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INTERGOVERNMENTAL AGREEMENT BETWEEN MARICOPA COUNTY STADIUM
DISTRICT AND MARICOPA COUNTY TREASURER’S OFFICE
(C-43-26-059-X-00)
This Intergovernmental Agreement (“Agreement”) is between Maricopa County Stadium District,
a tax levying public improvement district and political taxing subdivision of the State of Arizona
(the “District”), and the Treasurer of Maricopa County (“County Treasurer”). The District and the
County Treasurer are collectively referred to as the Parties or individually as a Party.
RECITALS
WHEREAS, the Maricopa County Board of Supervisors (“MCBOS”) did, on September 25, 1991,
create the District and empowered it with all the authority contained in A.R.S. § 48-4201, et seq.;
and
WHEREAS, on June 27, 2025, the Governor signed House Bill 2704 into law as A.R.S. § 48-4203
(2025 Amendment), enacting substantial changes to the Powers and Duties of the District including
but not limited to making it into an independent legal entity entirely distinct from Maricopa
County; and
WHEREAS, starting June 28, 2025, the MCBOS no longer serves as the District’s Board of
Directors (the “District Board”) and no longer has any legal liability for the District except as
expressly required by statute or contract. See A.R.S. § 48-4203(H); and
WHEREAS, the County Treasurer, from 1991 until the 2025 Amendment, was designated ex
officio as the treasurer of the District and as part of that duty the County Treasurer maintained the
County Stadium District Fund. That Fund included sub-funds known as the Cactus League Funds
and the Ballpark Operations Fund as defined in A.R.S. § 48-4231; and
WHEREAS, under the 2025 Amendment, the District is authorized to enter into contracts and to
designate a treasurer to provide financial management services associated with the Stadium
District Fund, see A.R.S. §§ 48-4203(A)(3), (D)(1-3); and
WHEREAS, the District desires to continue its relationship with the County Treasurer and to have
the County Treasurer continue to provide the District with financial services as defined in A.R.S.
§ 35-315(K) and continue to hold the Stadium District Fund as has been done previously; and
WHEREAS, the County Treasurer has agreed to provide such services to the District and this
Agreement is authorized by the MCBOS pursuant to A.R.S. §§ 11-201, -951, -952; and
WHEREAS, the County Treasurer has an exclusive existing multi-year contract with the Home Bank
and operates under the terms of that contract;
NOW THEREFORE, for the good and valuable consideration set forth herein, the receipt and
sufficiency of which is hereby acknowledged, the Parties hereby agree to the following:
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ARTICLE I
COUNTY STADIUM DISTRICT FUND
1.1.
The Fund. The County Treasurer shall maintain the County Stadium District Fund
(“Fund”) including, but not limited to, revenue and other monies received by District as
described below:
1.1.1 Monies transmitted to the District from the Arizona State Treasurer, the City of
Phoenix, and from Maricopa County as required by A.R.S. §§ 42-1116 (D), 42-5032.03,
42-6018, and 42-6113.
1.1.2 Payments received from leasing, subleasing or the renting of property owned,
leased or controlled by the District.
1.1.3 Revenues received by District from admissions, concessions, and other proceeds
from events held at a stadium or other venue space owned or leased by District.
1.1.4 Interest and other income received from investing monies in the Fund.
1.1.5 Gifts, grants, and donations received for that purpose from any public or private
source.
ARTICLE II
CAR RENTAL SURCHARGE
2.1
Car Rental Surcharge. The District has levied and is collecting a car rental surcharge
pursuant to A.R.S. § 48-4234 and § 5-839 (G)(1) (“District Surcharge”).
2.2
The District’s Agreement with Tourism and Sports Authority. The District is party to
an intergovernmental Agreement with the Tourism and Sports Authority (“Authority”), recorded
as instrument number 20040010672 in the official records of Maricopa County, in which District
agreed to assign revenues from the District Surcharge to the Authority for “District Cactus Leage
Purposes”, as defined in the intergovernmental Agreement with the Authority. Such assignment of
revenues was subject to and subordinate to any outstanding District bond debt. As of June of 2019,
all such bond debt has been paid by the District and is no longer outstanding.
