Covington HA/Hearing Notice
NOTICE TO THE PUBLIC YOU ARE HEREBY NOTIFIED that on the 27th day of October, 2025, at 9:00 A.M., at the Newton County Judicial Center in Covington, Georgia, Judge G. Kevin Morris of the Superior Court of Newton County will hear the case of the State of Georgia v. Housing Authority of the City of Covington and The Reserve at Jackson Highway, LP, Civil Action File No. SUCV2025003118, in the Superior Court of Newton County, the same being a proceeding to confirm and validate an issue of Housing Authority of the City of Covington Multifamily Housing Revenue Note (The Reserve at Jackson Highway Apartments Project), Series 2025 ("Governmental Lender Note") in a maximum principal amount of $2,500,000. The Governmental Lender Note is to be issued by the Housing Authority of the City of Covington ("Governmental Lender") for the purpose of financing a portion of the completion of the acquisition, construction, and equipping of a 102-unit/building multifamily housing development located at 9155 SW Jackson Highway, Covington, Georgia, known as "The Reserve at Jackson Highway" ("Project"), in furtherance of the purposes of the Housing Authorities Law of the State of Georgia (O.C.G.A. SS 8-3-1, et seq.), as amended ("Act"), and to promote the general welfare of the State of Georgia. In order to finance the Project, the Governmental Lender will loan the proceeds of the Governmental Lender Note to The Reserve at Jackson Highway, LP, a Georgia limited partnership, pursuant to a Borrower Loan Agreement, to be dated as of the first of the month in which the Borrower Note is issued. In said proceeding the Court will also pass upon the validity of said Borrower Loan Agreement, a Multifamily Note, Funding Loan Agreement, Multifamily Deed to Secure Debt, Assignment of Rents, Security Agreement and Fixture Filing, and an Assignment of Deed to Secure Debt and Loan Documents in connection therewith. The Governmental Lender Note will not constitute a debt or a general obligation within the meaning of any constitutional or statutory debt limitation or restriction or a pledge of the faith and credit of the State of Georgia or any political subdivision thereof, including the City of Covington, Georgia, but will constitute limited obligations of the Governmental Lender and will be payable solely from amounts owing from the Borrower pursuant to the Borrower Loan Agreement and specific revenues and property assigned and pledged to the payment thereof. Neither the State of Georgia, nor any political subdivision thereof, including the City of Covington, Georgia, shall be subject to any pecuniary liability thereon, nor shall the Governmental Lender Note constitute a charge, lien, or encumbrance upon any property of the Governmental Lender, said State, said political subdivisions, or said City, other than amounts owing from the Borrower pursuant to the Borrower Loan Agreement assigned and pledged to the payment thereof. No owner of the Governmental Lender Note shall ever have the right to compel the exercise of the taxing power of said State, said political subdivisions, or said City to pay the same or the interest thereon. No officer, director, member, agent, or employee of the Governmental Lender shall be personally liable on the Governmental Lender Note or be subject to personal liability or accountability by reason of the issuance thereof. THE GOVERNMENTAL LENDER WILL NOT CONDUCT ANY "PERFORMANCE AUDIT" OR "PERFORMANCE REVIEW" WITH RESPECT TO THE GOVERNMENTAL LENDER NOTE AS SUCH TERMS ARE DESCRIBED IN O.C.G.A. SS 36-82-100. Any citizen of the State of Georgia residing in the City of Covington, Georgia, or any other person wherever residing who has a right to object, may intervene and become a party to this proceeding. This 7th day of October, 2025. STEPHANIE FINNIE Clerk, Superior Court of Newton County PUBLIC NOTICE #703046 10/12,19