Attachment D - AMERICAS 1097688520 v1 - PHOENIX CITY COUNCIL RESOLUTION (final).pdf

4887-0962-3165.5  
ATTACHMENT D 
 
THIS IS A DRAFT COPY ONLY AND IS NOT AN OFFICAL COPY OF THE 
FINAL ADOPTED RESOLUTION 
 
RESOLUTION NO. ______ 
 
 
A RESOLUTION APPROVING THE ISSUANCE BY 
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF 
THE CITY OF PHOENIX, ARIZONA, OF SINGLE 
FAMILY MORTGAGE REVENUE BONDS, IN ONE 
OR MORE SERIES PURSUANT TO A PLAN OF 
FINANCE, 
IN 
AN 
AGGREGATE 
PRINCIPAL 
AMOUNT NOT TO EXCEED $200,000,000, TO 
FINANCE THE SERIES 2023 SINGLE FAMILY 
MORTGAGE REVENUE BOND PROGRAM OF THE 
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE 
CITY 
OF 
PHOENIX, 
ARIZONA 
AND 
THE 
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE 
COUNTY OF MARICOPA, AND APPROVING A 
COOPERATIVE/ 
INTERGOVERNMENTAL 
AGREEMENT, 
THE 
STANDARDS 
AND 
REQUIREMENTS 
AND 
THE 
GENERAL 
PLAN 
RELATING TO THE PROGRAM AND THE BONDS; 
AUTHORIZING THE CITY MANAGER OR HIS 
DESIGNEE 
TO 
EXECUTE 
ALL 
NECESSARY 
DOCUMENTS 
 
___________________ 
 
 
WHEREAS, The Industrial Development Authority of the City of Phoenix, 
Arizona (the “Phoenix Authority”), 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, The Industrial Development Authority of the County of 
Maricopa (the “Maricopa Authority” and, together with the Phoenix Authority, the 
“Authorities”) is a nonprofit corporation designated a political subdivision of the

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Resolution No. ____ 
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State incorporated with the approval of Maricopa County, Arizona (“Maricopa 
County”); and  
WHEREAS, Title 35, Chapter 5, of the Arizona Revised Statutes, Sections 
35-701 et seq., as amended (the “Act”), authorizes the Authorities and each of 
them to issue revenue bonds to finance directly or indirectly the acquisition, 
construction, improvement or equipping of projects which are owner-occupied 
single-family dwelling units to be occupied by persons of low and moderate 
income; and 
WHEREAS, the Authorities, the City and Maricopa County will enter into an 
agreement (the “Cooperative/Intergovernmental Agreement”) providing for the 
Authorities’ cooperation in jointly issuing bonds in an aggregate principal amount 
not to exceed $200,000,000 (the “Series 2023 Program Bonds”) to finance their 
Series 2023 Single Family Mortgage Revenue Bond Program (the “Series 2023 
Program”) to finance directly or indirectly the acquisition, construction, 
improvement or equipping of projects which are owner-occupied single-family 
dwelling units to be occupied by persons of low and moderate income throughout 
the area within Maricopa County (the “Project”) and providing that the combined 
jurisdictions of the Phoenix Authority and the Maricopa Authority will be the 
jurisdiction of both of the Authorities for purposes of the Series 2023 Program; and 
WHEREAS, Section 35-706(D) of the Act provides that the Standards and 
Requirements adopted by the Authorities for the Series 2023 Program and the 
Series 2023 Program Bonds requires the approval of the Council of the City; and

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WHEREAS, Section 35-726(A) of the Act provides that the General Plan 
adopted by the Authorities for the Series 2023 Program and the Series 2023 
Program Bonds requires the approval of the Council of the City; and 
WHEREAS, the Phoenix Authority, by Resolution No. 2023-14, duly 
adopted by the Board of Directors of the Phoenix Authority at a lawful meeting 
called and held on September 21, 2023, granted approval to the issuance and sale 
by the Phoenix Authority, jointly with the Maricopa Authority, of one or more series 
of the Series 2023 Program Bonds pursuant to a plan of finance in an aggregate 
principal amount not to exceed $200,000,000; and 
WHEREAS, 35-721(B) of the Act provides that the proceedings of the 
Phoenix Authority under which the Series 2023 Program Bonds are to be issued 
require the approval of the Council of the City for the issuance of the Series 2023 
Program Bonds; and 
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as 
amended (the “Code”) requires that an “applicable elected representative” (as that 
term is defined in the Code) approve the issuance of the Series 2023 Program 
Bonds and the plan of finance for the Project following a public hearing, which 
public hearing was jointly held by the Phoenix Authority and the Maricopa Authority 
on October 10, 2023; and 
WHEREAS, information regarding the Series 2023 Program and the Series 
2023 Program Bonds has been presented to the Council of the City; and

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Resolution No. ____ 
4887-0962-3165.5  
WHEREAS, it is intended that this Resolution shall constitute approval by 
the Council of the City pursuant to Sections 35-706(D), 35-726(A) and 35-721(B) 
of the Act and of the “applicable elected representative” as defined in Section 
147(f) of the Code with respect to the Series 2023 Project Bonds. 
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY 
OF PHOENIX, ARIZONA as follows: 
SECTION 1. The Cooperative/Intergovernmental Agreement relating to the 
Series 2023 Program is hereby approved.  The City Manager, or his designee, is 
hereby authorized to execute the Cooperative/Intergovernmental Agreement.  The 
Cooperative/Intergovernmental Agreement is to be in substantially the form now 
before the Council at this meeting and hereby approved, or with such changes 
therein as shall be approved by the City Manager, or his designee, the officers of 
the Authorities executing the same and by all other necessary parties, their 
execution thereof to constitute conclusive evidence of their approval of any and all 
changes or revisions therein from the form of the Cooperative/Intergovernmental 
Agreement now before this Council. 
SECTION 2. The Standards and Requirements adopted by the Authorities 
for the Series 2023 Program and the Series 2023 Program Bonds are hereby 
approved.  The Standards and Requirements are to be in substantially the form 
now before the Council at this meeting and hereby approved, or with such changes 
therein as shall be approved by the officers of the Authorities executing the same 
and by all other necessary parties, their execution thereof to constitute conclusive

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evidence of their approval of any and all changes or revisions therein from the form 
of the Standards and Requirements now before this Council. 
SECTION 3. The General Plan adopted by the Authorities for the Series 
2023 Program and the Series 2023 Program Bonds is hereby approved.  The 
General Plan is to be in substantially the form now before the Council at this 
meeting and hereby approved, or with such changes therein as shall be approved 
by the officers of the Authorities executing the same and by all other necessary 
parties, their execution thereof to constitute conclusive evidence of their approval 
of any and all changes or revisions therein from the form of the General Plan now 
before this Council. 
SECTION 4. The proceedings of the Phoenix Authority under which the 
Series 2023 Program Bonds are to be issued are hereby approved. 
SECTION 5. The issuance of the Series 2023 Program Bonds and the plan 
of finance for the Project are hereby approved for purposes of Section 147(f) of the 
Code. 
SECTION 6. The City Manager, or his designee, is hereby authorized to 
execute all necessary documents. 
SECTION 7. 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 under the laws of the 
State.

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Resolution No. ____ 
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PASSED BY THE COUNCIL OF THE CITY OF PHOENIX, ARIZONA this 
18th day of October, 2023. 
 
 
 
 
Mayor 
 
ATTEST: 
 
 
 
 City Clerk  
 
 
APPROVED AS TO FORM: 
 
 
 
 Acting City Attorney 
 
 
REVIEWED BY: 
 
 
 
 City Manager