The Union Recorder

Letters

June 25, 2014

KIDD: Speak up or roll over

MILLEDGEVILLE — I was waiting to publicly voice my opinion and concerns, waiting to see what action, if any, our Mayor and his city council would take after the horrendous actions and comments by our city manager and council members. As you might expect, numerous citizens have voiced concern and wanted to know what I could do.

Do you want your child to hear this and act this way? I doubt it.

Now comes a letter from our city manager who states “after receiving multiple quotes from our financial institutions — on CD rates, I moved the money to Wells Fargo” into an annuity.

Our city council met at a called meeting by the Mayor asking them to ask for the resignation of City Manager Barry Jarrett. As expected, city council took no action therefore giving tacit approval for the action of retribution, the transfer of millions of dollars by a non-elected person without local comparing and quotes of apples to apples for insured funds. Mr. Jarrett did apologize for his comments and actions — but.

He did not get a quote on any annuity rate but chose to put the citizen’s money at risk, uninsured by the failed AIG group with an annuity that most likely has a very high withdrawal penalty if not kept in the fund for who knows how many years according to Georgia law.

Georgia law OCGA 36-83-4, the purchase of an annuity by a governmental entity (city council) is NOT among the approved list of investment instruments a city government should purchase to protect taxpayer funds.

I commend our local Wells Fargo Office for securing these funds with a commission fee of possibly up to $75,000 or as much as $200,000 of our city’s money. I hope that duck don’t quack.

Was our Mayor or elected commissioners told of where the funds were being put and into what fund at what rate, what cancellation rate, and what commission rate? Probably not, just asking approval to take retribution action.

Were CD rates shopped locally? Not by any officer of our local banks.

Were annuity rates shopped locally? Not from local banks I talked with.

Currently, Mr. Jarrett has invested $1,027,509.64 in out of town banks in 4 CDs, another $1,400,831.93 in notes, another $1,024,743.51 in four other out of town CDs, another $1,017,612.75 in four other out of town CDs and lastly, $5.12 million in a 60-month (five-year) annuity, which was NOT shopped locally, all through Wells Fargo Advisors.

What was told to both council members and the public? The whole truth? Apples compared to apples? Most likely not. No, it was not!

Can other business interest in Milledgeville who do business with the city or their employees, when on the rare occasion the city does spend locally, risk retribution for an individual speaking up as our First Amendment to the U.S. Constitution allows or risk retribution against their business or that of their employer for speaking out as did Chat Daniel, employee of Century Bank, and has threatened others.

Most of our city council members have demonstrated that they could care less about the law, public trust, opinion or the truth and they just do what they choose, including violate law — violate public trust and lie to the public.

A lie is a lie and this is what our city manager has done verbally and now in his letter and this is what our city council has done to us the taxpayer — lie!

If you, regardless of your position, are as outraged as I am and the untold number of others who have contacted me, it is your right — your responsibility to voice your thoughts — be it a one paragraph letter or as long as this, but do not just sit back and take it!

You cannot sit by and let elected or appointed persons do what has been done or it will happen again and again.

Speak up or roll over and accept the lies and corruption of city government!

 

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