AAEC - TEFRA NOTICE MARICOPA COUNTY.DOC

NOTICE OF PUBLIC HEARING
Notice is hereby given that a public hearing will be held by the Maricopa County Board of
Supervisors (the “County”) at the [Maricopa County Administration Offices, Main Floor Public
Lobby, 301 West Jefferson, Phoenix, Arizona 85003] on May 20, 2015 at 8:30AM, regarding the
proposed plan of refinance and the proposed issuance by The Industrial Development Authority of the
County of Yavapai (the “Issuer”) of its Education Refunding Bonds (Arizona Agribusiness and Equine
Center, Inc. Project) Series 2015, in one or more tax-exempt and/or taxable series, in an aggregate
principal amount not to exceed $9,000,000 (the “Series 2015 Bonds”) at the request and for the benefit of
Arizona Agribusiness and Equine Center, Inc. (the “Borrower”), a duly organized and validly existing
Arizona nonprofit corporation and organization described in Section 501(c)(3) of the Internal Revenue
Code of 1986 (the “Code”).
The proceeds of the Series 2015 Bonds will be used to make a loan to the Borrower for the
purposes of: (i) refinancing the acquisition, construction, improvement and equipping of certain
secondary education charter school facilities, including real property, located in Maricopa County,
Arizona, including (a) approximately 15,000 square feet comprising 15 classrooms, offices, storage and
bathrooms at 1924 East Baseline Road, Phoenix, Arizona (the “South Mountain Facilities”), (b)
approximately 15,000 square feet comprising 15 classrooms, offices, storage and bathrooms located at
2165 North Power Road, Mesa, Arizona (the “Red Mountain Facilities”), (c) capital improvements to the
facilities originally located at 17811 North 32nd Street, Phoenix, Arizona (which capital improvements
are currently located at 3775 East Union Hills Drive, Phoenix, Arizona) (the current location, the
“Paradise Valley Facilities”) and (d) certain costs associated with the issuance of the Issuer’s Education
Revenue Bonds (Arizona Agribusiness and Equine Center, Inc. Project), Series 2004A and Taxable
Series 2004A-T (the “Series 2004 Bonds”) through the refunding of the Series 2004 Bonds (ii) funding
any required reserve funds; and (iii) paying certain expenses related to the issuance of the Series 2015
Bonds. The South Mountain Facilities, the Red Mountain Facilities and the Paradise Valley Facilities are
owned and operated by the Borrower as public charter high schools.
The principal of, premium, if any, and interest on the Series 2015 Bonds will not constitute an
indebtedness or liability of the Issuer, the County, the State of Arizona, or any political subdivision of the
State of Arizona, or a charge against their general credit or any taxing powers, but shall be payable solely
from the sources provided for in the proceedings pursuant to which the Series 2015 Bonds are issued. The
Issuer has no taxing power.
This public notice is published pursuant to the requirements of Section 147(f) of the Code. Any
interested persons may attend or send written comments and make known their view with respect to the
Series 2015 Bonds and the location and nature of the project to be financed. Any written comments
should be submitted to the Board of Supervisors of Maricopa County for receipt prior to the date and
time of such hearing at Attention: Chair, Board of Supervisors of Maricopa County, 10th Floor, 301 West
Jefferson, Phoenix, Arizona 85003, and clearly marked: “Arizona Agribusiness and Equine Center, Inc.
Project.” Further information can be obtained by calling 602-506-3416.
Dated: May 6, 2015
THE COUNTY OF MARICOPA, ARIZONA
4831-5836-1635.1