RESOLUTION DOI & EXHIBIT A - APRIL 2016.PDF

Resolution Declaring Official Intent Under U.S. Treasury
Regulations with Respect to Reimbursements from Bond
Proceeds of Temporary Advances Made for Payments Prior
to Issuance, and Related Matters.
WHEREAS, United States Treasury Regulations §1.150-2 (the “Reimbursement
Regulations”) prescribe conditions under which proceeds of bonds, notes or other obligations used
to reimburse advances made for capital and certain other expenditures paid before the issuance of
such bonds, notes or other obligations will be deemed to be expended (or properly allocated to
expenditures) for purposes of Sections 103 and 141-150 of the Internal Revenue Code of 1986, as
amended (the “Code”), upon such reimbursement so that the proceeds so used will no longer be
subject to requirements or restrictions under those sections of the Code; and
WHEREAS, certain provisions of the Reimbursement Regulations require that there be
a declaration of official intent not later than 60 days following payment of the capital and other
expenditures expected to be reimbursed from proceeds of bonds, notes or other obligations, and that
the reimbursement occur within certain prescribed time periods after the capital or other expenditure
is paid or after the property resulting from that capital or other expenditure is placed in service; and
WHEREAS, Maricopa County, Arizona (the “County”) intends to borrow the proceeds
of tax-exempt obligations (the “Bonds”) to finance the costs of certain capital expenditures; and
WHEREAS, this Board wishes to declare the County’s official intent to reimburse itself
from the proceeds of the Bonds for certain capital and other expenditures made by the County prior
to the issuance of the Bonds as required by the Reimbursement Regulations;
NOW, THEREFORE, be it Resolved by the Board of Supervisors of Maricopa County,
Arizona as follows:
Section 1. The County reasonably expects that certain capital and other
expenditures (the “Original Expenditures”) made for the purposes described on Exhibit A hereto
(the “Project”) will be reimbursed with the proceeds of the Bonds. The maximum principal amount
of the Bonds expected to be issued for the Project is $94,537,333.
Section 2. The Chief Financial Officer of the County or his/her designee are each
authorized to make appropriate reimbursement and timely allocations from the proceeds of the
Bonds to reimburse the Original Expenditures, and to take any other actions as may be appropriate,
including evidencing in writing an allocation on the books and records of the County showing the
use of the proceeds of the Bonds to restore the money advanced for the Original Expenditures, all at
the times and in the manner required under the Reimbursement Regulations in order for the
reimbursement to be treated as an expenditure of such proceeds for purposes of Sections 103 and
141 to 150 of the Code.
010‐8211‐5986/2

PASSED, ADOPTED AND APPROVED on , 2016.
By:
Chairman, Board of Supervisors
ATTEST:
By:
Clerk, Board of Supervisors
APPROVED AS TO FORM:
Timothy E. Pkre1I
Squire Patton oggs (US) LI,P
Counsel for Maricopa County
U10-8211-5986/2

Exhibit A ‐ Created 4/25/16
Capital Project and Equipment Detail
Prepared by: Office of Management and Budget
Date Prepared: April 25, 2016
Anticipated
Project Type Useful Life FY 2016 FY 2017 FY 2018 FY 2019 Total
Capital County facility 10+ years 2,990,332 19,794,696 0 0 22,785,028
Capital Projects 10 years 293,870 750,640 0 7,419,540 8,464,050
Technology Infrastructure Projects 10 years 1,114,992 5,238,019 0 0 6,353,011
Technology Systems Projects 10 years 5,605,935 24,552,409 23,468,979 2,942,921 56,570,244
County Land 365,000 0 0 0 365,000
Total Projects Financed $ 10,370,129 $ 50,335,764 $ 23,468,979 $ 10,362,461 $ 94,537,333
Project Detail FY 2016 FY 2017 FY 2018 FY 2019 Total
Chambers Building Remodel 568,118 1,590,787 0 0 2,158,905
East Court Improvements 1,993,065 7,000,000 0 0 8,993,065
Sheriff HQ Project 0 452,148 0 0 452,148
West Court Improvements 220,006 385,000 0 0 605,006
4th Avenue Jail 88,430 1,043,717 0 0 1,132,147
Lower Buckeye Jail 120,713 1,571,750 0 0 1,692,463
MCSO ‐ Shooting Range @ Buckeye Facility 0 1,751,294 0 0 1,751,294
Adult Probation ‐ Southport Facility 0 3,000,000 0 0 3,000,000
Adult Probation ‐ Black Canyon 0 3,000,000 0 0 3,000,000
Total Capital County facility 10+ years $ 2,990,332 $ 19,794,696 $ ‐ $ ‐ $ 22,785,028
Vulture Mountain 0 217,751 0 0 217,751
Maricopa Regional Trail System 293,870 532,889 0 0 826,759
Public Radio System 0 0 0 7,419,540 7,419,540
Total Capital Projects 10 years $ 293,870 $ 750,640 0 7,419,540 8,464,050
Bix Room Byte Info Exchange 1,114,992 2,785,275 0 0 3,900,267
Remote Sites (Part 3 of 3) 0 2,452,744 0 0 2,452,744
Total Technology Infrastructure Projects 10 years $ 1,114,992 $ 5,238,019 0 0 6,353,011
Cyber Security ‐ Tools and Software Svc 416,204 2,116,703 0 0 2,532,907
Enterprise Data Center Systems 520,330 2,797,017 0 0 3,317,347
CHS Electronic Health Records 1,418,990 887,527 0 0 2,306,517
Computer Aided Mass Appraisal 0 0 7,197,847 0 7,197,847
Jail Management Information System 0 0 5,608,676 2,137,772 7,746,448
Treasurer Tech System Upgrade 3,250,411 18,751,162 10,662,456 805,149 33,469,178
Total Technology Systems Projects 10 years $ 5,605,935 $ 24,552,409 23,468,979 2,942,921 56,570,244
Flood Control Land Purchase 365,000 0 0 0 365,000
Toal Land Purchase $ 365,000 0 0 0 365,000
Total Projects Financed $ 10,370,129 $ 50,335,764 $ 23,468,979 $ 10,362,461 $ 94,537,333
S:\FIN_REPORTING\DEBT\Exhibit A ‐ Capital Project April 25 2016