PRELIMINARY OFFICIAL STATEMENT DATED APRIL 12, 2017 NEW ISSUE – BOOK ENTRY ONLY RATINGS Moody’s: A1 S&P: A+ See “RATINGS” herein In the opinion of Bond Counsel, under current law and subject to conditions described herein under the caption “TAX MATTERS,” interest on the Series 2017B Bonds (including any original issue discount allocable to a holder thereof) (a) will not be included in gross income for federal income tax purposes, (b) will not be an item of tax preference for purposes of the federal alternative minimum income tax imposed on individuals and corporations, however, with respect to corporations (as defined for federal income tax purposes), such interest is taken into account in determining adjusted current earnings for purposes of computing the alternative minimum tax imposed on such corporations and (c) will be exempt from present income taxation by the State of Georgia. A holder may be subject to other federal tax consequences as described herein under the caption “TAX MATTERS.” See the proposed form of the opinion of Bond Counsel in Appendix E hereto. $30,020,000* DEVELOPMENT AUTHORITY OF GWINNETT COUNTY Refunding Revenue Bonds (Georgia Gwinnett College Student Center Project) Series 2017B Dated: Date of Issuance Due: July 1, as shown on inside front cover The proceeds of the Development Authority of Gwinnett County Refunding Revenue Bonds (Georgia Gwinnett College Student Center Project) Series 2017B (the “Series 2017B Bonds”) will be loaned by the Development Authority of Gwinnett County (the “Issuer”) to GGC Student Center, LLC (the “Company”), a Georgia limited liability company whose sole member is Georgia Gwinnett College Foundation, Inc., a Georgia nonprofit corporation (the “Foundation”), pursuant to a Loan Agreement and Assignment of Gross Revenues and Certain Agreements and Accounts dated as of May 1, 2017 (the “Loan Agreement”) and will be used by the Company for the purposes of (i) refunding all of the Revenue Bonds (GGC Student Center, LLC Project), Series 2009 issued by the Joint Development Authority of DeKalb County, Newton County and Gwinnett County (the “Series 2009 Bonds”) and (ii) paying all or a portion of the costs of issuing the Series 2017B Bonds. See “THE PROJECT AND PLAN OF REFUNDING” herein. Under the terms of the Loan Agreement, the Company will pay the Issuer amounts sufficient to enable the Issuer to pay the principal of and interest on the Series 2017B Bonds. The obligations of the Company under the Loan Agreement will be secured by a Leasehold Deed to Secure Debt, Security Agreement and Assignment of Rents and Leases dated as of May 1, 2017 (the “Security Deed”) from the Company in favor of the Issuer and assigned to U.S. Bank National Association, as trustee (the “Trustee”) pursuant to a Transfer and Assignment. The Series 2017B Bonds will be issued pursuant to a Trust Indenture dated as of May 1, 2017 (the “Indenture”) between the Issuer and the Trustee. The Series 2017B Bonds and any Additional Bonds as defined herein are payable solely from the Trust Estate. The Trust Estate, from which the Series 2017B Bonds and any Additional Bonds are payable, includes all rights, title and interest of the Issuer in and to (a) the Loan Agreement (except for the Issuer’s rights to payment of fees and expenses and to indemnification pursuant to the terms thereof); (b) the Security Deed; (c) the Gross Revenues (as defined in the Indenture); (d) moneys and securities held in any and all funds created under the Indenture; and (e) any and all other property from time to time by delivery or by writing conveyed, mortgaged, pledged, assigned or transferred as and for additional security under the Indenture by the Issuer or by anyone on its behalf or with its written consent to the Trustee, which is authorized to receive any and all such property at any and all times and to hold and apply the same subject to the terms of the Indenture. See “SECURITY AND SOURCE OF PAYMENT FOR THE SERIES 2017B BONDS” herein. The Series 2017B Bonds are limited obligations of the Issuer, payable only from the Trust Estate described herein. THE SERIES 2017B BONDS, TOGETHER WITH ALL PRINCIPAL AND INTEREST THEREON WITH RESPECT THERETO ARE SPECIAL, LIMITED OBLIGATIONS OF THE ISSUER SECURED BY THE INDENTURE, AND WILL BE PAYABLE SOLELY FROM THE TRUST ESTATE (AS DEFINED IN THE INDENTURE). THE SERIES 2017B BONDS WILL NEVER CONSTITUTE AN INDEBTEDNESS OF THE STATE OF GEORGIA, THE ISSUER OR ANY OTHER POLITICAL SUBDIVISION, AGENCY, OR INSTRUMENTALITY OF THE STATE OF GEORGIA WITHIN THE MEANING OF ANY CONSTITUTIONAL PROVISION OR STATUTORY LIMITATION, NOR ARE THEY A CHARGE AGAINST THE PROPERTY, A PLEDGE OF THE FAITH AND CREDIT, GENERAL CREDIT OR TAXING POWER, IF ANY, OF THE STATE OF