On this day in 2010, Captain Beefheart (Don Van Vliet) died at a hospital in Arcata, California, about a month before his 70th birthday. Impermanence is swift. The cause of death was listed as complications from multiple sclerosis. Tom Waits called him "Wondrous, secret. . . and profound," and "a diviner of the highest order." I know someone who sometimes calls himself "Captain Stevehart," a play on words from "Captain Beefheart."
In other news, the City of Atlanta reportedly sold about $145 million in bonds that included a poison pill for the proposed Buckhead City effort a day before the City Council met to consider the defensive maneuver.
Atlanta Mayor Keisha Lance Bottoms’ administration approved the presentation of the bonds to investors on Tuesday. After the initial $145 million were sold on Wednesday, the remainder of the $188 million offering was sold on Thursday. The City Council’s meeting on Wednesday was for the express purpose of considering the terms that authorized the poison pill. The Council ultimately approved the poison pill by a vote of 11-1, with Buckhead-area Councilmember Howard Shook casting the lone dissenting vote. Shook introduced a motion to remove the poison pill provision. It failed.
The poison pill establishes financial consequences for any parts of Atlanta that secede from the City. The provision would require a separate Buckhead City to pay Atlanta its share of a debt — up to $198 million — in a lump sum a year after the new city is formed. The actual amount of payment is to be determined if and when a Buckhead City is established. The City Council would have to vote to call the debt under the terms of an “extraordinary optional redemption” provision.
I love that the Atlanta City Council beat all of the Smart Ass White Boy millionaires and financial "geniuses" in Buckhead at their own game.
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