September 30. Mr. Bryan indicated that no such were available at the present time, but it is still possible and he would keep us in mind. The project is scheduled for FY 1996 funding, which may not be available until December 1995. ",.., 9. Mr. Savage has received proposals from several sub-contractors to build the various component pieces of the T-hangar project. This process 'Was started as a result of the high bids received for building the entire job, the lowest of which was some $69,000 over estimate. It appears that the Authority will be able to build the unit for approximately $315,000, or slightly more than $4,000 over original estimate. ,..... 10. Mr. Savage met with Ms. Annette Bowman, City Planner, to review the Authority's construction plans and to tour the airport. Ms. Bowman believes that because the T-hangar and Mr. Gunn's hangar are shown on the Master Plan that was approved by the Planning Commission previously, she will be able to issue a "report to the commission" rather than bringing the projects to the Commission for review. As to the Aviation Center, Group VI is responsible for this project and most likely it will require a full review by the Commission. V. OLD AGENDA ITEMS None. ,..... 4 ,-, VI. NEW AGENDA ITEMS 95-09-06 95-09-07 - ; 95-09-08 r- ;;, Consider construction contract with Group VI to build Aviation Center. Mr. Amos announced prior to consideration of this item, that he would refrain from discussions and participation in any actions taken by the Authority on this issue due to a conflict of interest. Mr. Amos is an employee of Group VI. The remaining member of the Authority reviewed the proposed contract prepared by Mr. Warner and Mr. Savage. After the review, a motion was made by Chairman Good and seconded by Mr. Patterson to authorize the Chairman to execute the agreement as prepared. The motion passed with the four members voting in the affirmative. Mr. Amos did not vote. Consider adoption of operating budget for the Peachtree City Airport Authority for the first half of FY 1996. Mr. Savage presented the proposed budget and outlined the changes from the current budget on a line-by-line basis. After some discussion, a motion was made by Ms. Brigham and seconded by Mr. Patterson to adopt the budget as presented. The motion passed unanimously, with all five members voting in the affirmative. It was noted by Chairman Good, that even though the new budget reflects an increase in payroll cost, it will be necessary for the Authority to consider such an action separately at a later meeting. Consider airport operating policies for time period of the 1996 Olympic Games. A motion to table action on this item until a later meeting was made by Chairman Good and seconded by Mr. Patterson. The motion passed unanimously. 5 95-09-09 - 95-09-10 "......, 95-09-11 ('""" Consider low bid received from re-bid of the T -hangar taxilane project. After a brief report from Mr. Savage regarding discussions with the Georgia Department of Transportation about the fact that the lowest bid received still exceeds the original estimate by $14,545, a motion was made by Mr. Amos and seconded by Mr. Patterson that the Authority accept the proposal from APAC of Georgia, to build the T-hangar taxilane and associated work, subject to successful negotiations of pricing and work schedules that are acceptable to the Georgia Department of Transportation. It being the intent of the motion, that the Authority's maximum obligation for this project not exceed $16, 842.50, which represents 25% of the base bid of $67,370. The motion passed unanimously. Authorize the Chairman to execute a renewal contract with MilerTronics for navigational aid maintenance. Chairman Good advised the Authority that the proposed contract for airport navigational aid maintenance was for the same services and for the same rates charged by MilerTronics in FY 1995, and therefore moved to authorize the Chairman to execute the renewal as presented. The motion was seconded by Mr. Patterson. The motion passed unanimously. Approve loan agreement with Peachtree National Bank as outlined in a PNB letter of September 6, 1995. Chairman Good announced prior to consideration of this item, that he would refrain from any discussions or participation in any actions taken by the Authority on this issue due to a conflict of interest. Chairman Good turned the chair of the meeting over to Mr. Amos to conduct business during this item. Chairman Good is a member of the Board of Directors of Peachtree National Bank. 6 .. ....... ...., ... _.~._-~-_.._-_._...__..-_..- .._-_..__....."-_._._-_._-----------..--_.._-,--~-_._.-.__.