2.3
Transfer of District Surcharge Revenue. The County Treasurer agrees to accept all
District Surcharge revenues transmitted by the Arizona State Treasurer to the District and to
subsequently assign said revenues to the Authority pursuant to the District’s intergovernmental
Agreement with the Authority.
ARTICLE III
ADMINISTRATION OF THE FUND
3.1
Authorized District Disbursements and Payments. The County Treasurer shall promptly
disburse monies from the Fund upon a request from District’s Executive Director, Chairperson, or
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their Authorized Designee. Such requests may be provided by email or via the Agency Web portal
and must include any supporting documentation required by the County Treasurer.
3.2
EFT and Warrants. Disbursements and payments shall be made by electronic funds
transfer and/or high-speed warrants unless otherwise agreed to by the Parties. Such disbursements
or payments may be controlled as to timing or presentation precedence by the Home Bank contract.
3.3
Home Bank. From time to time, Maricopa County contracts with a servicing bank (the
“Home Bank”) for negotiated services. See A.R.S. §§ 35-321, -325. That contract includes
numerous provisions as to the availability of funds, volume savings, indemnification, and other
terms. All Home Bank contractual terms shall apply equally to District as it does to Maricopa
County. At the time of this Agreement, Chase Bank is the designated Home Bank. Any and all Home
Bank contracts in effect during the term of this Agreement are incorporated by reference. Copies
of the Home Bank contracts are available for review by the District.
3.4
Home Bank Selection. From time to time, the County Treasurer and/or the MCBOS may
change what financial services company acts as its banking provider. The selection of a new Home
Bank is exclusively reserved to the MCBOS. The determination whether to renew with the Home
Bank is exclusively reserved to the County Treasurer.
3.5
Oversight. The County Treasurer’s role in processing the District disbursements and
payments shall be ministerial and custodial in nature. So long as the District provides the necessary
documentation along with its disbursement request, the disbursement or payment will be made.
The County Treasurer shall not be responsible for verifying the appropriateness of any
expenditure. The County Treasurer may, but is not required to, notify the District of any suspect
disbursements or purchases.
3.6
Total Administrative Costs. “Administrative Costs” are those costs which arise directly
from the County Treasurer’s performance of its duties as the custodian of the Fund or from
servicing the District.
3.6.1 Administrative Costs may be of two types: (1) County Treasurer staff time and (2)
the County Treasurer’s out-of-pocket expenses.
3.6.2 Staff time will be billed pursuant to the current “Administrative Costs Schedule”,
explained below in 3.10.
3.6.3 Out-of-Pocket Expenses generally consist of one-time, periodic, or irregular
expenses, such as postage or project implementation costs, and will typically vary month-to-
month.
3.6.4 “Total Administrative Costs” consist of the combined staff time rate and the variable
out-of-pocket expenses. Total Administrative Costs are billed monthly.
3.7
Service Fees. Service fees or banking servicing fees (“Service Fees”) are those monies
imposed on the County Treasurer by outside forces, primarily by the Home Bank, for the holding
of monies. The District will be financially responsible for its share of the Service Fees.
3.8
Reimbursement of Total Administrative Costs and Service Fees Required. All
Administrative Costs along with the District’s proportionate share of any Service Fees shall be
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reimbursed by the District. This clause specifically includes any Service Fees associated with the
servicing of the Fund by the Home Bank and/or any Service Fees associated with investing in or
the maintenance of the Investment Pool.
3.9
Calculating the Reimbursement of Total Administrative Costs and Service Fees. The
District’s reimbursement of the Total Administrative Costs and Service Fees shall be strictly
limited to the District’s share of those Administrative Costs and Service Fees. This clause
specifically applies to any Administrative Costs or Service Fees associated with the Home Bank
or the Investment Pool.
3.10
Administrative Cost Schedule. The Administrative Costs Schedule will be used to
reimburse the County Treasurer for monthly staff time attributable to servicing the District and the
Fund.
