RES 13-25 (Floreo) Canvass of GO Bond Special Election (004)(6.27.25)(6583422.4).pdf

6583422.4 
1 
RESOLUTION NO. 13-25 (Floreo at Teravalis) 
 
A RESOLUTION DECLARING THE RESULTS OF AND ADOPTING A 
CERTIFICATE OF RESULT OF THE GENERAL OBLIGATION BOND 
ELECTION HELD IN AND FOR THE DISTRICT AND ORDERING THE 
RECORDING OF SUCH CERTIFICATE 
 
 
BE IT RESOLVED BY THE DISTRICT BOARD OF FLOREO AT TERAVALIS 
COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA) as follows: 
 
 
1. 
Findings. 
 
 
 
A. 
Floreo at Teravalis Community Facilities District (City of Buckeye, 
Arizona) (the “District”) is authorized by Arizona Revised Statutes (“A.R.S.”) Section 48-719, as 
amended, to issue and sell general obligation bonds of the District to provide moneys for certain 
“public infrastructure purposes” consistent with the “general plan” of the District as such terms 
are defined in Title 48, Chapter 4, Article 6, Arizona Revised Statutes, as amended (the “Act”). 
 
 
 
B. 
Such general obligation bonds may not be issued unless approved at an 
election ordered and called to submit to the qualified electors of the District (“qualified electors”) 
or to those persons who are qualified to vote pursuant to A.R.S. § 48-707(G), as amended, 
being, if no person has registered to vote within the District within 50 days immediately 
preceding any scheduled election date, the owners of land within the District who are qualified 
electors of the State of Arizona and other landowners according to A.R.S. § 48-3043, as 
amended (the “Landowners” and in either case, collectively, the “Electors”) the question of 
authorizing the governing board of the District (the “District Board”) to issue such general 
obligation bonds for such purposes set forth in the ballot. 
 
 
 
C. 
The District Board deemed it necessary and advisable to order and call 
such an election and to establish the procedures whereby such election should be held; and did 
so pursuant to Resolution No. 12-25 ordering and calling a general obligation bond adopted by 
the District Board on June 3, 2025, which provided that a special election, in and for the District, 
be held on June 25, 2025 (the “Election”) relating to increasing the general obligation bond 
authorization of the District by an additional $350,000,000 to increase the original authorization 
of $150,000,000 that was approved at an election held on February 28, 2006 (the “Original 
Election”), to a total general bond authorization of $500,000,000.  No person had registered to 
vote within the District within 50 days immediately preceding the Election or at any other time 
prior to the Election.  On June 25, 2025, there was submitted to the Electors of the District the 
questions set forth in the official ballot described in Resolution No. 12-25. 
 
 
 
D. 
The election board for the Election has filed with the District Board its 
returns of election and the ballots cast at the polling place and, within 14 days after the election, 
the District Board has canvassed the returns of the Election and determined: 
 
 
 
 
(1) 
No persons who would constitute resident qualified electors 
resided in the District.  Landowners of the land according to A.R.S. § 48-3043 were eligible to 
vote, and the total number of votes eligible to be cast (equal to the number of acres or portions 
thereof rounded upward to the nearest one-fifth of an acre) equaled 3,029 acres.  Only qualified 
electors (none) and Landowners of land within the District were permitted to vote at the Election.

6583422.4 
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(2) 
A total of two ballots representing 2,812.33 acres in the District 
had been cast by Landowners in response to Question No. 1, that both ballots were marked 
“Bonds, Yes” and 0 ballots were marked “Bonds, No”. 
 
 
 
 
(3) 
The Election had been conducted and the returns thereof made as 
required by law. 
 
 
2. 
Canvass.  After careful examination of the official returns of the Election, it is 
found and determined by the District Board as follows: 
 
 
 
A. 
A majority of the votes cast by the Electors voting at the Election voted in 
favor of the question shown on Exhibit A attached hereto. 
 
