Page 6 of 12 Feb 1988 Issue of Blytheville Courier News in Blytheville, Arkansas

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Blytheville Courier News (Newspaper) - February 12, 1988, Blytheville, ArkansasPage 6�?courier news Blytheville Ark a Friday february 12,1988teacher retirement system buys Bonds from Phillips port authority Little Rock a the Purchase of $25 million in Bonds to build a Slackwater Harbor and port Industrial Park at Helena has been approved by trustees of the state teacher retirement system Board. The Bonds would be sold by the Phillips county port authority which seeks to Start construction a Vii ukr iii Arkansas on the Mississippi River next year. The state Public employees retirement system purchased $25 million in Bonds from the port authority in december and the authority plans to pay that loan Back next week. The port authority will do nearly the same with the Money from the teacher retirement system except that it plans to keep $500,000 to w land options and qualify for Cuc amp of Airall of. Using about $24.4 million the port authority will buy government National mortgage association notes. Those notes Are to the port authority a higher rate of in Terest than the rate the port authority must pay on its loan from the retirement system. Within 10 years the investment should be valued at $25 million which would allow the port authority to pay off its loan from the teacher retirement system officials said. The Deal was assembled by the Stephens inc. Investment banking firm of Little Rock which is to receive $250,000 from the transaction. Bond counsel and trustees ��1 tic Leal Aielo eau Aucul $43,000. State representatives Earnest Cunningham a Helena and Robert Mcginnis a Marianna and sen. Paul Benham d Marianna urged the Board to buy the port authority Bonds. However Robert Rahrle of Jonesboro who was the Only member of the 10-person Board to vote against uie proposal said the system could earn a higher interest rate elsewhere. Also he noted that Only $500,000 of the $25 million loan would be spent on construction. Earnest Butler an executive vice president of Stephens said other investments May yield higher interest rates but would t help Arkansas businesses and would take longer to mature. He said the retirement system would earn at least 6.25 percent More in interest than on comparable 10-year government Loans. The Public employees retirement system earned 9.25 percent annual interest on its loan but Market conditions have changed. If the transaction had been completed wednesday the system would have earned 8.4 percent. The Bond Issue could run afoul of the teacher system s investment policy which recommends a 10-year maximum maturity on fixed income investments. The authority expects to pay off the Bonus within 10 years but that in t guaranteed. The Public employees retirement system changed its investment policy to allow it to buy the port authority s Bonds. The policy prohibited investments m private placements or securities offered in a limited number of investors rather than in a Public offering. The policy was waived Over the objections of state auditor Julie Hughes Jones a Public employees retirement system Board member who criticized the financing arranged by Stephens. She resigned As chairman of the Board s invest Ideiil recently because of her dissatisfaction with the decision. De Queen City manager unhappy about water costs review hearing Sci Edued in train investigation Benton Ark. A More than 30 witnesses have been subpoenaed to testify next week at a prosecutor s hearing about the deaths last summer of two teenagers. Deputy prosecutor Richard Garrett said the hearing is to be conducted feb. 18 and 19 into the deaths of Kevin Ives 17, and Don Henry 16. The boys were laying Side by Side when they were struck and killed by a Union Pacific train Early on aug. 23 near the Arkansas 111 crossing West of Alexander. Parents of the boys who would have been seniors at Bryant High school have said they suspect the boys were murdered. However Saline county authorities ruled the deaths were accidental. State medical examiner or. Fahmy Malak said both boys were in a deep sleep induced by smoking marijuana. Garrett said additional witnesses May be summoned. The subpoenas issued thursday were for authorities from Bryant Benton Shannon Hills and Saline county in addition to medical personnel. The parents Larry and Linja Ives and Curtis and Marvelle Henry called this week for a a and jury investigation of the deaths. Garrett said thursday that such an investigation is possible. Quot in a prosecutor s investigation an in depth investigation is conducted to review the Case and All the evidence to determine if charges Are to be levied or if further investigation is needed quot Garrett said. Garrett said his investigation which is to be conducted in open court was called because quot the parents obviously Don t feel they have found out everything they need to find out and i really feel like we have an obligation to provide them with that information and they have the right to receive on tuesday the fathers of the two boys met with Malak and obtained tissue samples. A rays and toxicology reports they say they had been denied earlier. They Are to be studied by an Independent forensic pathologist. De Queen Ark. A City manager Ken Moore was unhappy when the . Army corps of engineers wanted to double the City s Cost for water from de Queen Lake and now the Price is going higher. In 1981, the City signed an agreement to Reserve up to 6 million Gallons per Day in de Queen Lake at a Price of 2.4 cents per 1,000 Gallons. Last summer de Queen voters approved a City sales tax to fund