3.10.1 The Administrative Cost Schedule will be two-tier: the Standard Rate and the
Expanded Rate. The Standard Rate is the default rate the District will be charged each
month for County Treasurer staff time. The Standard Rate is a flat fee which reimburses
the County Treasurer for monthly staff time used by the District. The Expanded Rate is for
months when, for one reason or another, servicing the District requires additional County
Treasurer staff time over and above the Standard Rate. See Exhibit A, which is
incorporated herein by reference.
3.10.2 The Administrative Costs Schedule will operate on a five (5) year term. This initial
Administrative Costs Schedule will be in force for five (5) years starting from the execution
of this Agreement.
3.10.3 The County Treasurer may, at any time after the expiration of an Administrative
Cost Schedule’s five (5) year term, adopt an amended Administrative Costs Schedule with
updated rates as may be needed to account for increased labor costs. Any newly adopted
Administrative Costs Schedule will be in effect for a minimum of another five (5) year
period, unless this Agreement terminates during that term. The District will receive at least
thirty (30) days’ advance notice if the County Treasurer intends to amend the
Administrative Costs Schedule.
3.11
Administrative Documentation and Monthly Payment. The County Treasurer will, on
a monthly basis, provide the District with written documentation showing the Total Administrative
Costs (staff time plus out-of-pocket expenses) and the Service Fees being charged to the District,
if any. Once a month, on a regular schedule, the County Treasurer will take its payment by debiting
either the Fund or the District’s previously denominated sub-fund or accounting string.
3.12
Legal Indemnification. The District will indemnify the County Treasurer for any and all
attorneys’ fees and costs charged or assigned to the County Treasurer as a result of any claim or
challenge associated with the County Treasurer’s actions as described in this Agreement or by
virtue of its association with the District or District Board. The County Treasurer may, but is not
required to, have joint legal representation with the District or the District’s Board. The County
Treasurer shall have the right of refusal as to any named counsel.
3.13
Elected Office. The District recognizes that the County Treasurer is an elected position
and, for that reason, this Agreement does not attach to any single individual but rather to the
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County Treasurer Office-holder (“ex officio”). No official or personal liability shall accrue as to
any County Treasurer in fulfilling the terms of this Agreement.
3.14
District Board. Any changes made to the District Board, their Designated Assignee, or the
District’s policies and procedures as to purchases must be promptly communicated to the County
Treasurer.
3.15
Administration of this Agreement. This Agreement may be administratively amended by
the County Treasurer and District Chairperson or Executive Director so long as such amendments
do not substantively change the terms of this Agreement and are approved by the Maricopa County
Attorney’s Office.
3.16
The Investment Pool.
3.16.1 Investment of Unexpended Monies. Execution of this Agreement constitutes authorization
to participate in the Investment Pool and shall result in any unexpended monies being invested.
The Investment Pool is run by the County Treasurer in a manner consistent with A.R.S.§ 48-
4231(D). Neither Maricopa County nor the County Treasurer guarantee any financial returns.
3.16.2 Investment Selection and Sales. The selection of investment opportunities is
exclusively that of the County Treasurer in conjunction with the MCBOS. The MCBOS,
acting as the Board of Deposit, can compel the sale of financial investments pursuant to
A.R.S. § 35-323. The District shall have no role in the selection or sale of financial
investments.
3.16.3 Interest. The District’s Investment Pool monies may, on at least a quarterly basis, earn
or be charged simple interest depending on the positive or negative status of the Fund or sub-
fund and when individual investments mature or reach designated coupon dates.
ARTICLE IV
THE POWERS AND DUTIES OF THE PARTIES.
4.1
The District’s Powers and Duties.
4.1.1 The District is solely responsible for the use and control of monies transmitted into
and out of the Fund from or to any source, including any monies gained pursuant to statute.
See A.R.S. §§ 42-1116(D), -5032.03, -6018, -6113.
4.1.2 The District shall work in good faith with the County Treasurer and the Home Bank
to meet its financial obligations timely.
4.1.3 The District acknowledges that the County Treasurer may require supporting
documentation prior to the release of Fund monies.