-_.._~._-- -, i' After a review of the attached letter from Peachtree National Bank and a discussion with Mr. Savage on the current status of the loan negotiations, a motion was made by Mr. Patterson and seconded by Mr. Carr that the following resolution be adopted: r-, Be it resolved, that the Authority is authorized to enter into those certain loan transactions and borrow those certain sums as indicated in the commitment letter executed and delivered by Peachtree National Bank to Peachtree City Airport Authority dated September 6, 1995, a copy of which is attached hereto and incorporated herein by reference, and borrow an additional sum from said bank not to exceed $32,000.00; that due to a conflict of interest on the part of the Chairman with respect to this loan transaction, the Secretary of the Authority, Michael E. Amos, is hereby authorized and directed to execute and deliver any and all documents necessary to effectuate the closing of said loan transactions, including, without limitation, all promissory notes, affidavits, security agreements, collateral instruments, and any and all other documents incidental to the foregoing; resolved, further, that the Authority, by and through its Secretary, Michael E. Amos, is authorized and directed to take any and all other action necessary to complete said loan transactions. The motion passed with four members voting in the affirmative. Chairman Good did not vote. There being no items for discussion or action in Executive Session nor for further consideration in public session, a motion to adjourn was made by Chairman Good and seconded by Mr. Carr at 8:04 p.m. The motion passed unanimously. l Attested by: D C7rJ L/ David M. Good, Chairman 7 - - --.--'~-'--------'--'----'---'-------"'--'-'-'-"-~~-"'-'- ."..~.--......_---- - ---,- ~" l\ 1\1 Jl pea(~'~~::r ~~c~l'~~o~~})anH - ~t September 6, 1995 Mr. David Good Chairman Peachtree City Airport Authority Falcon Field Peachtree City, Georgia 30269 RE: Loans and Line of Credit Dear David: Peachtree National Bank values its existing relationship with the Peachtree City Airport Authority and is appreciative of the opportunity to participate with the Authority in this next phase of its growth. - The following is an outline of the provisions ofloans which we have discussed. This letter does not constitute a comIp.itrnent to make the proposed loans and is intended as an outline summarizing the primary loan terms. Any proposal by Peachtree National Bank to actually make the loans would be subject to the negotiation of all of the open issues as well as the credit approval of a participating bank. A. BASIC TERMS OF LOAN: Long Term Loans: I. Borrower: Peachtree City Airport Authority. 2. Loan Commitment Amount: $1,447,000 3. Interest Rate: Interest on the daily unpaid principal balance at a rate per annum equal to the product of point eighty-five (.85) times the Prime Rate in effect on each respective day - 4. Maturity: The term of the loan shall be fifteen years from date of closing. 5. Committee Fee: Borrower shall pay to the Bank a commitment fee equal to one quarter of one percentage point (.25%) of the' committed amount of the loan to be paid by Borrower at closing. Pest Ct:ce -:::',-:;\,/2(':'::-':( Pecd--.tres=,:-:.. ',?~c,,-~;:~=C=:;':;-2,j50 ,~':OJ) .:.13"" .;?~=(~ r-'" r-'" ~. r-'" , Mr. David Good Loans and Line of Credit Loan September 6,1995 6. Method of Payments: Interest shall be payable in consecutive monthly installments and principal in consecutive monthly installments in an amount sufficient to amortize the loan in fifteen (15) years 7. Prepayment: Borrower may prepay all or any portion of the loan at any time without a prepayment fee. 8. Use of Proceeds: The proceeds of this loan shall be used for those long term loan purposes outlined in the Loan Request dated August 1995 submitted to Bank. Short Term Loans: 1. Borrower: Peachtree City Airport Authority. 2. Loan Commitment Amount: $207,000 3. Interest Rate: Interest on the daily unpaid principal balance at a rate per annum equal to the product of point eighty-five (.85) times the Prime Rate in effect on each respective day 4. Maturity: The term of the loan will be seven (7) years from date of closing. 5. Committee Fee: Borrower shall pay to the Bank a commitment fee equal to one quarter of one percentage point (.25%) of the committed amount of the loan to be paid by Borrower at closing. 6. Method of Payments: Interest shall be payable in consecutive monthly installments and principal in consecutive monthly installments in an amount sufficient to amortize the loan in seven (7) years 7. Prepayment: Borrower may prepay all or any portion of the loan at any time without a prepayment fee. 8. Use of Proceeds: The proceeds of this loan shall be used for those short term loan purposes outlined in the Loan Request dated August 1996 submitted to Bank. Line of Credit: 1. Borrower: Airport Authority 2. 3. Loan Amount: S100,000. Maturity: One (1) years from the date of closing. 