Loading...
You are here:  Home  >  News  >  Politics  >  Current Article

Taxpayers association may sue ADICA board members for neglecting their fidiciary responsibility

By   /   August 19, 2009  /   Comments

Here’s a statement from Richard Thomas, co-chairman of the Dougherty County Taxpayers Association. If anyone wants a copy of the resolutions in question, e-mail me at ajournal@thealbanyjournal.com — Kevin Hogencamp

Richard Thomas statement:

I am attaching a copy of the Legislative resolutions that hold the ADICA Board members (as fiduciary trustees) jointly and severally liable for their past actions of malfeasance and mismanagement. I will be making a brief statement to the Board this afternoon (if allowed) on behalf of the DCTPA requesting each of their resignations if they expect to avoid potential personal and joint litigation relating to their culpability to the taxpayers of this community.

I will recommend that they consult with the ADICA attorney (Jay Reynolds) as to what extent he views them as being liable (as is noted in the statutory language of the Act that created them in 1977) . They of course can re-apply for an appointed board seat to the City Commission, however the City Commission should be aware of their culpability in any such reappointment. Having some experience in the fiduciary liability of trustees in an estate planning capacity, it is my opinion their capacity as “trustees” binds them to a standard that is far removed from their
past and present performance, and the “prudent man rule” which governs the behavior of all trustees.


Commissioner Langstaff has alluded to the fact that since they are a state created entity, only the state can take action. If that is true, then I know of no other way to compel them to step down other than exposing to them their fiduciary liability as “trustees” of the public’s funds.

    Print       Email
  • Published: 1801 days ago on August 19, 2009
  • By:
  • Last Modified: August 26, 2009 @ 7:37 pm
  • Filed Under: Politics
  • Tagged With: ADICA, taxpayers
 

Comments

  1. rb says:

    dick thomas is boring – when is the journal going to do a story on the hidden agenda of the taxpayers assn? i mean trying to get commissioners who settle their lawsuits and approve building apartment buildings in the flood plain?

You might also like...

GEORGIA LEGISLATIVE BLACK CAUCUS, INC. HOLDS ITS SECOND PUBLIC POLICY LUNCHEON WITH STATEWIDE ELECTED OFFICIAL

Read More →
SEO Powered by Platinum SEO from Techblissonline