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BOARD OF SUPERVISORS DISTRICTS RESOLUTION NO. C-43-21-074-X-00b A RESOLUTION OF THE BOARD OF SUPERVISORS OF MARICOPA COUNTY, ARIZONA APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF AND AGREEMENT BETWEEN THE TREASURER OF MARICOPA COUNTY AND J.P. MORGAN CHASE BANK, N.A. PROVIDING FOR SEPARATE LINES OF CREDIT FOR EACH POLITICAL SUBDIVISION OF THIS STATE FOR WHICH THE COUNTY TREASURER ACTS AS TREASURER; RATIFYING ALL ACTIONS TAKEN TO DATE WITH RESPECT TO THE POLITICAL SUBDIVISION LINE OF CREDIT AGREEMENT. RECITALS WHEREAS, Maricopa County (the "County") through its Board of Supervisors (the "Supervisors"), acting as the Board of Deposit (the "Board of Deposit"), has heretofore ordered the receipt of bids for a servicing bank for the County for the period commencing July 1, 2021 · and ending June 30, 2024, with permitted extensions of the two additiona1 years pursuant to A.R.S. § 35-325; and WHEREAS, included in the proposals for servicing bank were proposals for a line of credit for each individual political subdivision of the state for which the County Treasurer acts as treasurer pursuant to A.R.S. § 11-604.01 ; and WHEREAS, the proposal of J.P. Morgan Chase Bank, N.A. was announced as the best bid for services as servicing bank and the best bid to provide the County and politica1 subdivisions of the State for which the County Treasurer acts as treasurer with lines of credit for the period commencing July 1, 2021 and ending June 30, 2024, with permitted extensions of not more than two additional years; and WHEREAS, A.R.S. § 11-604.01 authorizes the Supervisors of the County to enter into line of credit agreements for each individual subdivision of the state for which the County acts as treasurer; and WHEREAS, a draft of the Business Loan Agreement providing a line of credit for each qualifying political subdivision of this State for which the County Treasurer acts as treasurer has been provided by the Bank (the "Draft Political Subdivision Agreement" and when executed and delivered the "Political Subdivision Agreement") and has been placed on file with the Clerk of this Board and presented at the meeting at which this Resolution was adopted; and l WHEREAS, by this Resolution the Supervisors will authorize the execution and delivery of the Political Subdivision Agreement in substantially the form so presented to the Board of Supervisors, subject to the approval of the Maricopa County Attorney, as assigned counsel. NOW THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF MARICOPA COUNTY, ARIZONA, AS FOLLOWS: Section 1. That the Draft Political Subdivision Agreement, in substantially the form on file with the Clerk, is approved and the Chairman of this Board and the Treasurer of the County are authorized and directed to execute and deliver the Political Subdivision Agreement on file with the Clerk for each qualifying political subdivision of the state for which the County Treasurer acts as Treasurer. Section 2. The County Treasurer is named as each political subdivision's agent for all purposes of the Political Subdivision Agreement. The Treasurer is authorized to take all acts and do all things on behalf of each qualifying political subdivision of the state for which the County Treasurer acts as treasurer. Section 3. All actions taken by the Treasurer and any person representing the Treasurer with respect to the Political Subdivision Agreement, and the procedures pertaining thereto, are hereby ratified and affirmed. This resolution shall become effective upon adoption and execution. By: _____________________________ Chairperson, Board of Supervisors Dated: __________________________ ATTEST: ________________________________ Clerk of the Board of Supervisors APPROVED AS TO FORM AND WITHIN THE POWERS AND AUTHORITY OF MARICOPA COUNTY: ____________________________ Deputy County Attorney 2