2 Mr. David Good Loans and Line of Credit Loan September 6, 1995 ,..., 4. Interest Rate: Interest on the daily unpaid principal balance at a rate per annum equal to the product of point eighty-five (.85) times the Prime Rate in effect on each respective day 5. Method of Payments: Interest shall be due and payable in consecutive monthly installments on the first day of each month and principal shall be due at maturity. 6. Prepayment: Borrower may prepay all or any portion of the Loan at any time without a prepayment fee. 7. Use of Proceeds: The proceeds of this Loan shall be used as working capital for the Peachtree City Airport Authority. 8. Clean Up Period: Borrower shall maintain a zero balance on the Line of Credit for a period of at least 30 consecutive days during any consecutive twelve month period. B. ADDITIONAL TERMS AND CONDITIONS: The loans will also be subject to the following terms and conditions: r- 1. Tax Exempt Status: Borrower will provide a representation in form and substance satisfactory to Bank that all loans are tax free loans. Borrower will further agree to a clause in the loan documentation stating that should the interest income derived by Bank from these loans subsequently be determined to be taxable income to the bank, the Airport Authority will at that time pay additional interest such that the interest paid on the loans shall be equivalent, during the period covered by the tax ruling, to an interest rate of one-half percentage point (.5%) above the Prime Rate in effect during such period. 2. Collateral: To the extent permitted by federal and state regulation all loans will be secured by a first priority security title and security interest in the Falcon Field facilities and the assignment of a long term land lease. 3. Expenses: Borrower shall pay all fees, costs, charges, and expenses with respect to the loans or its making, including the fees and expenses of the Bank's counsel for the preparation of the loan documentation and the examination of title, survey, and for closing the loans; title report and title insurance premiums; survey costs; recording and filing fees, documentary stamps; mortgage taxes; fees for any required appraisals, and any and all other taxes, fees, and expenses payable in connection with this transaction. ~ 4. Insurance Coverage: The Borrower shall provide for the following insurance coverages on all of the mortgage property subject to our approval of amounts, carriers, and policies, with standard loss payable mortgagee clauses in favor of Bank: ~. , :J ~ k ,-., Mr. David Good Loans and Line of Credit Loan September 6, 1995 a. Hazard insurance (fire and extended coverage) on all improvements in an amount equal to the full insured value but in no event less than that of the principal outstanding balances of the loans. b. Maintenance of comprehensive public liability insurance protection the Borrower and Bank, such insurance to apply against claims arising from any accident or occurrence in or upon premises. 5. Financial Statements: Borrower shall furnish to the Bank an annual audited financial statement in form satisfactory to the Bank within 90 days after the close of each fiscal year. 6. Environmental Law Compliance: The Borrower shall warrants that the conduct of Borrower's business operations will not violate any federal laws, rules or ordinances for environmental protection, regulations of the Environmental Protection Agency and any applicable local or state law, rule, regulation or rule of common law and any judicial interpretation thereof relating primarily to the environment or Hazardous Materials. 7. Indemnification: Borrower shall indemnifY Bank from any claims, resulting from the personal injury or death of an employee or users of the airport facility. 8. Deposit Relationship: Borrower will make a best efforts attempt to maintain Bank as its primary depository relationship. We certainly appreciate this opportunity to discuss potential financing opportunities with you. Hopefully, our terms are competitive and continued discussions will result in the establishment of a mutually beneficial relationship. Sincerely, Peachtree National Bank ~ homas E. Farr Executive Vice President 4 10-31-95 ,-,e PEACHTREE CITY AIRPORT AUTHORITY RECORD OF ATTENDANCE AS OF: October 31, 1995 Members Regular Meetings Meetings Regular Special Called Special Called Total Last 12 Months Attended Attendance Meetin!ls Last Meetln!ls Attendance % 12 Months Attended % David M. Good 9 9 100% 4 4 100% Viki Brigham 9 8 89% 4 4 92% Bob Patterson 9 8 89% 4 4 92% Dan Carr 9 8 89% 4 4 92% Mike Amos 9 9 100% 4 3 92% " Members Dates Absent Type . David M. Good Viki Briaham 7/5/95 Regular Bob Patterson 11/2/94 Regular Dan Carr 2/1/95 Regular Mike Amos 3/15/95 Special Meeting Dates Type 1/4/95 Regular 2/1/95 Regular 3/1/95 Regular 3/11/95 Special 3/15/95 Special 4/5/95 Reaular 5/3/95 Reaular 6/7/95 None 7/5/95 Regular 8/2/95 Regular 8/18/95 Special 9/6/95 Reaular 9/26/95 Special 10/4/95 None 11/2/94 Regular 12/7/94 None ,-, Page 1