EXECUTIVE ORDER

 

BY THE GOVERNOR:

WHEREAS:

WHEREAS:

WHEREAS:

WHEREAS :

WHEREAS:

EXECUTIVE ORDER
APPROVING THE ISSUANCE OF
PRIVATE ACTIVITY BONDS

The Governor of the State of Georgia has been informed by officials of the
Private Colleges and Universities Authority that the Private Colleges and
Universities Authority on March 9, 2015, approved the application (the
“Application”) of Agnes Scott College, Inc., a nonprofit corporation
organized and existing under the laws of the State of Georgia (the
"College") with respect to a plan of financing through the use of revenue
bonds to be issued by the Private Colleges and Universities Authority in an
amount not to exceed $68,000,000 (the “Bonds”), to be used by the
College for the purposes of (i) refunding certain prior obligations issued by
or for the benefit of the College or incurred by it, which were issued to
finance or refinance, in whole or in part, the costs of the acquisition,
construction and installation of one or more structures or facilities for the
College (the “Refunded Obligations”); and (ii) paying all or a portion of the
costs of issuing the Bonds (collectively, the “Project”); and

The aforementioned Bonds will be issued by the Private Colleges and
Universities Authority, an instrumentality of the State of Georgia, and the
Project will be owned and operated by the College, which is located
entirely within the boundaries of the State of Georgia;

The Governor is the chief elected executive officer of the State of Georgia;
and

This executive order is intended to constitute the approval required by
Section 147(0 of the Internal Revenue Code of 1986, as amended; and

A hearing which was open to the public relating to the proposed issuance
of the aforementioned Bonds, was held on March 30, 2015, for which due
and reasonable public notice was given in accordance with the provisions
of law and the procedures established therefor; and