April 10, 2024 Draft Minutes

1100876232\1\AMERICAS 
MINUTES OF SPECIAL MEETING 
OF THE BOARD OF DIRECTORS OF 
THE INDUSTRIAL DEVELOPMENT AUTHORITY 
OF THE CITY OF GLENDALE, ARIZONA 
 
APRIL 10, 2024 
_________________________________________________________ 
 
A Special Meeting of the Board of Directors of The Industrial Development 
Authority of the City of Glendale, Arizona (the “Authority”) was duly called and held at 4:00 p.m. 
on Wednesday, April 10, 2024, in the Civic Center Annex – Vault Boardroom, 5752 West Glenn 
Drive, Glendale, Arizona. 
The following Directors of the Authority were present at the meeting:  Robert L. 
Holmes and Howard A. McKenna. Miles Charles and Darryl Jaquess were present by telephone.  
Directors John Catledge and Lisa Maestas were absent.  Robert L. Holmes, President of the 
Authority, presided at the meeting and Julie Arvo MacKenzie, legal counsel to the Authority, 
served as Secretary at the meeting. 
Also present were Jessi Pederson of the City of Glendale Economic Development 
Department; Greg O”Coyne and Dr. Kathleen Goeppinger, representatives of Midwestern 
University. 
The minutes of the Special Meeting of the Board of Directors of the Authority held 
on October 11, 2023, were presented to the meeting, reviewed and discussed.  Upon a motion made 
by Mr. McKenna and seconded by Mr. Charles, the minutes were approved and adopted by 
unanimous vote. 
Mr. Holmes announced that the next item on the Agenda was for the Board to 
consider granting preliminary approval for issuance of not to exceed $30,000,000 of the 
Authority’s revenue bonds for the benefit of Midwestern University Foundation to finance the 
student loan program for students attending Midwestern University.  Representatives of 
Midwestern University made presentations regarding the student loan program, including that this 
issue will be the fourth issue under the program, with bonds issued in 2015, 2019 and 2021.   
Thereafter, following discussion and upon a motion made by Mr. McKenna and 
seconded by Mr. Charles, a Resolution was unanimously adopted as presented granting 
preliminary approval to Midwestern University Foundation for the issuance not to exceed 
$30,000,000 of the Authority’s revenue bonds for the benefit of Midwestern University 
Foundation to finance the student loan program for students attending Midwestern University ( a 
copy of the Resolution to be kept as part of the permanent records of the Authority). 
Legal counsel had no information to report other than a few prospective bond 
applicants reached out for more information about the process.  
Next, Mr. Charles, as Treasurer of the Authority, gave a financial report as of 
March 31, 2024, which noted that the Authority had aggregate funds of $168,867.10.  Thereafter, 
by acclimation, the financial report was accepted as presented, a copy of which is included in the 
records of the Authority.

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Next, Mr. Holmes noted there is an invoice from Squire Patton Boggs in the 
amounts of $5,625.00. Thereafter, upon a motion made by Mr. McKenna and seconded by Mr. 
Charles, the Board unanimously approved payment of the invoice. 
There being no further business, the meeting was adjourned at 4:15 p.m. 
 
 
 
 
 
 
 
 
 
____________________________________ 
 
 
 
 
 
 
 
Miles Charles, Secretary