4.1.4 The District shall make all decisions and be solely responsibility for the
disbursements and payments as to any District employees, vendors, and service providers.
This provision is inclusive of any financial obligation undertaken by District.
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4.1.5 The District is solely responsible for communicating to the County Treasurer any
and all District conditions or rules associated with the Fund. Whenever the District has
multiple sub-funds or accounting strings, the District shall communicate the relationships
between those sub-funds and accounting strings as to each other and as to incoming and
outgoing monies. This provision includes but is not limited to which accounts may be drawn
on if another is lacking necessary funds to cover an obligation or disbursement.
4.1.6 Upon execution of this Agreement, the District shall advise the County Treasurer
whether it will operate under a single Fund or if it desires additional accounting strings.
Whenever the District has more than one sub-fund or accounting string, it is solely the
District’s responsibility to ensure there are enough monies, or another accessible account,
to timely pay its obligations.
4.1.7 The District is solely responsible for ensuring that any anticipated monies are
deposited with the County Treasurer. The County Treasurer will not loan monies to the
District or “float” the District.
4.1.8 The District shall make all decisions and be solely responsibility for the use of the
Fund for real property purchases and leases, for capital repairs, and for the reconstruction,
replacement, maintenance and improvements to the infrastructure of a major league
baseball facility, and any adjacent or related buildings and/or venues. This term includes
District office space.
4.1.9 The District shall ensure that County Treasurer or the County Treasurer’s Security
Administrator is immediately updated when a signatory on the Fund changes or is removed.
4.1.10 The District is solely responsible for auditing and controlling its own purchases,
disbursements, payments, and withdrawals from the Fund and is responsible for ensuring
that such are in alignment with the District’s own internal processing protocol.
4.1.11 The District shall be solely responsible for the timely drafting, reviewing, and
approving of any and all financial or legal disclosures required by any private entity, private
person, taxing district, bank, or governmental entity including but not limited to the State
of Arizona and Maricopa County.
4.1.12 The District shall be solely responsible for causing an annual audit to be conducted
on the Fund by an independent Certified Public Accountant.
4.1.13 The District is responsible for understanding the terms and conditions set out in the
County contract with the Home Bank. The District understands that the contractual terms
with the Home Bank will control certain of the actions of the County Treasurer and that
they are non-negotiable.
4.1.14 The District shall maintain a secure environment and secure technology for the
recording and tracking of its disbursements, income, and all financial services provided by
the County Treasurer. In the event of a data breach, the District will promptly notify the
County Treasurer of any breach in writing.
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4.1.15 The District shall be solely and exclusively responsible for compliance with all
terms and all District responsibilities in A.R.S. § 48-4231.
4.2
The County Treasurer’s Powers and Duties.
4.2.1 The County Treasurer shall control access to the Fund. Access to the Fund, sub-funds or
accounting strings, and any reports derived thereof shall be provided to the District’s
Executive Director, its Chairperson, or its Designated Agent. That access may be provided
via the Agency Web.
4.2.2 The County Treasurer shall promptly deposit and account for all monies coming into
or going out of the Fund. This term explicitly includes all District Surcharge revenues and
assignments. This term may be controlled in full or in part by the terms of the contract with
the Home Bank.
4.2.3 The County Treasurer shall promptly assign the appropriate monies to the Authority.
4.2.4 Pursuant to Article II of this Agreement, the County Treasurer will assign all District
Surcharge Revenues to the Authority. The burden will be on the District to ensure that the
County Treasurer has all necessary information to fulfill this term. The County Treasurer
shall not be required to interpret the District’s IGA with the Authority.
4.2.5 The County Treasurer shall timely execute all properly authorized disbursements
and payments pursuant to the terms of the contract with the Home Bank so long as a District
designated requestor has provided all required documentation
4.2.6 The County Treasurer shall promptly advise the District if the Fund or any sub-fund
goes into the negative or if any disbursement or payment is not honored.
4.2.7 The County Treasurer shall act as the ministerial arm and custodian of District
Fund(s).
