Vote — approved

Bill Gates	yes
Clint Hickman	yes
Jack Sellers	yes
Thomas Galvin	yes
Steve Gallardo	abstain

44.RESOLUTION FOR DECLARATION OF OFFICIAL 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 2021-22, 2022-23, 2023-24, and 2024-25. T

Item Text

44. RESOLUTION FOR DECLARATION OF OFFICIAL 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 C ounty capital projects scheduled for Fiscal Years 2021-22, 2022-23, 2023-24, and 2024-25. The County is anticipating issuing tax-exempt obligations to finance capital projects in the Capital Projects Fund (Fund 444). The maximum original amount of obligati ons expected to be issued is $277,127,083. 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. (C-18-22-196-X-00)

Attachments (1)

Vote — approved

Clint Hickman	yes
Jack Sellers	yes
Thomas Galvin	yes
Bill Gates	yes
Steve Gallardo	yes

Ayes: Clint Hickman, Jack Sellers, Thomas Galvin, Bill Gates, Steve Gallardo

Item Text

39. RESOLUTION FOR DECLARATION OF OFFICIAL 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 2023-24, 2024-25, 2025-26 and 2026-27. The maximum original amount of obligations expected to be issued related to these projects is $418,257,083. This is in addition to the Declaration of Official Intent to Reimburse $277,127,083 of project expenditures approved by the Board of Supervisors on June 22, 2022 (C-18-22-196-X-00). The County is anticipating issuing tax-exempt obligations to finance capital projects in the Capital Projects Fund (Fund 444). The maximum original amount of obligations expected to be issued is $418,257,083. 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. (C-18-23-126-X-00)

Attachments (2)

Vote — approved

Jack Sellers	yes
Thomas Galvin	yes
Bill Gates	yes
Clint Hickman	yes
Steve Gallardo	yes

Ayes: Jack Sellers, Thomas Galvin, Bill Gates, Clint Hickman, Steve Gallardo

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29. 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 $195,000,000, 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 2021-22, 2022-23, 2023-24, and 2024-25. 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. In accordance with A.R.S. §42-17106(B), authorize the following amendments to the fiscal year 2024 Non-Departmental (D470) budget: a) Decrease the revenue and expenditure appropriation in the Non Departmental (D470) Non Departmental Grants Fund (249) Non Recurring (NRNP) budget by an amount not to exceed $425,000. b) Increase the revenue appropriation in the Non Departmental (D470) County Improvement COP Series 2024 Fund (444) Non Recurring (NRNP) budget by an amount not to exceed $195,000,000. c) Increase the expenditure appropriation in the Non Departmental (D470) County Improvement COP Series 2024 Fund (444) Non Recurring (NRNP) budget by an amount not to exceed $425,000. On June 22, 2022, and June 28, 2023, the Board of Supervisors approved the Authorization Resolutions and Declarations of Intent to Reimburse required for the issuance of tax-exempt securities (C-18-22-196-X-00 and C-18-23-126-X-00) to reimburse prior expenditures related to the construction, acquisition and equipping of County capital projects scheduled for fiscal years 2021-22, 2022-23, 2023-24, and 2024-25. The maximum principal amount of the obligation expected to be issued is $195,000,000 plus cost of issuance. (C-18-24-107-X-00)

Attachments (3)

Vote — approved

Kate Brophy McGee	yes
Debbie Lesko	yes
Mark Stewart	yes
Thomas Galvin	yes
Steve Gallardo	yes

78.RESOLUTION FOR EXECUTION AND DELIVERY OF A PURCHASE AGREEMENT AND A TRUST AGREEMENT AND OTHER NECESSARY AGREEMENTS, INSTRUMENTS AND DOCUMENTS, AND FOR THE ISSUANCE OF PLEDGED REVENUE OBLIGATIONS Adopt a Resolution authorizing the execution of a purchase agreement and a trust agreement and other necessary agreements, instruments and documents for the issuance of tax exempt securities, consisting of Pledged Revenue Obligations (PROs), in an amount sufficient to finance not to exceed $200,500,00

Item Text

78. RESOLUTION FOR EXECUTION AND DELIVERY OF A PURCHASE AGREEMENT AND A TRUST AGREEMENT AND OTHER NECESSARY AGREEMENTS, INSTRUMENTS AND DOCUMENTS, AND FOR THE ISSUANCE OF PLEDGED REVENUE OBLIGATIONS Adopt a Resolution authorizing the execution of a purchase agreement and a trust agreement and other necessary agreements, instruments and documents for the issuance of tax exempt securities, consisting of Pledged Revenue Obligations (PROs), in an amount sufficient to finance not to exceed $200,500,000, 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 2025-26, 2026-27, 2027-28, and 2028-29. The PROs would finance capital projects for General Fund and Special Revenue Fund departments. Exhibit A shows the proposed capital project expenditures by anticipated fiscal year. In accordance with A.R.S. §42-17106(B), authorize the following amendments to the fiscal year 2026 Non-Departmental (D470) budget: a) Decrease the revenue and expenditure appropriation in the Non Departmental (D470) Non Departmental Grants Fund (249) Non Recurring (NRNP) budget by an amount not to exceed $500,000. b) Increase the revenue appropriation in the Non Departmental (D470) County Improvement COP Series 2024 Fund (444) Non Recurring (NRNP) budget by an amount not to exceed $200,500,000. c) Increase the expenditure appropriation in the Non Departmental (D470) County Improvement COP Series 2024 Fund (444) Non Recurring (NRNP) budget by an amount not to exceed $500,000. On June 22, 2022, and June 28, 2023, the Board of Supervisors approved the Authorization Resolutions and Declarations of Intent to Reimburse required for the issuance of tax-exempt securities (C-18-22-196-X-00 and C-18-23-126-X-00) to reimburse prior expenditures related to the construction, acquisition and equipping of County capital projects scheduled for fiscal years 2024-25, 2025-26, 2026-27, 2027-28, and 2028-29. On April 10, 2024, the Board of Supervisors approved the Resolution to Issue $195,000,000 of Certificates of Participation, Series 2024 (C-18-14-107-X-00). On June 11, 2024, the County issued $190,450,000 in Certificates of Participation, Series 2024 to fund these capital projects. The amount issued was for half the project costs and this PROs issuance is to finance the remaining project costs. The maximum principal amount of the obligation expected to be issued is $200,500,000 plus cost of issuance. (C-18-26-045-X-00)

Attachments (4)