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58. RESOLUTION FOR DECLARATION OF OFFICAL INTENT TO REIMBURSE FOR PURPOSES OF SECTIONS 103 AND 141-150 OF THE INTERNAL REVENUE CODE OF 1986 Authorize the Chairman to approve and execute the Resolution, which constitutes a Declaration of Official Intent to Reimburse required for the issuance of tax exempt securities to reimburse prior expenditures, related to the construction, acquisition and equipping of County capital projects scheduled for Fiscal Years 2019-20 and 2020-21. The County is anticipating issuing tax-exempt obligations to finance capital projects in the Capital Projects Fund (Fund 442). The maximum original amount of obligations expected to be issued is $140,000,000. Exhibit A shows the proposed capital project expenditures by anticipated fiscal year. The County reasonably expects to reimburse the expenditures with proceeds of a tax exempt borrowing. The Department of Finance and Budget Office have determined a need for the County to issue tax exempt securities to finance the construction, acquisition and equipping of County capital projects scheduled for Fiscal Years 2019-20 and 2020-21. Proceeds of the borrowing will be deposited into a Capital Projects Fund (Fund 442) to track expenditures and for arbitrage compliance. Projects financed with proceeds of the borrowing will be individually tracked. The benefit to the County for issuing long-term debt obligations is debt payments are exempt from the ELR. (C-18-20-003-4-00)

Attachments (2)

Vote — approved

Steve Gallardo	abstain
Jack Sellers	abstain
Bill Gates	abstain
Clint Hickman	yes
Gallardo Sheriff	yes
Steve Chucri	yes

28.0 Services Delivery to add items:a. 28.12 Meal Accommodations; andb. 28.13 Meal Delivery.This Agreement is subject to A.R.S. §38-511. The foregoing paragraphs contain all the changes made by this Amendment. All other terms and conditions of the original Agreement thereto remain the same and in full force and effect as approved and amended.The current term of the Agreement is through September 30, 2020. Supervisory District: 1, 2, 3 (C-22-20-009-3-01) Motion to approve by Supervisor Hickman, s

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28. RESOLUTION FOR LEASE AND LEASE-PURCHASE, EXECUTION AND DELIVERY OF AMENDMENTS AND SUPPLEMENTS TO LEASE-PURCHASE AND TRUST AGREEMENTS, AND FOR THE ISSUANCE OF CERTIFICATES OF PARTICIPATION Adopt a Resolution authorizing the Lease and Lease-Purchase of certain real property and the delivery and execution of amendments and supplements to lease-purchase and trust agreements for the issuance of tax exempt securities, consisting of certificates of participation (COPs), in an amount sufficient to finance not to exceed $140,000,000, plus cost of issuance, to finance, or to reimburse the County for, costs related to the construction, acquisition and equipping of County capital projects scheduled for fiscal years 2019-20 and 2020-21. The COPs would finance capital projects for General Fund and Special Revenue Fund departments. Exhibit A shows the proposed capital project expenditures by anticipated fiscal year. The proceeds for this financing will be deposited into the County Improvement COPS Series 2020 Fund (442). The anticipated cost of issuance is included in the FY 2020 budget for the County Improvement COPS Series 2020 Fund (442). In accordance with A.R.S. §42-17106(B), authorize the following amendments to the Non-Departmental (D470) budget: a) Cancel the FY 2020 budgeted fund transfer of $48,393,500 from the General Fund County Improvement Fund (445) to the County Improvement COPS Series 2020 Fund (442). b) Approve a fund transfer in FY 2020 of $48,393,500 from the General Fund County Improvement Fund (445) to the County Improvement Debt Fund (320). c) Increase the revenue appropriation in the Non Departmental (D470) County Improvement Debt Fund (320) Non Recurring Non Project (NRNP) budget by $48,393,500. d) Decrease the revenue appropriation in the Non Departmental (D470) County Improvement COPS Series 2020 Fund (442) in the Non Recurring Non Project (NRNP) by $48,393,500. e) Increase the expenditure appropriation in Non-Departmental (D470) County Improvement Debt Fund (320) Non Recurring Non Project (NRNP) budget by $48,393,500. f) Decrease the expenditure appropriation authority in the Non Departmental (D470) Non Departmental Grant Fund (249) Non Recurring Non Project (NRNP) budget by $48,393,500. These actions will have an overall net impact of zero. On July 31, 2019, the Board of Supervisors approved the Authorization Resolution and Declaration of Intent to Reimburse required for the issuance of tax exempt securities (C-18-20-003-4-00) to reimburse prior expenditures related to the construction, acquisition and equipping of County capital projects scheduled for fiscal years 2019-20 and 2020-21. The maximum principal amount of the obligation expected to be issued is $140,000,000, plus cost of issuance. Adopt a Resolution approving the proceedings for the issuance of Certificates of Participation, Series 2020. Actual issuance amount will be sized accordingly with the assistance of the County’s Financial Advisor. Proceeds will be deposited in the County Improvement COPs Series 2020 Fund (442) which will be used to track expenditures and for arbitrage purposes. Equipment and capital purchases from bond proceeds will be individually tracked to ensure that purchases are capitalized, if applicable, and to track project expenditures. Financing is anticipated to occur prior to the fiscal year-end for Expenditure Limitation (ELR) purposes. The associated debt service payments applicable to the issuance are exempt for ELR purposes. The financial impact will be proceeds from bond issuance, associated expenditures which are currently budgeted in the County Improvement COPs Series 2020 Fund (442), and future debt service payments to be budgeted in the Debt Service Fund. The amounts presented below are based on estimated issuance size and interest rates and final amounts will be determined at issuance but will not exceed amounts presented below. (C-18-20-008-4-00)

Attachments (3)