4.2.8 The County Treasurer shall operate in good faith and shall treat the District in a
substantially similar manner as it does other taxing districts.
4.2.9 The County Treasurer shall respond timely to requests for documents by the District.
4.2.10 The County Treasurer shall timely respond to requests for technical assistance,
service, or assistance by the District.
4.2.11 The County Treasurer shall maintain a secure environment and secure technology
for the recording and tracking of disbursements, income, and all financial services provided
to the District. In the event of a data breach, the County Treasurer will promptly notify the
District in writing.
4.2.12 The County Treasurer is solely responsible for managing the Investment Pool and
will do so in compliance with A.R.S. § 35-323.
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ARTICLE V
GENERAL PROVISIONS
5.1
Agreement Effective Date and Term. This Agreement shall become effective as of the
date it is approved by the District Board and MCBOS. This Agreement shall remain in full force
for a period of ten (10) years. After the expiration of the first ten (10) year term, the Parties may
upon mutual agreement extend the term of this Agreement by another five (5) years.
5.2
Agreement Termination and Notice. This Agreement may be terminated early for a
material breach. The termination procedure requires the offended Party to first provide the other party
written notice of an Intent to Terminate as provided for in 5.10 and 5.11. The notice must specify
the nature of the breach. The Party believed to be in breach shall have thirty (30) days from the
receipt of that notice to cure the breach. Failing a satisfactory cure, this Agreement will be deemed
terminated after ninety (90) days.
5.3
Final Accounting and Transfer. Upon the termination or expiration of this Agreement,
the County Treasurer shall, upon written request from District, transfer all monies remaining in the
Fund and shall provide any final accounting or reports reasonably requested by District. The
County Treasurer shall first debit the Fund for any unpaid Administrative Costs or Service Fees
owed by the District. The County Treasurer shall retain such records as required by applicable law.
The Parties shall cooperate in good faith to timely complete any pending transactions or
obligations under this Agreement.
5.4
Choice of Law and Venue. This Agreement shall be enforced and interpreted pursuant to
the laws of the State of Arizona. Any action related to the enforcement of this Agreement shall be
in the Maricopa Superior Court.
5.5
Compliance with All State and Federal Laws. Each Party is required to be in full
compliance with all pertinent State statutes including those in Title 11, Title 35, and Title 48. Each
Party is required to be in full compliance with all pertinent Federal laws including E-Verify, non-
discrimination, the ADA, and the Civil Rights Act. Failure to maintain such compliance shall be
cause for termination of this Agreement.
5.6
Arbitration. In the event that the Parties cannot resolve an issue between themselves, the
Arbitration terms in A.R.S. § 12-133 and §12-1518 shall apply.
5.7
Public Records and Recordkeeping. Both Parties are subject to the public records laws
of this state. See A.R.S. §§ 38-121, -121.01. Personally Identifiable Information (“PII”) and
financial account numbers shall be redacted prior to any public disclosure. Both Parties must
maintain all records related to this Agreement for a period of at least six (6) years from the original
date of any document or digital record. The terms “records” and “documents” are to be interpreted
broadly.
5.8
Confidentiality. Each Party shall keep the other Party’s confidential information,
including Fund account numbers and PII, secure whether the information is kept in written form
or held digitally as data.
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5.9
Conflict of Interest. This Agreement shall be subject to the provisions of A.R.S. § 38-511.
5.10
Notice to Other Party. All written notices required under this Agreement shall be sent to:
Maricopa County Treasurer’s Office
Attn: County Treasurer
301 W. Jefferson St.
Suite 100
Phoenix, Arizona 85003
Maricopa County Stadium District:
Attn: Chair of the Board of Directors
c/o Gammage & Burnham
40 North Central, 20th Floor
Phoenix, Arizona 85004
With a copy to: Manjula Vaz
Gammage & Burnham
40 North Central, 20th Floor
Phoenix, Arizona 85004
5.11
Notice Delivery and Completion. Any notice sent by registered or certified mail, return
receipt requested, shall be deemed given on the date of delivery shown on the receipt card, or if no
delivery date is shown, the postmark thereon. If sent by regular mail, the notice shall be deemed
given 72 hours after the notice is addressed as required in this paragraph and mailed with postage
prepaid. Notices delivered by United States Express Mail or overnight courier that guarantee next
day delivery shall be deemed given 24 hours after delivery of the notice to the Postal Service or
courier.
