RESOLUTION OF THE BOARD OF COMMISSIONERS OF ROCKDALE COUNTY, GEORGIA APPROVING THE ISSUANCE OF REVENUE BONDS BY THE DEVELOPMENT AUTHORITY OF ROCKDALE COUNTY WHEREAS, on at least seven days' notice published in The Rockdale Citizen, a public hearing was held at the offices of the Conyers-Rockdale Chamber of Commerce at 936 Green Street, Conyers, Georgia 30012 on March 31, 2025 at 9:00 a.m., concerning a proposed issuance by the Development Authority of Rockdale County (the "Authority") ofits revenue bonds (the "Bonds"), in a maximum principal amount not to exceed $90,000,000; and WHEREAS, the proceeds ofthe sale of the proposed Bonds, when and ifissued, are to be used, along with other funds, for the benefit of AHPC Terraces at Fieldstone LLC, a Delaware limited liability company (the "Borrower"). to (i) refinance the acquisition, construction, furnishing and equipping a multifamily housing community known as Terraces at Fieldstone (the "Project"), (ii) fund improvements to the Project, (iii) fund reserves, and (iv) pay all or a portion ofthe costs ofissuing the Bonds; and WHEREAS, the Project is located at 50 Loch Haven Drive SE in Conyers, Georgia, and will be owned by the Borrower and operated by the Borrower and its affiliates; and WHEREAS, the proposed Bonds, when and if issued, will not be an obligation of Rockdale County (the "County"), or of the State of Georgia or of any county, municipality, or political subdivision of the State of Georgia; the proposed Bonds will not be paid from taxes, but will be payable by the Authority solely from amounts to be paid or provided by the Borrower; and no performance audit or performance review shall be conducted with respect to such bond issue; and WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), provides, in effect, that in order for the interest on the proposed Bonds to be excluded from the holders' gross incomes for federal income tax purposes, the "public approval" requirements of said section must be complied with; and WHEREAS, the location of the Project is entirely within the County, and the Board of Commissioners ofthe County (the "Board") constitutes the elected legislative body ofthe County and is a proper body for granting the necessary public approval; and WHEREAS, the Authority has requested that the Board approve the issuance ofthe Bonds for the purposes stated above, the nature and location of the Project, and the plan of financing for the Project with the Bonds; and WHEREAS, the Board finds and determines that it is in the public interest of the County to grant such approval. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of Rockdale County as follows: Section 1. The issuance of the Bonds by the Authority for the benefit of the Borrower in a maximum principal amount not to exceed $90,000,000 for the above-described purposes, the nature and location of the Project, and financing for the Project, described above, are hereby approved for purposes of Section 147(f) oft the Code. Ru-2a1 Section 2. Such approval by the Board does not constitute any representation by the County to the prospective purchasers ofthe Bonds as to the creditworthiness of the Borrower, or the economic feasibility of the Project nor does it create, either expressly or by implication, any obligation on the part of the County for the payment of the Bonds or debt service thereon, such Bonds and debt service thereon being payable solely from the sources described above. Section 3. This Resolution shall take effect immediately upon its adoption. ADOPTED this 22nd day of April 2025. By: Chairman of the Board Commissioners ofRockdale County, Georgia ATTEST: Clerk of the Board Commissioners of] Rockdale County, Georgia [SEAL] 2 61680687v.2 CLERK'S CERTIFICATE I, the undersigned Clerk oft the Board ofCommissioners ofRockdale County, Georgia (the "County"), DO HEREBY CERTIFY that the foregoing pages of typewritten matter pertaining to the approval of the issuance ofthe Development Authority of Rockdale County of its reyenue bonds constitute a true and correct copy oft the resolution adopted on April 22, 2025, by the Board of Commissioners of the County at a meeting duly called and assembled, which was open to the public and at which a quorum was present and acting throughout, and that the original of such resolution appears of record in the Minute Book of the County which is in my custody and control. GIVEN under my hand and the official seal of Rockdale County, Georgia, this 22nd day of April 2025. Clerk oft the Board of Commissioners ofRockdale County, Georgia [SEAL] 92823355.vl