A RESOLUTION
NO. ___________


A RESOLUTION CONCERNING THE ISSUANCE OF REVENUE BONDS BY THE HOUSING AUTHORITY OF COLUMBUS, GEORGIA TO FINANCE A PROJECT FOR THE BENEFIT OF EAGLES TRACE GA LLC

WHEREAS, JPC Charities, an Ohio nonprofit corporation (the “Corporation”), through Eagles Trace GA LLC, a Georgia limited liability company of which the Corporation is the sole member (the “Borrower”), wishes to finance the acquisition, renovation, and equipping of a 383-unit multifamily apartment complex known as the Eagles Trace Apartments (the “Project”) located within the territory of Columbus, Georgia, a consolidated government (“Columbus”) which the jurisdiction of the area of operation of the Housing Authority of Columbus, Georgia (the “Authority”); and

WHEREAS, on May 6, 2015 the Authority, pursuant to the authority granted it under the provisions of the Housing Authorities Law (O.C.G.A.8-3-1,et seq.), adopted a preliminary resolution authorizing the issuance of its revenue bonds in an aggregate principal amount not to exceed $10,000,000 to be designated “Housing Authority of Columbus, Georgia Multifamily Housing Revenue Bonds (Eagles Trace Apartments Project) Series 2015” (the “Series 2015 Bonds”) and lending the proceeds of the Series 2015 Bonds to the Borrower for the purpose of providing funds to: (i) acquire, renovate and equip the Project, (ii) fund reserves, including a debt service reserve for the Series 2015 Bonds and (iii) pay the costs of issuance of the Series 2015 Bonds; and

WHEREAS, the Authority held a public hearing with respect to the proposed issuance of the Series 2015 Bonds and the Project being financed with the proceeds of the Series 2015 Bonds on June 3, 2015, after publication of a notice 14 days or more prior to the date of the hearing in the Columbus Ledger-Enquirer, a newspaper of general circulation in Columbus, Georgia. A copy of the Certificate of the Chairman of the Authority regarding the public hearing which has been delivered to this Council and the Mayor is attached hereto as Exhibit A; and

WHEREAS, the Authority has requested that (i) Council approve the issuance of the Series 2015 Bonds and the Project for the limited purpose of meeting the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) in order to qualify the interest on the Bonds for exclusion from the gross income of the owners thereof for federal income tax purposes pursuant to the applicable provisions of the Code, and (ii) authorize the Mayor to execute a certificate substantially in the form attached as Exhibit B certifying such approval (“the Certificate”);

NOW, THEREFORE, BE IT RESOLVED and it is hereby resolved by the Council of Columbus, Georgia, as follows:

__________________

Introduced at a regular meeting of the Council of Columbus, Georgia, held on the 23RD day of June, 2015 and adopted at said meeting by the affirmative vote of ______ members of said Council.

Councilor Allen voting _____.
Councilor Baker voting _____.
Councilor Barnes voting _____.
Councilor Buck voting ______
Councilor Davis voting _____.
Councilor Henderson voting _____.
Councilor Huff voting _____.
Councilor Thomas voting _____.
Councilor Pugh voting _____.
Councilor Woodson voting _____.

_______________________________ ___________________________________
TINY B. WASHINGTON, CLERK TERESA PIKE TOMLINSON, MAYOR

Eagles Trace Certificate Housing Auth EXHIBIT A 6-18-15.pdf Eagles Trace  Certificate of Approval      EXHIBIT B              6-18-15.docEagles Trace Certificate of Approval EXHIBIT B 6-18-15.doc