HAM 2025 - BOS RESOLUTION (REVISED).PDF

Board of Supervisors Resolution 
 1103542984\3\AMERICAS 
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 
CHARTER SCHOOL REVENUE BONDS (HERITAGE ACADEMY – 
MARICOPA CAMPUS PROJECT), SERIES 2025, IN AN AGGREGATE 
ORIGINAL PRINCIPAL AMOUNT NOT TO EXCEED $36,500,000 
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 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 Authority proposes to issue one or more series of its tax-exempt and/or 
taxable Charter School Revenue Bonds (Heritage Academy – Maricopa Campus Project), Series 
2025 (the “Bonds”), in an aggregate original principal amount not to exceed $36,500,000, for the 
benefit of Heritage Academy Maricopa, Inc. (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 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) pay the costs of acquiring, constructing, improving, equipping and operating, as applicable, 
additions to charter school facilities located at 41000 West Heroes Way, Maricopa, Arizona, and 
land, buildings and related amenities located or to be located near the intersection of Honeycutt 
Road and Porter Road in Maricopa, Arizona (collectively, the “Project”) for use by the Borrower 
in connection with its charter school operations; (b) fund any required reserve funds; (c) pay 
capitalized interest, if any, on the Bonds; and (d) pay certain expenses relating to issuance and sale 
of the Bonds; 
WHEREAS, on February 11, 2025, the Authority resolved (the “Authority’s Resolution”) 
to issue the Bonds, the Authority’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 Authority’s Resolution has been made available to the Maricopa County 
Board of Supervisors, and the Authority’s Resolution has been duly considered this date; 
WHEREAS, the Authority’s Resolution authorizes, among other things, the issuance and 
sale of the Bonds and the execution and delivery of an Amended and Restated Trust Indenture (the 
“Indenture”) and related financing documents and 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 Indenture and in the form of the Bonds;

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Board of Supervisors Resolution 
 1103542984\3\AMERICAS 
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 
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 $36,500,000 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’s Resolution in connection with the issuance of the 
Bonds.

Board of Supervisors Resolution 
 1103542984\3\AMERICAS 
ADOPTED AND APPROVED on February 26, 2025. 
 
 
 
 
 
 
 
 
Chairman, Maricopa County Board of 
Supervisors 
ATTEST: 
 
 
 
 
 
 
 
Clerk, Maricopa County Board of Supervisors