Greeneville Mayor Laraine King on Tuesday reactivated the town's Traffic Safety Committee in response to growing concern about accidents on U.S. Highway 11E.

During the "Mayor Comments" portion of the meeting, King said she has received numerous letters and phone calls concerning the issue.

The concerns are related to "the increased number of major automobile accidents on the 11E Bypass, with either severe injuries or fatalities, especially young people," she said.

Mayor King asked Alderman Buddy Hawk, who was elected in June, to serve on the committee.

She noted that longtime Alderman Ginny Kidwell, who did not seek reelection in June, previously served on the committee.

Other committee members are Police Chief Terry Cannon; Brad Peters, city engineer; David Martin, public works director, and Recorder Jim Warner.

Mayor King said she plans to add a citizen representative with experience in traffic safety matters.

The mayor said she also plans to invite representatives from the Greene County Sheriff's Department, the Tusculum Police Department and the Tennessee Highway Patrol to serve on the committee, she said.

The committee's main charge, she said, will be improving the safety of U.S. 11E in Greeneville while not decreasing the volume of traffic to businesses or of those traveling through the area.

Mayor King noted that many senior citizens already refuse to frequent businesses on 11E because they believe the road is too dangerous.

King said the Christmas tree at Fire Station No. 3 starts the season with green light bulbs and changes a bulb to red with each fatality.

"It's very disturbing to me to know the number of families that are suffering at that time," she said.

Mayor King said she wants the committee to start work before the Thanksgiving holiday, the busiest travel time of the year. She urged those attending the meeting to offer their support and ideas to the committee.

Anyone with information for the committee may call Mayor King's office at Town Hall, 639-7105.

In other action during its one-hour meeting, the town board approved a resolution authorizing interest-rate swap agreements for Greeenville's two variable-rate bonds.

The original amount of the town's two variable-rate bonds, which are for school construction, totals $16 million. Their original trade date is Dec. 20, 2001.

The two bonds are insured by Ambac Assurance Corporation, which has seen its credit rating downgraded during recent months and is facing the possibility of bankruptcy.

The board voted to change to Deutsche Bank Securities.

Speaking to the board was Joe Ayres, of Morgan Keegan & Company Inc., the town's financial adviser, who said the change would not result in any additional cost to Greeneville.

The town board previously met in workshops with Morgan & Keegan representatives on Oct. 12-13 and on Oct. 27 with representatives of Echo Financial Products, based in King of Prussia, Pa.

Echo has been hired as an adviser by the public building authorities that conducted the variable-rate loan programs.

According to the financial advisers, Greeneville's government has three options:

* Do nothing and stay in the existing contract with Ambac;

* Terminate the contract and pay a penalty; or

* Enter a contract with Deutsche Bank Securities.

Both Echo and Morgan Keegan recommended the contract with Deutsche Bank.

Alderman W.T. Daniels voted against the resolution, stating that he was "uncomfortable" with the situation. Daniels said he did not understand the process and he is not sure that the other aldermen understand it.

He questioned the statement that the swap would not result in any additional cost to Greeneville.

At the Oct. 27 workshop, Mamantov said the town would have to pay a small amount of legal fees, a few thousand dollars, at most. Other fees would be absorbed in the process, Ayres said.

In the Oct. 12-13 workshops, Daniels expressed concern that Morgan Keegan would have a conflict of interest by acting as an educator, underwriter and adviser for the town.

Ayres clarified at that time that Morgan Keegan has not been acting as the town's underwriter, just as its adviser.

Ayres told the board that several swaps have been completed, and the window is now closed for other swaps because of current market conditions.

Approving the resolution, he said, puts Greeneville in line to complete the swap when the window reopens.

Alderman Sarah Webster asked how many communities Morgan Keegan is working with on such swaps. Ayres said his firm started working with about 25 communities, and about six have completed the process.

The town board approved mutual aid agreements between the Andrew Johnson National Historic Site and the Greeneville Fire Department and Greeneville Police Department.

Jim Small, chief of operations for the National Historic Site, said the agreements will formalize daily operations already in place for fire protection and law enforcement at the National Historic Site.

The agreements were requested by the U.S. Department of Interior, according to City Attorney Ron Woods.

When the town board adjourned, it reconvened as the Greeneville Beer Board and approved one application for off-premise consumption.

The application was for a beer permit for Ingles Markets Inc., doing business as Sav-Mor Foods, at 1625 E. Andrew Johnson Highway.

Applicants were Mark Evert Hensley and Ronald Bruce Freeman.

Police Chief Cannon said checks of both the applicants and the location did not reveal any violations of ordinances.