Funding for the digitization of this title was provided by the 2016 Spalding County SPLOST via the Flint River Regional Library System.
About Griffin daily news. (Griffin, Ga.) 1924-current | View Entire Issue (Sept. 8, 1977)
Team dip THE GRAND OLD SPORT OF TUBING becomes a team sport at Sun Valley, Idaho, where teenagers find the combination of a few inner tubes and a quiet stream add up to a perfect way to beat the summer heat wave. Business mirror Insurance assures survival of municipal bond ratings By JOHN CUNNIFF NEW YORK (AP) - Though municipal bonds in general still carry some stigma because of New York City’s attempt to re nege on repayment terms, many municipal entities still can obtain a Triple-A rating al most automatically. San Diego County’s South Bay Irrigation District won that rating a couple of weeks ago for $22.5 million of water revenue bonds. A relatively low rate of 5.6778 per cent was obtained, resulting in substantial savings. The simple procedure in volves the purchase of insur ance that guarantees purcha- Doc Cook’s lean & T-Shirt Shop 206 E. Solomon JEANS STARTING AT $749 T-SHIRTS MW AS LONG * ASTHET LAST Y’ALL COME! For Misses Only! This Week’s Special Polyester Pull-On Slacks Fall Colors, Prints and Solids Regular $12.99 Pair sft99 Pair Plus Many Other Great Values Renee’s Fashion Shoppe Experiment Shopping Center Experiment, Ga. sers they will receive principal and interest payments for the life of the issue. More than $2 billion of such bonds have been sold since 1974. Almost all the insurance so far has been issued by two or ganizations, the Municipal Bond Insurance Association, a con sortium of four insurers, and the smaller American Munici pal Bond Assurance Corp. Since the concept is now deemed successful by John But ler, president of the Municipal Issuers Service Corp., which represents the insurers, it is possible more concerns might enter the field, and even con ceivable — though industry sources don’t say so — that corporate issues might be cov ered. The first such bonds insured through Butler’s organization, an issue of revenue bonds by the Carbondale (Ill.) Water and Sewer District, were brought out in 1974, a high interest peri od, at 8.655 per cent. Said Butler: “Without the in surance, they might have cost the issuer % of 1 per cent more in interest costs.” That is, they probably would have carried a Single-A or a 888 rating. The San Diego irrigation dis trict bonds represent the big gest issue protected through the service corporation, and per haps also the biggest saving to the issuer. Butler estimates the district will save more than $500,000. While each issue is evaluated separately by MISC, it claims the savings to the issuers or un- derwriters, whichever pays the fee, amount to or %or a full percentage point. Cost of the insurance is about Vz of 1 per cent on an annualized basis, paid in full at the time the insurance is purchased. It results, says Butler, in savings of $5 to $7 for every dollar put up. The benefits, he claims, are spread all around. The service corporation and the insurers — The Aetna Casu alty and Surety Co., St. Paul Fire and Marine Insurance, Aetna Insurance (sometimes called “Little Aetna”), and U.S. Fire Insurance — find the in surance profitable. The issuer, of course, obtains the lower interest rate, which might seem deceptively small until it is multipled by the mil lions of dollars and the 15-to 30- year time period involved. The investors benefit from the security of knowing there never can be a default, unless the big insurers backing the issue themselves fall upon bad times. Butler claims also that the return to investors is higher than for some related in vestments. Relthford assigned to ship Navy Seaman Recruit Shedrick K. Relthford, son of Mr. and Mrs. G.W. Relthford, Sr. of 718 East Tinsley street, Griffin, has reported for duty aboard the guided missile destroyer USS Preble, homeported in Pearl Harbor, Hawaii. A 1976 graduate of Griffin High school, he joined the Navy in May, 1977. History repeats itself NEW YORK (AP) — Hun dreds of centuries after primi tive man wore tusks, antlers and animal bones as status symbols to prove what great hunters they were, fashion has come full circle, reports the Jewelry Industry Council. Bone jewelry is back — not, of course, in its crude form as discovered by archeologists in drawings on rock walls in ex cavations of the Paleolithic Era. Today, says the council, bone jewelry worn by modern wom en has been refined to bone china. Handsome neckplates, earrings, pendants and brace lets are making fashion news. The new jewelry, often hand painted, has colorful butterfly, leaf or fruit designs. Men, who had not shown much interest for the past sev eral centuries in ornamental jewelry, are now very jewelry conscious, the organization says. Men may not be wearing bone china jewelry, but body jewelry such