GEORGIA, THE ISSUER OR ANY OTHER POLITICAL SUBDIVISION, AGENCY, OR INSTRUMENTALITY OF THE STATE OF GEORGIA, NOR WILL ANY OF THE FOREGOING BE SUBJECT TO ANY PECUNIARY LIABILITY THEREON. UNDER THE TERMS OF THE INDENTURE, THE ISSUER MAY ISSUE ADDITIONAL BONDS WHICH MAY BE SECURED ON A PARITY WITH THE SERIES 2017B BONDS. The Series 2017B Bonds will only be issued in book-entry form registered in the name of Cede & Co., the nominee of The Depository Trust Company, New York, New York (“DTC”). Payment of the principal of and interest on the Series 2017B Bonds will be made by the Trustee directly to Cede & Co., as nominee for DTC, as registered owner of the Series 2017B Bonds, and will be subsequently disbursed by Cede & Co. to DTC Participants and thereafter to Beneficial Owners of the Series 2017B Bonds, all as further described herein. See “DESCRIPTION OF THE SERIES 2017B BONDS – Book-Entry System of Registration” herein. Interest on the Series 2017B Bonds will be payable semiannually on each January 1 and July 1, commencing July 1, 2017. See “DESCRIPTION OF THE SERIES 2017B BONDS” herein. The Series 2017B Bonds are subject to optional, extraordinary and mandatory redemption prior to maturity as described herein. See “DESCRIPTION OF THE SERIES 2017B BONDS – Redemption Provisions” herein. Neither Georgia Gwinnett College nor the Board of Regents of the University System of Georgia will have any obligation with respect to the Series 2017B Bonds or the refinancing of the Project described herein and will not have any legal or moral obligation to rent the Project in a manner supportive of the creditworthiness of the Series 2017B Bonds. THIS COVER PAGE CONTAINS INFORMATION FOR QUICK REFERENCE ONLY. IT IS NOT INTENDED TO BE A SUMMARY OF THE SECURITY FOR OR TERMS OF THE SERIES 2017B BONDS. INVESTORS MUST READ THE ENTIRE OFFICIAL STATEMENT TO OBTAIN INFORMATION ESSENTIAL TO MAKING AN INFORMED INVESTMENT DECISION. The Series 2017B Bonds are offered when, as and if issued and accepted by the Underwriters, subject to prior sale, withdrawal or modification of the offer without notice, and to approval of the legality of the Series 2017B Bonds and certain other matters by Murray Barnes Finister LLP, Atlanta, Georgia, Bond Counsel. Certain legal matters will be passed upon for the Issuer by Chandler, Britt & Jay, LLC, Buford, Georgia; for the Company and the Foundation by Andersen, Tate & Carr, P.C., Duluth, Georgia; and for the Underwriters by Kutak Rock LLP, Atlanta, Georgia. PFM Financial Advisors LLC, Charlotte, North Carolina, serves as financial advisor to the Company. The Series 2017B Bonds are expected to be available for delivery to the Trustee on behalf of DTC under the DTC FAST system of registration on or about May __, 2017. Citigroup Raymond James April __, 2017 This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Official Statement is delivered in final in prior be accepted buy delivered is Statement Official time the the to to offers may nor sold be not securities These may This Preliminary amendment. or completion subject to are herein contained information the and Statement Official would solicitation or sale sale of these securities jurisdictionbuy nor shall there be any in any in which such offer, to Under no circumstances shall this Preliminary to sell or a solicitation of an offer Official Statement constitute an offer form. such jurisdiction. prior of any or qualification under the securities to registration be unlawful laws * Preliminary; subject to change. MATURITIES, PRINCIPAL AMOUNTS, INTEREST RATES AND YIELDS Maturity Principal Interest CUSIP (July 1) Amount1 Rate Number2 Yield 2017 $ 130,000 2018 730,000 2019 765,000 2020 805,000 2021 845,000 2022 885,000 2023 930,000 2024 975,000 2025 1,025,000 2026 1,075,000 2027 1,130,000 2028 1,190,000 2029 1,245,000 2030 1,310,000 2031 1,375,000 2032 1,445,000 2033 1,495,000 2034 1,570,000 2035 1,650,000 2036 1,730,000 2037 1,815,000 $5,900,0001 ____% Term Bond due July 1, 2040, Priced to Yield: ____%, CUSIP: ________ _____________ 1 Preliminary, subject to change. 2 CUSIP numbers have been assigned by an independent company not affiliated with the Issuer and are included solely for the convenience of the holders of the Series 2017B Bonds. Neither the Issuer nor the Underwriters are responsible for the selection or uses of the CUSIP numbers and no representation is made as to their correctness on the Series 2017B Bonds or as indicated above. CUSIP numbers are subject to being changed after the issuance of the Series 2017B Bonds as a result of various subsequent actions including, but not limited to, a refunding in whole or in part of such Series 2017B Bonds or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of the Series 2017B Bonds.