a water pipeline from the Lake. But when the City informed Lake officials of its plans to use Lake water the corps notified the City the Price would instead be 4.8 cents per 1,000 Gallons. Quot when we decided to run a line to de Queen Lake the corps said they made a math error and that the water would be 4.8. We walked and wrote All of our congressmen and tried to get the corps to come Back Down to our original agreement quot Moore said. Quot at that time the tri lakes water District and the corps agreed that we should get the water at the original 2.4 cents per that agreement had to be approved by corps officials. Quot the paperwork has to travel through the bureaucracy and by the time the paperwork got to Washington they dictated the water Cost would have to be in excess of 7 cents per thousand quot Moore said. He estimated the City would have Oaid about $14,000 per year for water at the original Price and that the City will have to pay More than $42,000 per year if the latest Price is enforced. In addition he said. Corps officials said there was a minor construction problem quot in that the they had not put in a piece of pipe Between the water in the Lake and the water output that de Queen would Hook so the City must pay to have the problem corrected. De Queen needs water he said but the City does not have to buy it from Lake de Queen. He said the City can draw water for free from below the dam. He said City engineers quot have come Down below the dam and tested the water and found us a Nice big Hole where we can get All the water we want for that area he said is about 2,000 Yards South of the dam and holds about 12 million Gallons of water. Quot we have tested the water and the Quality is nearly As Good As the Lake water quot Moore said. Quot the Lake water is our Best bet. We would like to go that route but i can t see paying $42,000 per year when we can get it free father of missing teen Ager s says Javeed to sell your car truck authorities Are not following Lea sin motorcycle camper or boat Mountain Home Ark. Apr Baxter county and Mountain Home authorities Aren t four wig up on leads provided to them about the disappearance of Tracy Lynn Baysinger nearly two years ago the girl s father says. Robert Baysinger of Harriet said in a recent interview that the authorities have leads indicating a girl who May be his daughter has been held captive in Kentucky by people involved in drug running and White slavery. Some of those leads Baysinger said were provided by him after he talked to a Man Mihr ironed for murder in Kentucky who claimed to know what Hai Ned to the girl. Arkansas authorities Haven t questioned the Man Baysinger said. But Baxter county sheriff s office investigator major Mcpher son said his office had devoted Many hours to the Case. They Haven t ventured out of state be cause Kentucky lawmen Haven t been Able to pin Down anything he said. Mountain Home detective sgt. Lyle Scott said plans to go to Kentucky to question the Man who talked to Baysinger were cancelled because of City budget cuts. But Scott said he still plans to question the Man. Tracy Baysinger was 15 when she vanished March 1,1986, from an auction barn at Mountain Home where she and her parents had gone for a horse auction. Authorities at first believed the girl was a runaway but soon began to suspect foul play. Mountain Home police and the Baxter county sheriff s office checked Many leads and tips but none panned out. Then last november local authorities received word from Kentucky that a Man being held for murder there claimed to have information about the turns Down motion to move trial fort Smith Ark. A -. District judge Morris Arnold has denied five defendants requests to move the Federal trial set to begin Here tuesday. Ardie Mcbrearty Richard Butler Richard Snell Andrew Yamhill and David Mcguire asked for the change of venue. Mcguire Snell and three others Are accused of conspiring to murder a Federal judge and an Fri agent. Mcbrearty Butler Snell Yamhill and six others Are charged with plotting to overthrow the . Government. Butler s attorney said Butler who turns 70 later this month wants to be tried closer to his Idaho Home because he is in poor health. The others asked for the change because of what they called extensive pretrial publicity. Arnold rejected the publicity argument and said the 8th . Circuit court of appeals at st. Louis had adopted a policy of denying such motions unless the judge finds it is impossible to seat an unbiased jury. Arnold said he would reconsider if that happens next week. He said the reason jurors Are questioned is to find people who can set their impressions aside and decide a defendant guilt or innocence based solely Jon what they see and hear in court. The court clerk s office mailed questionnaires two weeks ago to More than 100 potential jurors. Arnold said that a yes to any of several items on the questionnaire a including familiarity with one or More defendants a would eliminate that person from consideration. At wednesday s hearing some of the defendants presented new evidence of pretrial news coverage. Mcbrearty called Josh Moyer news director at Kasm Channel 5, to the stand to discuss a series running this week of the station. Mcbrearty said Northwest Arkan sans have been inundated to the eardrums with pretrial coverage. Sneers attorney. Roger Jeremiah produced Cywia of 112 articles tha have in the fort Smith Southwest times record Between april 1987, when the indictment was returned and Jan. 31. He also presented As evidence copies of several articles from 1964, when Snell was arrested for the murder of a state trooper. 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