Attachment A - City Council Resolution SSS Hotel 9-7-2025 v3 FINAL.pdf

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RESOLUTION _____ 
A RESOLUTION GRANTING FINAL APPROVAL OF THE 
ISSUANCE, IN ONE OR MORE SEPARATE TAXABLE 
SERIES AND SUBSERIES, OF A PRINCIPAL AMOUNT 
NOT TO EXCEED $25,000,000 OF HOTEL REVENUE 
BONDS (SSS ACADEMY HOTEL PROJECT) OF THE 
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY 
OF PHOENIX, ARIZONA 
_______________ 
WHEREAS, The Industrial Development Authority of the City of Phoenix, 
Arizona (the “Issuer”), is a nonprofit corporation designated a political subdivision of the 
State of Arizona (the “State”) incorporated with the approval of the City of Phoenix, 
Arizona (the “City”); and 
WHEREAS, Title 35, Chapter 5, of the Arizona Revised Statutes, Section
35-701 et seq., as amended (the “Act”), authorizes the Issuer to issue revenue bonds for
the purposes set forth in the Act, including the making of secured and unsecured loans
to finance or refinance the acquisition, construction, improvement, equipping or operation
of a “project” (as defined in the Act) whenever the Board of Directors of the Issuer finds
such loans to further advance the interests of the Issuer or the public interest, and to 
refund outstanding obligations incurred by an enterprise to finance the costs of a “project”
when the Board of Directors of the Issuer finds such loans to be in furtherance of the
purposes of the Authority or in the public interest; and
ATTACHMENT A

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Resolution No. _____ 
WHEREAS, the Borrower has requested that the Issuer issue, in one or 
more separate taxable series and subseries, its Hotel Revenue Bonds (SSS Academy 
Hotel Project) (the “Bonds”), pursuant to a Trust Indenture (the “Indenture”), between the 
Issuer and UMB Bank, National Association (the “Trustee”), and enter into a Loan and 
Security Agreement (the “Agreement”), between the Issuer and the Borrower, pursuant 
to which the Issuer will loan the proceeds of the Bonds to the Borrower for purposes of 
(a) financing or refinancing the costs of existing facility improvements completed to date
located at 2775 West Bronco Butte Trail in Phoenix, Arizona (the “Facility”); (b) financing, 
refinancing and/or reimbursing the cost of existing construction material inventory 
purchased to date for the Facility; (c) financing, refinancing and/or reimbursing the cost 
of completing construction and equipping of the Facility; (d) funding reserves for 
capitalized interest, working capital and debt service, as required; and (e) paying costs of 
issuance and other related transaction costs in connection with the issuance of the Bonds 
(collectively, the “Project”), all in accordance with the Act; and 
WHEREAS, the Issuer, by Resolution 2025-17, duly adopted by the Board
of Directors of the Issuer at a lawful meeting called and held on September 18, 2025,
granted approval of the issuance and sale of the Bonds in an aggregate principal amount
not to exceed $25,000,000; and
WHEREAS, Section 35-721(B) of the Act provides that the proceedings of 
the Issuer under which the Bonds are to be issued require the approval of the Council of 
the City; and 
WHEREAS, information regarding the Project to be financed with the 
proceeds of the Bonds has been presented to the Council of the City; and

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Resolution No. _____ 
WHEREAS, it is intended that this Resolution shall constitute approval by 
the Council of the City pursuant to Section 35-721(B) of the Act with respect to the Bonds. 
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY 
OF PHOENIX, ARIZONA as follows: 
SECTION 1. The proceedings of the Issuer under which the Bonds are to 
be issued are hereby approved. 
SECTION 2. The issuance of the Bonds and the plan of finance for the 
Project are hereby approved. 
SECTION 3.  Notice of Arizona Revised Statutes Section 38-511 is hereby 
given.  The provisions of that statute are by this reference incorporated herein to the 
extent of their applicability to matters contained herein.

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Resolution No. _____ 
PASSED BY THE COUNCIL OF THE CITY OF PHOENIX, ARIZONA this ___ day 
of October, 2025. 
MAYOR 
ATTEST: 
 City Clerk 
APPROVED AS TO FORM: 
Acting City Attorney
REVIEWED BY: 
City Manager