VILLA MONTESSORI 2023 - BOS RESOLUTION.PDF

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Board of Supervisors Resolution 
A RESOLUTION OF THE MARICOPA COUNTY BOARD OF 
SUPERVISORS APPROVING THE ISSUANCE BY THE INDUSTRIAL 
DEVELOPMENT AUTHORITY OF THE COUNTY OF MARICOPA OF 
ONE OR MORE SERIES OF ITS TAX-EXEMPT AND/OR TAXABLE 
EDUCATION 
REVENUE 
BONDS 
(VILLA 
MONTESSORI, 
INC. 
PROJECT), SERIES 2023, IN AN AGGREGATE ORIGINAL PRINCIPAL 
AMOUNT NOT TO EXCEED $6,000,000 
WHEREAS, The Industrial Development Authority of the County of Maricopa (the 
“Issuer”) is a nonprofit corporation designated a political subdivision of the State of Arizona 
incorporated with the approval of the Maricopa County, Arizona, empowered under the 
Industrial Development Financing Act, Arizona Revised Statutes. § 35-701 et seq. (the “Act”), to 
issue revenue bonds for the purposes set forth in the Act, including the making of secured or 
unsecured loans for the purpose of financing or refinancing the acquisition, construction, 
improvement or equipping of a “project” (as defined in the Act); 
WHEREAS, the Issuer proposes to issue one or more series of its tax-exempt and/or 
taxable Education Revenue Bonds (Villa Montessori, Inc. Project), Series 2023 (the “Bonds”), in 
an aggregate original principal amount not to exceed $6,000,000, for the benefit of Villa 
Montessori, Inc. (the “Borrower”), an Arizona nonprofit corporation and an organization 
described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), 
that operates a charter school established under Arizona Revised Statutes Title 15, Chapter 1, 
Article 8, as amended; 
WHEREAS, the proceeds of the Bonds will be loaned by the Issuer to the Borrower to 
(a) finance the costs of acquiring the real property and existing improvements located at 2927 
East Campbell Avenue in Phoenix, Arizona, including the property at 4429 North 29th Street, and 
constructing, renovating, improving and equipping, as applicable, additional improvements 
thereon for use by the Borrower in connection with operation of its charter school, (b) fund any 
required reserve funds, (c) pay capitalized interest, if any, on all or a portion of the Bonds, and 
(d) pay the costs incurred in connection with the authorization, issuance and sale of the Bonds; 
WHEREAS, on May 9, 2023, the Issuer resolved (the “Issuer’s Resolution”) to issue the 
Bonds, the Issuer’s Resolution being conditioned upon, among other things, the granting of 
approval to the issuance of the Bonds by the Maricopa County Board of Supervisors; 
WHEREAS, the Issuer’s Resolution has been made available to the Maricopa County 
Board of Supervisors, and the Issuer’s Resolution has been duly considered this date; 
WHEREAS, the Issuer’s Resolution authorizes, among other things, the issuance and 
sale of the Bonds, the execution and delivery of a Bond Indenture and Loan Agreement, and 
related financing documents as well as such other documents as required for the issuance of the 
Bonds; 
WHEREAS, the terms, maturities, provisions for redemption, security, and sources of 
payment for the Bonds are set forth in the Bond Indenture and in the form of the Bonds; 
WHEREAS, copies of the documents providing for the issuance of the Bonds have been 
made available to the Maricopa County Board of Supervisors;

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Board of Supervisors Resolution 
WHEREAS, the Maricopa County Board of Supervisors have been informed that the 
documents have been reviewed by competent Bond Counsel, Engelman Berger, P.C., and Bond 
Counsel has determined that the documents adequately meet the requirements of the Act and the 
Code; 
WHEREAS, pursuant to Section 35-721.B of the Act, the proceedings of the Issuer 
under which the Bonds are to be issued require the approval of the Maricopa County Board of 
Supervisors for the issuance of the Bonds; and 
WHEREAS, it is intended that this Resolution shall constitute approval by the Maricopa 
County Board of Supervisors with respect to the issuance of the Bonds pursuant to 
Section 35-721.B of the Act. 
NOW, THEREFORE, BE IT RESOLVED BY THE MARICOPA COUNTY 
BOARD OF SUPERVISORS, as follows: 
1. 
The issuance by the Issuer of the Bonds in an aggregate principal amount not to 
exceed $6,000,000 is approved for all purposes under the Act, including specifically 
Section 35-721.B. 
2. 
The appropriate officers of the Maricopa County Board of Supervisors are hereby 
authorized and directed to do all such things to execute and deliver all such documents on behalf 
of the Maricopa County Board of Supervisors as may be necessary or desirable to effectuate the 
intent of this Resolution and the Issuer’s Resolution in connection with the issuance of the 
Bonds.

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Board of Supervisors Resolution 
ADOPTED AND APPROVED on May __, 2023. 
 
 
 
 
 
 
 
 
Chairman, Maricopa County Board of 
Supervisors 
ATTEST: 
 
 
 
 
 
 
 
Clerk, Maricopa County Board of Supervisors