 
 
B. 
That up to and including an additional $350,000,000 aggregate principal 
amount of general obligation bonds are therefore authorized to be issued and sold, in addition to 
the $150,000,000 authorized in the Original Election, for an aggregate principal amount of 
$500,000,000. 
 
 
 
C. 
The Chairman of the District Board shall execute, and the District Clerk 
attest, the “Certificate of Result of Election” attached as Exhibit B hereto. 
 
 
 
D. 
The District Clerk is hereby directed to record the attached “Certificate of 
Result of Election” in the Office of the County Recorder of Maricopa County, Arizona; to return 
said copy with the recording date shown therein to the official records of the District; and to 
provide a copy thereof to the State Real Estate Department. 
 
 
3. 
Effective Date.  This resolution shall be effective immediately. 
 
 
[Signatures on following page]

6583422 
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PASSED by the District Board of Floreo at Teravalis Community Facilities District (City 
of Buckeye, Arizona) on July 1, 2025. 
 
 
 
FLOREO AT TERAVALIS 
 
 
COMMUNITY FACILITIES DISTRICT 
 
 
(CITY OF BUCKEYE, ARIZONA) 
 
 
 
 
______________________________________ 
 
Chairman, District Board 
 
ATTEST: 
 
 
_____________________________________ 
District Clerk  
 
APPROVED AS TO FORM 
 
 
____________________________________ 
Special Counsel 
 
 
Exhibit A Ballot 
Exhibit B Certificate of Results of Election

6583422.4 
 
Exhibit A 
 
Ballot 
 
(consisting of 1 page)

6583422.4 
A-1 
Number of acres owned _________ 
OFFICIAL BALLOT 
 
GENERAL OBLIGATION BOND SPECIAL ELECTION 
FOR THE FLOREO AT TERAVALIS COMMUNITY FACILITIES DISTRICT 
(CITY OF BUCKEYE, ARIZONA) 
June 25, 2025 
 
Question No. 1 
 
Shall the district board (the “Board”) of Floreo at Teravalis Community Facilities District (City of Buckeye, Arizona) (the 
“District”) be authorized to issue general obligation bonds of the District, in the denominations, series and form prescribed 
by the Board, and having the maturities (not exceeding 25 years), interest payment dates and interest rates, whether fixed 
or variable, not exceeding 12% per annum, established by the Board and containing such other terms, conditions, 
covenants and agreements as the Board deems proper, in an additional amount of $350,000,000, for an increased 
maximum amount of not to exceed $500,000,000 to provide monies: (i) (1) for planning, design, engineering, 
construction, acquisition or installation of any or all of the following improvements, including necessary or incidental 
work, whether newly constructed, renovated or existing, and all necessary or desirable appurtenances (“public 
infrastructure”):  (a) sanitary sewage systems, including collection, transport, storage, treatment, dispersal, effluent use and 
discharge; (b) drainage and flood control systems, including collection, transport, diversion, storage, detention, retention, 
dispersal, use and discharge; (c) water systems for domestic, industrial, irrigation, municipal or fire protection purposes 
including production, collection, storage, treatment, transport, delivery, connection and dispersal, but not including 
facilities for agricultural irrigation purposes unless for the repair or replacement of existing facilities when required by 
other improvements described herein; (d) roadways and parking facilities including all areas for vehicular  use for travel, 
ingress, egress and parking; (e) areas for pedestrian, equestrian, bicycle or other non-motor vehicle use for travel, ingress, 
egress and parking; (f) pedestrian malls, parks, recreational facilities other than stadiums and open space areas for the use 
of members of the public for entertainment, assembly and recreation; (g) landscaping including earthworks, structures, 
lakes and other water features, plants, trees and related water delivery systems; (h) public buildings, public safety facilities 
and fire protection facilities; (i) lighting systems, (j) traffic control systems and devices including signals, controls, 
markings and signage; and (k) equipment, vehicles, furnishings and other personalty related to such items; (2) acquiring, 
converting, renovating or improving existing facilities for public infrastructure; (3) acquiring interests in real property for 
public infrastructure; (4) establishing, maintaining and replenishing reserves from any source described in Arizona 
Revised Statutes Section 48-717 or from any other source in order to secure payment of debt service on bonds; (5) funding 
and paying from bond proceeds interest accruing on bonds for a period of not to exceed three years after their date of 
issuance; (6) providing for the timely payment of debt service on bonds or other indebtedness of the District; 
(7) refinancing any matured or unmatured bonds with new bonds; and (8) expenses of the District incident to and 
reasonably necessary to carry out the purposes specified in this paragraph (clauses (1) through (8), both inclusive, being 
“public infrastructure purposes”); and (ii) for repaying all or part of the amounts advanced by land-owners for public 
infrastructure purposes set forth above; such bonds shall be payable from a tax levied and collected annually on all taxable 
property in the District, sufficient to pay interest on such bonds when due and to redeem such bonds when they mature, as 
authorized by the constitution and laws of the State of Arizona, including particularly (but not by way of limitation) Title 
48, Chapter 4, Article 6, Arizona Revised Statutes, together with all amendments and additions thereto? 
 
