HomeMy WebLinkAboutApproval of Educational Facilities Revenue Bonds
Augusta Richmond GA
DOCUMENT NAME: t\ f' f i?.o \J 11 L 0 ~ G '> u c.. A .,-/o,J A L j:"' I'\C; 1..-; -r ; '" s ~ '" V /,;'400 ~
16baV 0 $
DOCUMENT TYPE:
YEAR: ~ DC> '--\
BOX NUMBER: [}. Y
FILE NUMBER: 11Sd'
NUMBER OF PAGES: ~
TO: LENA J. BONNER
FROM: MR. SHEPARD
APPROV AL BY THE MAYOR OF
AUGUST A, GEORGIA OF
DEVELOPMENT AUTHORITY OF RICHMOND COUNTY
EDUCATIONAL FACILITIES REVENUE BONDS
(ASU JAGUAR STUDENT CENTER, LLC PROJECT, LOCATED ON THE CAMPUS
OF AUGUSTA STATE UNIVERSITY), SERIES 2004
FOR YOUR INFORMATION
JANUARY 3, 2005
WHEREAS, under Section l47(f) of the Internal Revenue Code of 1986, as amended,
and under Treasury Regulation Section 5f.l03-2(e), the consolidated government of Augusta,
Georgia (the "Consolidated Government") must approve the revenue bonds to be designated
"Development Authority of Richmond County Educational Facilities Revenue Bonds (ASU
Jaguar Student Center, LLC Project, located on the Campus of Augusta State University), Series
2004" (the "Bonds") because it is the governmental unit on behalf of which the Bonds are to be
issued by the Development Authority of Richmond County (the "Issuer") and because it is the
governmental unit having jurisdiction over the area in which the facilities are to be located with
respect to which financing is to be provided from the proceeds of the Bonds; and
WHEREAS, under Treasury Regulation Section 5f.l 03-2( d), the Consolidated
Government will approve the Bonds only if its applicable elected representative approves the
Bonds following a public hearing held in a location which, under the facts and circumstances, is
convenient for residents of the Consolidated Government and for which there was reasonable
public notice; and
WHEREAS, the Mayor of the Consolidated Government is the applicable elected
representative of the Consolidated Government, within the meaning of Treasury Regulation
Section 5f.l03-2(e), because he is the Consolidated Government's chief elected executive officer
popularly elected at-large by the voters of the Consolidated Government; and
WHEREAS, on December 23, 2004, at 11 :00 a.m., in the Meeting Room of the Metro
Augusta Chamber of Commerce Building at 600 Broad Street Plaza in Augusta, Georgia, the
Issuer, through its designated public hearing officer, conducted a public hearing on the Bonds
and the location and nature of the facilities to be financed with the proceeds of the Bonds, notice
of which was published in The Augusta Chronicle on December 9,2004;
NOW, THEREFORE, THE MAYOR OF AUGUSTA, GEORGIA ACTS AS
FOLLOWS:
1. The Mayor of the Consolidated Government hereby approves the Bonds:
(a) the proceeds of which will finance the costs of acquiring, constructing, and
equipping a new approximately 49,000 square foot student activity center to
be known as "Augusta State University Student Activity Center" and to be
located on the south side of the campus of Augusta State University at 2500
Walton Way, adjacent to the Reese Library, in Augusta, Georgia,
(b) the maximum aggregate face amount of which will be $14,000,000, and
#1858674\'1
,-
l'
..
(c) the initial owner of which will be ASU Jaguar Student Center, LLC, a
Georgia limited liability company whose sole member is Augusta State
University Foundation, Inc., a Georgia nonprofit corporation, and the initial
tenant of which will be the Board of Regents of the University System of
Georgia.
2. This approval is solely for the purpose of complying with, and is to be construed in
accordance with, the provisions of Section 147(f) of the Internal Revenue Code of 1986, as
amended, and shall not result in or impose any pecuniary liability upon or constitute a lien upon
the property of or a claim against the Consolidated Govenunent, the State of Georgia, or any
political subdivision thereof. ~ ~
APPROVED this i.2: day of fftl;t;l~Q; 20k
[{1 MAYO~~~~GIA
-2-