The 1.7 million $

A blogger today said the money above, borrowed by the Tennis Center and a Tennis Pro, (my words) went to developers!

Just when I think I know where it went (I understand the books were no good at the old authority)someone else says it went another place!

The Peachtree Nation Bank itself must at least have known how the money was spent by their own records---or are we saying the Tennis Center didn't bank there?

Some people understand that the regular expenses of the Tennis Center were so much more than the income (not counting the loan) that the loan was primarily used for daily expenses, like large payments to Pros!

If some building or equipment was bought with the money, why wasn't it sold to pay the debt?

Was it the restaurant?

This is almost as bad as the skid loads of cash sent to Baghdad, after the bombing, for our freedom medal winner to allow to be stolen!

This was a problem for the Bank only! They loaned the money to an authority--not PTC.

Don't give me that crap about afraid of a law suit! Since when?

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Submitted by Nitpickers on Sat, 08/30/2008 - 4:51pm.

I thin k it is still missing!

pentapenguin's picture
Submitted by pentapenguin on Tue, 12/18/2007 - 11:46pm.

I was really getting worried there when I saw this blog's title! I was thinking that Nitpicker$D$smithBonker$ was saying that he had 1.7 million usernames. Smiling

Submitted by Jones on Tue, 12/18/2007 - 6:33pm.

Tom Farr worked for the bank and was chairman of the development authority. Doug Warner, a Ramsey supporter, was the authority's attorney and later an authority member as well as a board member of the bank.


Submitted by skyspy on Tue, 12/18/2007 - 4:35pm.

Illegal tennis center loan, the books......good ole boys at the bank......mayor who needs to be paid off.......developers who quite frankly couldn't possibly build an outhouse and do it right.... that is why the tennis center and the police station leak and have mold problems......take a wild guess at who gets to pay for ALL of these "mistakes" that were done on purpose!!!?

tortugaocho's picture
Submitted by tortugaocho on Tue, 12/18/2007 - 4:27pm.

"This was a problem for the Bank only! They loaned the money to an authority--not PTC.

Don't give me that crap about afraid of a law suit! Since when?"

Very true Nit....Bank makes bad loan; no collateral; no money. Whoops --- that means that Lawyer "It was a Mistake" Oldenburg, Lawyer Warner and Council/Dev Auth Octopus Brooks would have been called on to pony up payment for the bill.

We couldn't risk a jury trial on that could we ??????

Submitted by skyspy on Tue, 12/18/2007 - 4:39pm.

We should have made the bank eat this one. They could have foreclosed on it, sold who I don't know....since it obviously was a pooooorrrrr "buisness" decision. It was a money loser from the start.

Mike King's picture
Submitted by Mike King on Tue, 12/18/2007 - 5:01pm.

there's obviously fire. Supposing this were all true and the facts would stand up in court, then as concerned citizens we have an obligation to see that those responsible are held accountable. Shoddy record keeping or not, shadowy spheres of influence, and the like are but a few of the many reasons this whole debacle from start to finish needs a complete airing.
On the other hand, if this whole conspiracy is a falsehood, then why have the powers that be have not gone public with a full disclosure. Could it be that the current and two previous city administrations do not want the public to truly know how our city is run? Surely this is not the case.
I would like to publicly challenge the new City Council to release a complete disclosure from the conception of the Tennis Center until the decision was made to pay the debt. Afterall, it's our tax money we are talking about. I for one have heard much of the rhetoric on both sides and believe it to be high time we put this thing to rest.
How about it?

Submitted by Nitpickers on Tue, 12/18/2007 - 6:22pm.

Just what you asked for has been demanded by several others, but the trouble is that no one with the power or knowledge to issue such information wants to do it.
I'll never understand how the lawyers for both sides got a judge to accept such an agreement unless no judge was ever consulted!
The Peachtree National Bank made the first mistake, Then the cover-up began.
The fact that an "authority" was involved made it easier to do. The authority was dis-banned, after board resignations, and a new authority formed.
The new authority owes nothing, just the city!
You were here weren't you?
One can't even to this day get an accounting in detail of the current running of the Amphitheater and the Tennis Center separately.
Just income and expenses for both--no hint of any balances owed. Don't know how town has this on the books! Probably a bond.

CCB's picture
Submitted by CCB on Tue, 12/18/2007 - 5:23pm.

Oh boy, my good friend Scott Bradshaw exposed the whole thing. Scott, a man of integrity, showed the whole thing was a scam. It was all over the newspapers.

Scott was the vice chariman of the authority.

NUK_1's picture
Submitted by NUK_1 on Tue, 12/18/2007 - 7:11pm.

Bradshaw was on the authority most of the time and never said anything either. He was as aware as the rest that there was no budget, no plan, nothing. It wasn't until outside auditors Mauldin and Jenkins came in and said that it was an accounting nightmare did he step down. There was a lot leading up to that point that he seemingly ignored like the rest.

The Airport Auth wasn't exactly running well either. They were borrowing short-term money at high interest/loan-shark rates until Lenox came up with a plan and got all their debt consolidated into much lower interest around 2000 or so.

Submitted by McDonoughDawg on Tue, 12/18/2007 - 8:08pm.

The supporters of both of the main candidates embarassed themselves on these forums, IYAM.

Git Real's picture
Submitted by Git Real on Tue, 12/18/2007 - 8:22pm.

I got nailed too. I'm not sure it was a wise thing to post that though.

You might want to edit your post before someone responds and you give that away to some nutcase.

NUK_1's picture
Submitted by NUK_1 on Tue, 12/18/2007 - 8:15pm.

I think you're right, Git.

Git Real's picture
Submitted by Git Real on Tue, 12/18/2007 - 8:32pm.

Great Job.

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