KALEIDOSCOPE 2026 - BOS RESOLUTION(2-3-26).PDF

A RESOLUTION OF THE MARICOPA COUNTY BOARD OF 
SUPERVISORS APPROVING THE ISSUANCE BY THE INDUSTRIAL 
DEVELOPMENT AUTHORITY OF THE COUNTY OF MARICOPA OF 
ITS EDUCATION REVENUE BONDS (KALEIDOSCOPE SCHOOL 
PROJECT), SERIES 2026, IN ONE OR MORE TAX-EXEMPT AND/OR 
TAXABLE SERIES, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO 
EXCEED $9,500,000 
WHEREAS, The Industrial Development Authority of the County of Maricopa (the 
“Authority”) is a nonprofit corporation designated a political subdivision of the State of Arizona 
incorporated with the approval of the County of Maricopa, empowered under the Industrial 
Development Financing Act, A.R.S. § 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 or equipping of a “project” (as 
defined in the Act); 
WHEREAS, the Authority proposes to issue its Education Revenue Bonds (Kaleidoscope 
School Project), Series 2026 (the “Bonds”), in one or more tax-exempt and/or taxable series, in an 
aggregate principal amount not to exceed $9,500,000, for the benefit of Kaleidoscope School 
(the “Borrower”), an Arizona nonprofit corporation and an organization described in Section 
501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), which operates a 
charter school known as “Kaleidoscope School” established under Arizona Revised Statutes Title 
15, Chapter 1, Article 8, as amended; 
WHEREAS, the proceeds of the Bonds will be loaned by the Authority to the Borrower to 
(a) finance the costs of acquiring a school facility and associated real and personal property located 
at 16850 North 16th Street, Phoenix, Arizona (collectively, the “Facilities”) for use in connection 
with charter school operations, (b) fund any required reserve funds, (c) pay capitalized interest on 
the Bonds, if any, and (d) pay the costs incurred in connection with the authorization, issuance and 
sale of the Bonds (collectively, the “Project”); 
WHEREAS, on February 10, 2026, the Authority resolved (the “Authority Resolution”) 
to issue the Bonds, the Authority 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 Authority Resolution has been made available to the Maricopa County 
Board of Supervisors, and the Authority Resolution has been duly considered this date; 
WHEREAS, the Authority Resolution authorizes, among other things, the issuance and 
sale of the Bonds, the execution and delivery of a financing agreement among the Authority, the 
Borrower, and Columbia Bank or another bank, as purchaser of the Bonds (the “Financing 
Agreement”), and related financing documents, as well as such other documents as required for 
the issuance of the Bonds; 
WHEREAS, the terms, maturities, provisions for redemption, security, and sources of 
payment for the Bonds are set forth in the Financing Agreement and in the form of the Bonds;

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WHEREAS, the Maricopa County Board of Supervisors have been informed that the 
documents have been reviewed by competent Bond Counsel, Greenberg Traurig, 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 
Authority requires the approval of 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 
Section 35-721.B of the Act. 
NOW, THEREFORE, BE IT RESOLVED BY THE MARICOPA COUNTY BOARD 
OF SUPERVISORS, as follows: 
1. 
The issuance by the Authority of the Bonds in an aggregate principal amount not 
to exceed $9,500,000 is approved for all purposes under the Act, including specifically Section 
35-721.B. 
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 Authority Resolution in connection with the issuance of the 
Bonds.

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ADOPTED AND APPROVED on February 25, 2026. 
 
 
 
 
 
 
 
 
Chair, Maricopa County Board of Supervisors 
ATTEST: 
 
 
 
 
 
 
 
Clerk, Maricopa County Board of Supervisors