• NOTICE TO THE PUBLIC YOU AR...

NOTICE TO THE PUBLIC

YOU ARE HEREBY NOTIFIED that on the 21st day of December, 2017, at 9:00 A.M., at the Coweta County Justice Center located at 72 Greenville Street in the City of Newnan, Georgia 30263, the presiding Judge of the Superior Court of Coweta County will hear the case of the STATE OF GEORGIA V. COWETA COUNTY DEVELOPMENT AUTHORITY, TRINITY FELLOWSHIP ASSEMBLY OF GOD, INC., AND TRINITY CHRISTIAN SCHOOL OF SHARPSBURG, INC., Civil Action File No.17V1394, in the Superior Court of Coweta County, the same being a proceeding to confirm and validate the Coweta County Development Authority Revenue Bond (Trinity Christian School Project), Series 2017 (the “Bond”), in the principal amount of $9,650,000. The Bond is to be issued by the Coweta County Development Authority (the “Issuer”) for the purpose of developing and promoting for the public good and general welfare trade, commerce, industry and employment opportunities in Coweta County, Georgia (the "County") and promoting the general welfare of the State of Georgia. In said proceeding the Court will also pass upon the validity of (a) a Loan Agreement, dated as of December 1, 2017, by and among the Issuer, Trinity Assembly of God, Inc. ("Trinity Church"), and Trinity Christian School of Sharpsburg, Inc. ("Trinity School" and, together with Trinity Church, the "Borrowers"), the terms of which obligate said Borrowers to make certain payments to the Issuer, which payments will be in amounts sufficient to pay the principal of and the interest on the Bond as the same become due, (b) a Project Financing Agreement, dated as of December 1, 2017, by and among the Issuer, the Borrowers and CharterBank (the “Bank”), the original purchaser of the Bond, (c) an Assignment, dated as of December 1, 2017, from the Issuer to the Bank, which assigns the Loan Agreement to the Bank to secure the Bond, and (d) a Deed to Secure Debt and Security Agreement, dated as of December 1, 2017, from the Borrowers to the Bank, which constitutes additional security for the Bond. THE ISSUER HAS WAIVED THE PERFORMANCE AUDIT AND PERFORMANCE REVIEW REQUIREMENTS PROVIDED IN O.C.G.A. § 36-82-100 AND WILL CONDUCT NO PERFORMANCE AUDIT OR PERFORMANCE REVIEW WITH RESPECT TO THE BOND. The Bond will be a limited and nonrecourse obligation of the Issuer, will not constitute an indebtedness or obligation of the State of Georgia or of Coweta County and will be payable solely from revenues and property derived from Trinity Church or Trinity School and pledged to the payment thereof. Any citizen of the State of Georgia residing in Coweta County, or any other person wherever residing who has a right to object, may intervene and become a party to this proceeding. This 1st day of December, 2017. Clerk of the Superior Court of Coweta County, Georgia
No.67760-12-7-14
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PostedDecember 07, 2017