Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

October 2, 2003



MEMBERS PRESENT

Steve Butler,Dick Ellis,Bob Gilson, Stella Shulman,Allen Taber, Fernando Verdree



MEMBERS ABSENT

Jimmy Yancey



ALSO PRESENT

Billy Blanchard, Carmen Cavezza, Blair Carnahan, Mike Gaymon, Jo Giles, Biff

Hadden, Becca Hardin, Rick Jones, Laura Lenander, John Mills, Dayton Preston,

Joe Sanders, Ed Sprouse; Janeen Tucker, Katherine Kelly



Bob Gilson, Chairman, noting that a quorum was present and proper notice had

been given in accordance with the requirements of Georgia law, called the

October 2, 2003 meeting to order.



MINUTES

Upon motion made by Allen Taber and seconded by Steve Butler, the Authority

unanimously approved the minutes of the September 4, 2003 meeting hereto

attached as Exhibit ?A?.



ECONOMIC DEVELOPMENT UPDATE ? Attached hereto as Exhibit ?C?.

1. Projects: Becca Hardin reported that there are 17 active projects

with 7 of them being ?hot?. There will be 2 prospects visiting the week of

October 13. The groundbreaking for H&K will be at 11:00am on Tuesday, October

14 at the site in MTP. There have been 6 inquiries via ED website; 8 suspects,

and 1 hot prospect in South Columbus.

2. Marketing: The CoreNet Trade Show is next weekend.

3. Other: Fort Benning Leadership Day was very successful.

Environmental Phase I studies need to be done on Lots 10 and 12 of MTP. Upon

motion made by Dick Ellis and seconded by Allen Taber, the Authority approved

the following funds from the Millage Account for Environmental Phase I Studies

- $ 1,500 for study on Lot 10 by Building and Earth Science and $ 1,800 by GEO

for study on Lot 12.



OLD BUSINESS

CRTC Update ? Blair Carnahan gave an overview of what has been happening with

CRTC. There is a three-prong strategy: 1) awareness with the formation of a

Technology Association (information about inaugural event is found in Exhibit

?D?, 2) Blair is an advisory for Tech Link, and 3) the Cunningham Building

should be having classes by September 2004 with CRTC area available January

2005. He is working on getting space pre-leased. He has received a grant to

visit the incubator facilities in Cork, Ireland.



Upon motion made by Steve Butler and seconded by Allen Taber, the Authority

approved to pay the $1,000.00 fee for Blair Carnahan to participate in the

Intercity Visit to Indianapolis.



Mike Gaymon recognized Dayton Preston for his 12th anniversary at the Columbus

Chamber.



FINANCIAL REPORT

Fernando Verdree reviewed the financial report for September 2003. He reported

that it was a good month for bond issue closings. Upon motion made by Stella

Shulman and seconded by Steve Butler, the Authority unanimously approved the

September2003 Financial Reportwhich is attached hereto as Exhibit ?B?.



NEW BUSINESS

HB 237 ? Rick Jones was present to explain the status of this bill which would

allow water supplies to be tapped and sold to some other area. Upon motion

made by Dick Ellis and seconded by Steve Butler, the Authority authorized J.

Edward Sprouse, legal counsel to the Authority, to prepare a draft resolution

in opposition to HB 237 for adoption by the Authority.



PROPERTY

1. Dayton reported the assistance that commercial realtors are giving

to find properties for prospects.

2. Kathy Allen of DOT representing the Federal Government is going to

approve the documents to hold a hearing on November 18 at 5pm at Forest Road

Elementary School for the MTP road. This would allow serious work on the road

to begin in mid January for the first phase of a 4-lane highway through MTP.

3. Progress continues with controlled cutting in MTP. The water and

sewer will be available to prospects as needed.

4. Plans for a road in FLBC proceed. At first, the road will probably

be a loop road. The FLBC Master Plan is almost ready for approval by the

Authority.

5. The Authority will invite Rufus Griggs to its November meeting in

order to publicly thank him for all his extra efforts with keeping land clean

for our prospects.



LEGAL ISSUES

1. Ed Sprouse reported the closing on the sale of the 8.9acres to

Kysor. This land will now go on the tax digest. A Quit Claim Deed was

executed to convey the 60-foot way adjacent to the property which had been

platted but never dedicated to the City.

2. Upon motion made by Allen Taber and seconded by Steve Butler, the

Authority approved the resolution attached hereto as Exhibit ?D? authorizing

the resignation of Bank of America as Trustee for the Total System Services

1997 Bond Issue and the designation of Synovus Trust Company, NA as the

successor trustee for the Bond Issue.

Upon motion made by Allen Taber and seconded by Stella Shulman, the Authority

authorized the execution of amendments to the lease agreement documents for the

Total System Services 1997 Bond Issue to extend the maturity date from December

1, 2012 to December 1, 2017.



3. Upon motion made by Dick Ellis and seconded by Allen Taber, the

Authority authorized the execution of a Quit Claim Bill of Sale effective

December 31, 2002 re-conveying to Swift Spinning, Inc. assets acquired with

bond proceeds which were disposed of by Swift Spinning, Inc. during 2002.



4. Ed Sprouse reported that the following bond issues were closed

during September: La-Z-Boy, Residence Inn and Fairfield Inn, and the refunding

issues for Columbus Park Crossing.



Mike Gaymon reminded everyone that the Legislative Express is this evening.



There being no further business to come before the Authority and upon motion

made by Steve Butlerand seconded by Fernando Verdree and unanimously adopted,

the meeting was adjourned.



By:_____________________________

J. Edward Sprouse, Secretary



Approved by:



____________________________________

Robert M. Gilson, Jr., Chair