as pendants, bracelets and chains are now popular. Diamonds, too, are enjoying a resurgence in popularity, seen in handsome daytime rings and on elegant dress watches. Diamonds, the council notes, were around long before the Cave Man, with every one now in existence and still to be min ed created when the earth be gan to cool down from its mol ten state. PURSER’S AFTER LABOR DAY niimu sin LOOK TO PURSER'S FOR NAME BRANDS, FULL SERVICE, FREE DELIVERY, SUPER SAVINGS AND CREDIT WITH A PERSONAL TOUCH! . I Celebrate the advent rw’if-' iui I SlrWh °’ Bprin ® wWha I fabulous dinner party! I ’ri \i T ) 1 Arm Chair or China I /I r 1 wr I teLy l bi" x ’ HERCULON I '(• nW I COMPLETE I i I M FAMILY ROOM GROUP I 1 W. WSmHBI ‘ ll3pieces $ 299 I nIA :r bO ’SBU-Ssfl ■' Wide roll arms with decorative Vinyl strap accents lor ■ 1 .. U 0 L- today's casual llvino mood. Thick padded seat cushions ■ Z KaccpH U / and "EASY CARE" Ufhily I V Comfort and durability. An Un e ■ Entertain with flair 1 Set the mood romantic Mediterranean’ Begin with the magnificent "Camero" dining loom B suite from that famous furmtuiemakei Bassett®. Pieces are crafted of rugged wood products and select haul ■ B woods with components of simulated wood, all aglow with a mellow pecan finish Oval table extends to 72 inches with leaf. Velvety padded chairs have beautiful open latticework backs You'll love the crowned china foi storage and display* I P I I * PORTABLE TV I /ÜBl > kit t I Quasar- USyctl | I &m!7OT" 1 —** I Lightweight. CAPTAIN'S BED I I 3m roon . Twin Bed size, superbly built for SQQQ HOLLYWOOD BED ENSEMBLE to room, with solid state ruggedwear.Bdrawersandshelves ■ Perfect for any room in your home! ■ ’ chassis, in-line matrix pic- cAKMaK for their treasures. Stained maple - I Beautiful Maple colored spindle head- JUST ■ ture tube with pre-focus lens. /U 93 color! Regulerszss ■ board, rails and quality built mattress <129 00 ■ one-button color tuning and W r W and boxsprings See this groat ’. ■ controls and sound out frbnt. Cewenfewt Tsrnwl buy today! EQCn ■ Low energy consumption! 2 For $239 I MbsBBSssjJBiMI I U. OX4 ROOM DIVIDER I morse _ I j |F| ? -ORETAGERE I H 2S;iNSTAMATIC COLOR TV I I Big. bold credenza cabinet in I L I M a-■*< r SQQ ■ nch pecan color. 100% solid- J ll' :’*» Only WW ■ state chassis, works in a SPOORS ■ I * - Rey. S 11« ■ B drawer, matrix-plus picture UJJJJ B r* T U B ✓ ■ tube Instamaoc color tunmg. ■ *.■ T ft E Here’s the answer I inf)f Includes 1-year n-horne service. M V’e e* ■ ■ k fi to miscellaneous I SMKtUUi Sas’a^m 8 " I 60" STEREO CONSOLE ■ — ■ K I divider! Beautifulwarm H --- —■ - 1 I f ffn r tF.-jB oak finish and it’s a ■ Beautiful pecan color finish buift-m 1 I r- i” -** bigßO-xIB-xTß’’... I 8-track tape player. AM/FM/FM C/3 *&*.*"'*-'»* ■ ■4?' ready to assemble! ■ multiplex radio. 3-speed BSR Roe. S33t.es ” ■ changer, and mulb-speaker system. 3 ■■■ I ‘ I SPEED QUEEN | M I I Built better to last longer. I w. ’ 11 1 1 3 7-PC. BRONZETONE DINETTE I g I W iP-f 3 Beautiful big no-mar table that’s B //ZWhMBBBBHIHMHBVHMH| B V> v * B 36"x48"x60" Note the handsome $4>"7Q95 B B \ 7 J tall back two rone chairs. All with * I B / | B V-j. ' J V bronzetone legs See this terrific t 9n _ n _ B // I B li-* v.W/ 1 ’ buy today B /, B JUM 3 g A VALUE YOUR BUDGET '-ClI" - I I I Fl &i' 17 CAN FEEL GOOD ABOUT! jT : J I I I I V Ei'i MATTRESS ■ •»—"i.." I \\ 11 H HH/ / / I FOUNDATION , _>i V■ VWWW 1\ ' // 7/ I P&—.l-.W'! *•—Niuja . L-, I Wl ir I ywiVWViu lii 'i/ I It/®I’4 1 ’ 4 zk 4 FULLSIZE z *. «* V>'' B VAWWuU I WWlli ' ! B tar. These bjaut.ful spot chAirs are the most popular Myles \ r* 688.99U.Pc. ’7 B vWWWWI I I 1/1 /y Ilf B we sell Reversible toam cushions in case somebody <t \ /«• 4* B spillt loathing and for longer wear All are ) u. B MODEL FA3530 B covered in luxurious chen.lie velvet. At th.s price ynu TWK-.j» / Hundreds of specially tempered B R uuafxar B HR can buy a pair And on our store's budget payment / 4 steel co.ls and layers of puffy B lr»r»n laetinn □ Wdie M p|an KpeC j tUv t ai | Ofe d to you Beautiful Styling ' 1«T- / Cushioning combine to give yew B • long lasting temperature B | Comfortable seating They'll fit any decor What more ■> / 4 comfortable healthful bleeping. I porcelain tub... selections B ' can you ask’ Hurry on down and make your selection' It / B family capacity B wkm.™ 11/ 1 Z_ B • multi-cycle timer B 3 ..... Hiiinin I RECLINER SS 299 99 i n 'llgjßn I x ntJU-VrliLi w i I PURSER Got a houseful of rough cowboys? Round 'em l •IVu hit u rQ co. . up and bunk 'em up in these sturdy, space- B — ■ . er .. saving bunk beds. Hang-on guard rails and lad- B Hotfl . ders included. Bedding available. These bunk B 124 Hill St. Ph. 227“3525 Griffin, Georgia * beds are as practical as they are good looking, J p* for they convert to smart twin beds - - with g never — Griffin Daily News Thursday, September 8,1977 Page 19
