First, there is the ongoing federal investigation into Atlanta city hall corruption. Second, there’s also a Federal Aviation Commission probe into alleged diversion of airport revenue to the city. Now comes news that the Securities and Exchange Commission is investigating any improper use of airport funds by the city.
Also requested by the SEC are any documents that will show who provided key financial data to investors in the bond market. The SEC regulates and enforces the country’s securities laws to protect investors. So this third investigation is targeting potential diversion of money from the airport and questioning the accuracy of the city’s financial reports to investors.
Capitol insiders say this latest federal probe is boosting proponents of a state Hartsfield-Jackson airport authority to replace city hall control of the world’s busiest airport.
It was just last spring when the state Senate passed a bill by Sen. Burt Jones, R-Jackson, to create a state authority to oversee Atlanta’s airport. It would remove control over airport operations, especially its corrupt contracting system, from Atlanta’s mayor. But back then the Senate and House Speaker David Ralston couldn’t find common ground.
Last spring Ralston thought it “premature” to go with a state authority and just wanted a state airport oversight committee. Yet proponents note airport bid-rigging, vendor bribery and airport jobs for unqualified mayoral cronies span over 40 years— and that an oversight panel doesn’t correct a continuing mess affecting the entire image of the state.
The bottom line: The bill is in a conference committee and there will be 12 days in January to ascertain if the Senate and House can agree to move the bill forward in whatever form. Or if it will die on the vine.
