August 13, 2025 Minutes
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MINUTES
INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GLENDALE, ARIZONA
MIDWESTERN UNIVERSITY ADMINISTRATION MEETING
19555 NORTH 95TH AVENUE
GLENDALE, ARIZONA 85308
AUGUST 13, 2025
4:00 P.M.
Present:
Robert Holmes, President
John Catledge, Vice President
Miles Charles, Secretary/Treasurer
Darryl Jaquess, Member
Manuel Ybarra, Member
Absent:
John Fallucca, Member
Attendees:
Lori German, Deputy Director, City of Glendale Economic Development
Brigitte Finley Green, Legal Counsel to the Authority
Monika Calamita, Quarles & Brady LLP, Special Issuer's Counsel to the Authority
Matt Sweeney, Midwestern University Representative
Greg O'Coyne, Midwestern University Representative
Nick Dodd, Raymond James & Associates, Inc
Jeffery Qualkinbush, Barnes & Thornburg LLP
Christopher Walraith, Chapman & Cutler LLP
Elizabeth Forzley, Chapman & Cutler LLP
Pedro Miranda, Squire Patton Boggs (US) LLP
Delaney Hoxsie, Squire Patton Boggs (US) LLP
Notice is hereby given that a Special Meeting of the Board of Directors of the Industrial Development Authority of the
City of Glendale, Arizona (the “Authority”) will be held at 4:00 p.m. on August 13, 2025 in the Midwestern University
Administration Building at 19555 North 95th Avenue, Glendale, Arizona, 85308, to consider and take action as appropriate
with regard to the following matters:
1.
CALL TO ORDER AND ROLL CALL
2.
APPROVAL OF THE MINUTES OF APRIL 29, 2025
a.
Industrial Development Authority Minutes of April 29, 2025.
The minutes of the Special Meeting of the Board of Directors of the Authority held on April 29, 2025, were
presented to the meeting and reviewed and discussed. Mr. Catledge noted that he has been a Director of the
Authority for over 20 years and that the font size of the minutes has gotten much smaller during that time period.
Upon a motion made by Mr. Catledge and seconded by Mr. Charles, the minutes were approved and adopted by
unanimous vote.
Motioned by Vice President John Catledge, seconded by Secretary/Treasurer Miles Charles
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Manuel Ybarra
Passed
3.
CONSIDERATION OF REVENUE BONDS
a.
Discussion and action as determined regarding the adoption of a resolution granting approval for issuance
of not to exceed $150,000,000 of the Authority’s revenue bonds for the benefit of Midwestern University to
finance facilities located on Midwestern University’s campuses located in Glendale, Arizona and Downers
Grove, Illinois.
Mr. Holmes then announced that the next matter on the Agenda was for the Board to consider the adoption
of a Resolution authorizing and approving the issuance of not to exceed $150,000,000 of the Authority’s
revenue bonds to benefit Midwestern University to finance facilities located on Midwestern’s campuses
located in Glendale, Arizona, and Downers Grove, Illinois, a copy of such Resolution being included in the
records of the Authority.
Ms. Calamita, presented the item and stated that representatives of Midwestern University and the finance
team were present and available for questions. There being no questions or discussion, Mr. Holmes called
for a motion and upon a motion made by Mr. Charles and seconded by Mr. Catledge, the Board voted
unanimously to adopt the Resolution presented to the Board, authorizing and approving the issuance of the
above-mentioned revenue bonds.
Motioned by Secretary/Treasurer Miles Charles, seconded by Vice President John Catledge
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Manuel Ybarra
Passed
4.
CORPORATE AUTHORITY RESOLUTION
Mr. Holmes then announced that the next matter on the Agenda was for the Board to consider the adoption of a
Resolution regarding certain corporate matters, including designating authorized representatives of the Authority,
authorized signers on bank, financial and other investment accounts, and public hearing officers, a copy of such
Resolution being included in the records of the Authority.
After discussion and upon motion made by Mr. Charles and seconded by Mr. Catledge, the Board voted
unanimously to adopt the Resolution presented to the Board.
Motioned by Secretary/Treasurer Miles Charles, seconded by Vice President John Catledge
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Manuel Ybarra
Passed
5.
FINANCIAL REPORT
Next, Mr. Charles, as Treasurer of the Authority, gave a financial report as of August 13, 2025, which noted that
the Authority had aggregate funds of $191,598.23 and paid one check since last meeting. A copy of the financial
report is included in the records of the Authority.
6.
PAYMENT OF INVOICES, AND ACTION AS DETERMINED
Next, Mr. Holmes noted there was an invoice from Squire Patton Boggs in the amount of $2,961.00. Thereafter,
upon a motion made by Mr. Catledge and seconded by Mr. Charles, the Board unanimously approved payment of
this invoice.
Motioned by Vice President John Catledge, seconded by Secretary/Treasurer Miles Charles
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Manuel Ybarra
Passed
7.
LEGAL COUNSEL REPORT
Next, Mr. Holmes requested that Ms. Finley Green give the legal counsel report. Ms. Finley Green reported that
she had sent out the annual administrative fee invoices for the Fiscal Year 2025-26 on August 6, 2025 for an
aggregate amount of $55,000 and would forward the checks to Mr. Charles as received.
8.
FUTURE AGENDA ITEMS
Next there was a discussion about future agenda items. Mr. Holmes noted that the annual meeting of the Board
would be scheduled in October or November.
9.
CALL TO THE PUBLIC
A call to the public was made. No members of the public were present.
10.
ADJOURNMENT
There being no further business, the meeting was adjourned at 4:19 p.m.
The Industrial Development Authority meeting minutes of _______, 2025 were submitted and approved this ___ day of
________, 2025.
____________________________________
Recording Secretary