The voter shall place a mark in the square opposite the words “Bonds, Yes” or “Bonds, No”, whichever words express the 
voter’s choice. 
 
BONDS, YES     
BONDS, NO      
 
NOTICE TO VOTERS: 
Voters shall indicate their vote on the question by inserting a mark in the square opposite the phrase which expresses the 
voter’s choice.  Only qualified electors of the District are eligible to vote at this special election.  The voter understands 
that the vote cast will constitute the vote for all of the acres owned by the voter.

6583422.4 
 
Exhibit B  
 
Certificate of Results of Election 
 
(consisting of 2 pages)

6583422.4 
B-1 
 
 
 
 
 
 
 
 
CERTIFICATE OF RESULT OF ELECTION BY THE DISTRICT BOARD OF 
FLOREO AT TERAVALIS COMMUNITY FACILITIES DISTRICT (CITY OF 
BUCKEYE, ARIZONA), RELATIVE TO THE SPECIAL ELECTION HELD ON 
JUNE 25, 2025. 
 
 
The District Board of Floreo at Teravalis Community Facilities District (City of Buckeye, 
Arizona), hereby certifies as follows: 
 
 
 
1. 
Pursuant to the resolution passed and adopted by the District Board on 
June 3, 2025, an election was duly and regularly held on June 25, 2025, for the purpose of 
approving increased authorization for the issuance and sale of general obligation bonds by 
$350,000,000, for a total principal amount of $500,000,000. 
 
 
 
2. 
The election has been conducted and the official returns thereof have been 
filed as required by law and the total number of votes cast at the special bond election in answer 
to the question submitted were as follows: 
 
QUESTION 
VOTES:  
YES 
NO 
 
 
Question #1 - Increase of $350,000,000 General 
Obligation Bonds 
 
2,812.33 acres 0 acres 
 
 
 
3. 
Each and every person who voted at the special election was a lawful 
elector of the District. 
 
 
 
4. 
The majority of the votes cast at the election was in favor of the issuance 
and sale of the bonds described in the official ballot.  
 
[Signatures on following page]

6583422.4 
B-2 
 
IN WITNESS WHEREOF, the Chairman of this Board has hereunto placed his hand 
and caused the same to be attested by the Clerk on July 1, 2025. 
 
 
 
 
 
 
___________________________________ 
Chairman, District Board 
 
 
ATTEST: 
 
 
___________________________________ 
District Clerk 
 
 
 
 
THIS DOCUMENT MUST BE RECORDED IN THE OFFICE OF THE COUNTY 
RECORDER OF MARICOPA COUNTY, ARIZONA, AND A COPY OF THIS DOCUMENT, 
ONCE RECORDED, SHALL BE FILED WITH THE ARIZONA STATE REAL ESTATE 
DEPARTMENT.