5.12
Waiver. The waiver by any Party of any right granted to it under this Agreement is not a
waiver of any other right granted under this Agreement, nor may any waiver be deemed to be a
waiver of a subsequent right.
5.13
Severability. Wherever possible, each provision of this Agreement shall be interpreted in
such a manner as to be valid under applicable law, but if any provision shall be invalid or prohibited
under the law, such provision shall be ineffective to the extent of such prohibition or invalidation
but shall not invalidate the remainder of such provision or the remaining provisions.
5.14
Partnership. The relationship between the Parties is limited to this Agreement. Nothing
contained in this Agreement shall create any partnership, joint venture, or any other unspecified
relationship between the Parties.
5.15
Third-Party Beneficiary. Except as expressly provided in this Agreement, no term or
provision of this Agreement is intended as or shall be for the benefit of any third-person or entity
not a party to this Agreement, and no such other person or entity shall have any right or cause of
action under this Agreement.
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5.16
Time. Time is of the essence concerning this Agreement. Unless otherwise specified in
this Agreement, the term “day” as used in this Agreement means a calendar day. If the date for
performance of any obligation under this Agreement or the last day of any time period provided
for in this Agreement falls on a Saturday, Sunday or legal holiday, then the date for performance
or time period shall expire at the close of business on the first day thereafter which is not a
Saturday, Sunday or legal holiday. This clause may be subject to the terms in the Home Bank
contract.
5.17
Headings. Sections and other headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
5.18
Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original but all of which together shall constitute the same instrument.
Faxed, copied and scanned signatures are acceptable as original signatures.
{The remainder of this page is left intentionally blank}
Signature pages follow
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IN WITNESS WHEREOF, the Parties have executed this Agreement. MARICOPA
COUNTY TREASURER
Kate Brophy-McGee,
Chair
Date
Attested to by:
Juanita Garza
Clerk of the Board
Date
APPROVAL OF DEPUTY COUNTY ATTORNEY
I hereby state that I have reviewed the proposed Intergovernmental Agreement and declare this
Agreement to be in proper form and within the powers and authority granted to the Parties by their
respective governing bodies under the laws of the State of Arizona.
Kim Miles,
Deputy County Attorney
Date
MARICOPA COUNTY STADIUM DISTRICT
Chair of Board of Directors
Date
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Exhibit A
The Maricopa County Treasurer and the County Stadium District
Pursuant to the terms of the Intergovernmental Agreement (“Agreement”) entered into between
the Maricopa County Treasurer and the County Stadium District, the Parties have agreed that this
Cost Schedule will control the charges for staff time, as reported by Treasurer’s Office employees.
See Agreement at Sections 3.6, 3.8-3.10. The 2026 Administrative Cost Schedule will be in effect
for five (5) years. See Agreement at Section 3.10.2. After the conclusion of fiscal year 2031, the
Administrative Cost Schedule may be extended or the rates may be modified as outlined in the
Agreement. See Agreement at Section 3.10.3. This document shall be considered part of the
executed Agreement and this document is subject to all of the explicit terms in the Agreement. In
the event of a discrepancy between the language in the Agreement and this document, the
Agreement will control.
Administrative Cost Schedule (Through Fiscal Year 2031)
Standard Rate: $150
Rate Basis: The Standard Rate is a flat monthly charge. It is the default rate for servicing the
Stadium District each calendar month. If the servicing of the Stadium District requires 5 or more
hours of Treasurer’s Office staff time in any calendar month, the District will be charged the
Expanded Rate.
Expanded Rate: $300
Rate Basis: The Expanded Rate is a flat monthly charge. The Expanded Rate will be used when
servicing the Stadium District takes five or more hours of Treasurer’s Office staff time in any
calendar month.