Council to take action on Resolution No. 18-25 authorizing the issuance, sale and delivery of its General Obligation Bonds, Series 2025; delegating the authority to approve certain matters with respec

5.A
CITY OF BUCKEYE
Regular Council Meeting
COUNCIL ACTION REPORT
MEETING DATE: 05/06/25
AGENDA ITEM: 5.A. FIN: Resolution
No. 18-25 General Obligation Bonds,
Series 2025
DATE PREPARED: 05/05/25
DISTRICT NO.: City of Buckeye
STAFF LIAISON: William Kauppi, Chief Financial Officer,
wkauppi@buckeyeaz.gov, (623) 349- 6161
DEPARTMENT: Financial Services
AGENDA ITEM TYPE: Public Hearing
and Non Consent - New Business Items
ACTION/MOTION: (This language identifies the formal motion to be made by the Council) 
Council to take action on Resolution No. 18-25 authorizing the issuance, sale and delivery of its General
Obligation Bonds, Series 2025; delegating the authority to approve certain matters with respect to the
bonds, including determining the method of sale of the bonds, authorizing the acceptance of a proposal
for the purchase of the bonds and awarding the bonds to the purchaser thereof; providing for the annual
levy of a tax for the payment of the bonds; authorizing the appointment of a financial advisor and a bond
registrar, transfer agent and paying agent, if necessary; providing for the disposition of the proceeds of
such bonds; approving the form of the bonds and certain documents relating to and securing the
payment of the bonds, and authorizing completion, execution and delivery thereof; delegating the
authority to approve and deem final a form of official statement, if applicable; ratifying the implementation
of certain written continuing disclosure compliance procedures; adopting updated issuance and post-
issuance tax compliance procedures in connection with the issuance of the bonds of the City; and
ratifying all actions taken and to be taken to further this Resolution.
SUMMARY
PROJECT DESCRIPTION:
In the November 5th City of Buckeye Bond Election, voters approved the issuance and sale of
$137,000,000 of general obligation bonds for public safety improvement to include: a new Public Safety
Headquarters and modern training facilities and to bring new fire stations to the Westpark and Victory
neighborhoods.
Voters also approved the issuance and sale of $145,000,000 of general obligation bonds for street and
transportation improvements to include:  widening streets to eliminate bottlenecks, rehabilitating
damaged roads, widening Indian School Road from Jackrabbit to Perryville and adding lighting along
Sun Valley Parkway near the Tartesso and Festival neighborhoods.
The Council is being asked to proceed with the first of such issuances to finance the public
improvements by authorizing the issuance of not to exceed $75,000,000 of the City’s General Obligation
Bonds, Series 2025.
BENEFITS:
The proceeds of the proposed general obligation bonds are to be used for the purpose of providing funds
for public safety improvement projects and street and transportation improvement projects authorized by
the qualified electors of the City at the Election on November 5, 2024. The bonds will be payable solely
from ad valorem taxes levied against the taxable property of the City.
FUTURE ACTION:

The City Clerk and the officers of the City shall take all action necessary or reasonably required to carry
out, give effect to and consummate the transaction contemplated by Resolution No. 18 -25 and the bond
documents described therein, including, without limitation, the execution and delivery of the closing and
other documents required to be delivered in connection with the sale and delivery of the bonds.
FINANCIAL IMPACT STATEMENT:
The City shall annually levy and cause an ad valorem tax to be collected, at the same time and in the
same manner as other taxes are levied and collected on all taxable property in the boundaries of the
City, sufficient, together with the moneys from the sources described in Resolution No. 18-25, to pay
debt service on the bonds.
Sale of bonds commits the city to pay the corresponding debt service.  This issuance, and timing of
future issuances, is based upon maintaining a total property tax rate of $2.25. No additional debt shall be
issued unless this rate or lower can be maintained.
FISCAL YEAR:
2024-2025
Items related to a project or facility location must include an attached vicinity map for Council
Review.
ATTACHMENTS:
RES 18-25 - Buckeye GO Bonds 2025 - Authorizing Resolution (011)(GR 4.22.25)(6482413.11).docx
AGR - Buckeye - GO Bonds, 2025 - Registrar Contract (003) (GR 4.23.25)(6487311.3).docx
CER - Buckeye - GO Bonds, 2025 - Continuing Disclosure Cert (004)(GR 4.23.25)(6487278.4).docx
Buckeye GO 2025 - Bond Purchase Agreement(707506205.2).docx
PRELIM Buckeye, C of GO Srs 25 hp 4-15-25.pdf
05.05.25 revised - GO BOND ISSUE FINAL1.pptx