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Board of Supervisors Resolution A RESOLUTION OF THE MARICOPA COUNTY BOARD OF SUPERVISORS APPROVING THE ISSUANCE BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF MARICOPA OF ONE OR MORE SERIES OF ITS TAX-EXEMPT AND/OR TAXABLE EDUCATION REVENUE BONDS (LEGACY TRADITIONAL SCHOOLS – CLEMMONS (NORTH CAROLINA) CAMPUS PROJECT), SERIES 2026, IN AN AGGREGATE ORIGINAL PRINCIPAL AMOUNT NOT TO EXCEED $48,000,000 WHEREAS, The Industrial Development Authority of the County of Maricopa (the “Issuer”) is a nonprofit corporation designated a political subdivision of the State of Arizona incorporated with the approval of Maricopa County, Arizona, empowered under the Industrial Development Financing Act, Arizona Revised Statutes §§ 35-701 et seq. (the “Act”), to issue revenue bonds for the purposes set forth in the Act, including the making of secured or unsecured loans for the purpose of financing or refinancing the acquisition, construction, improvement, equipping or operating of a “project” (as defined in the Act); WHEREAS, the Issuer proposes to issue one or more series of its tax-exempt and/or taxable Education Revenue Bonds (Legacy Traditional Schools – Clemmons (North Carolina) Campus Project), Series 2026 (the “Bonds”), in an aggregate original principal amount not to exceed $48,000,000, for the benefit of Legacy Traditional Schools – North Carolina (the “Borrower”), a North Carolina nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), which intends to open a charter school serving students in grades kindergarten through 8 (the “School”) that will be part of a multi-state system of charter schools, currently comprised of 21 schools in Arizona, three schools in Nevada, two schools in Texas, and one school in South Carolina, that are managed by Vertex Education, LLC, an Arizona limited liability company; WHEREAS, the proceeds of the Bonds will be loaned by the Issuer, in one or more loans, to the Borrower to (i) assist the Borrower in financing all or a portion of the costs of acquiring land located at 1544 Lewisville-Clemmons Road, Clemmons, North Carolina, and constructing, improving, equipping and operating buildings, related infrastructure and amenities thereon (the “Facilities”), for use in connection with operation of the School; (ii) pay capitalized interest, if any, on all or a portion of the Bonds; (iii) fund any required reserve funds, and (iv) pay expenses relating to issuance of the Bonds; WHEREAS, on March 10, 2026, the Issuer resolved (the “Issuer’s Resolution”) to issue the Bonds, the Issuer’s Resolution being conditioned upon, among other things, the granting of approval to the issuance of the Bonds by the Maricopa County Board of Supervisors; WHEREAS, the Issuer’s Resolution has been made available to the Maricopa County Board of Supervisors, and the Issuer’s Resolution has been duly considered this date; WHEREAS, the Issuer’s Resolution authorizes, among other things, the issuance and sale of the Bonds, the execution and delivery of one or more indentures of trust and related financing documents as well as such other documents required for the issuance of the Bonds; 2 Board of Supervisors Resolution WHEREAS, the terms, maturities, provisions for redemption, security, and sources of payment for the Bonds will be set forth in the bond indenture and in the form of the Bonds; WHEREAS, the Maricopa County Board of Supervisors has been informed that the documents have been reviewed by competent Bond Counsel, Squire Patton Boggs (US) LLP, and Bond Counsel has determined that the documents adequately meet the requirements of the Act and the Code; WHEREAS, pursuant to Section 35-721.B of the Act, the issuance of the Bonds by the Issuer requires the approval of the Maricopa County Board of Supervisors; WHEREAS, pursuant to Section 147(f) of the Code, the Maricopa County Board of Supervisors must approve the issuance of the Bonds after a public hearing following reasonable public notice; WHEREAS, pursuant to Section 147(f) of the Code, following publication by posting on the Issuer’s website of a Notice of Public Hearing, a public hearing with respect to the Bonds and the location and nature of the Facilities to be financed was held telephonically by an authorized representative of the Issuer on or about March 10, 2026 (a copy of the Notice of Public Hearing is attached hereto and made a part of this Resolution); WHEREAS, a Report of Public Hearing regarding the Public Hearing held on March 10, 2026, has been presented to and considered by the Maricopa County Board of Supervisors; and WHEREAS, it is intended that this Resolution shall constitute approval by the Maricopa County Board of Supervisors with respect to the issuance of the Bonds pursuant to (a) Section 35-721.B of the Act and (b) Section 147(f) of the Code; NOW, THEREFORE, BE IT RESOLVED BY THE MARICOPA COUNTY BOARD OF SUPERVISORS, as follows: 1. The issuance by the Issuer of the Bonds in an aggregate principal amount not to exceed $48,000,000 is approved for all purposes under the Act, including specifically Section 35-721.B, and Section 147(f) of the Code. 2. The appropriate officers of the Maricopa County Board of Supervisors are hereby authorized and directed to do all such things to execute and deliver all such documents on behalf of the Maricopa County Board of Supervisors as may be necessary or desirable to effectuate the intent of this Resolution and the Issuer’s Resolution in connection with the issuance of the Bonds. 3 Board of Supervisors Resolution ADOPTED AND APPROVED on March 25, 2026. Chair, Maricopa County Board of Supervisors ATTEST: Clerk, Maricopa County Board of Supervisors ATTACHMENT: Notice of Public Hearing 4 Board of Supervisors Resolution NOTICE OF PUBLIC HEARING PUBLIC NOTICE IS HEREBY GIVEN that a public hearing will be held telephonically by an authorized representative of The Industrial Development Authority of the County of Maricopa (the “Issuer”) on March 10, 2026, commencing at 9:00 a.m. MST (or as soon thereafter as the matter may be heard), via the toll free dial-in number of 1-833-220-6615, enter code 970133 and press #, regarding the Issuer’s Education Revenue Bonds (Legacy Traditional Schools – Clemmons (North Carolina) Campus Project), Series 2026 (the “Bonds”) to be issued in one or more series, pursuant to a plan of financing in a maximum aggregate principal amount of $48,000,000. The Bonds will be issued as qualified 501(c)(3) bonds under Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”) The proceeds of the Bonds will be used to make a loan to Legacy Traditional Schools – North Carolina (the “Borrower”), a North Carolina nonprofit corporation and an organization described in Section 501(c)(3) of the Code, to: (1) finance all or a portion of the costs of acquiring, constructing, improving, equipping and operating charter school facilities located at 1544 Lewisville-Clemmons Road, Clemmons, North Carolina (the “Facilities”), (2) pay interest on the Bonds, (3) fund a debt service reserve fund for the Bonds, and (4) pay costs of issuing the Bonds. The Facilities financed with the proceeds of the Bonds will be owned and operated by the Borrower. The principal of, premium, if any, and interest on the Bonds will not constitute a debt or liability of the Issuer, Maricopa County, Arizona, 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 Bonds are issued. This public notice is published pursuant to the requirements of Section 147(f) of the Code. Any interested person may attend or send written comments and express his or her view with respect to the Bonds and the location and nature of the Facilities to be financed. Any written comments should be submitted to The Industrial Development Authority of the County of Maricopa, 8687 East Via de Ventura, Suite 306, Scottsdale, Arizona 85258, Attention: President, and clearly marked: “Legacy Traditional Schools – Clemmons (North Carolina) Campus Project.” Written submissions should be mailed in sufficient time to be received before the time of the hearing. Date: March 2, 2026 THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF MARICOPA