PHOENIX CHILDREN'S HOSP 2024 - MARICOPA COUNTY BOARD OF SUPERVISORS RESOLUTION.PDF

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 
ITS REVENUE BONDS (PHOENIX CHILDREN’S HOSPITAL), SERIES 
2024, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED 
$45,555,000 
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 bonds, notes and other obligations for the purposes set forth in the Act, including the making of 
secured and/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, Phoenix Children’s Hospital, Inc. (the “Borrower”) is a health care institution 
under the Act, and the Borrower and Phoenix Children’s Hospital Foundation (the “Foundation”), an 
affiliate of the Borrower, are each an Arizona nonprofit corporation, and are each an entity exempt 
from federal income tax under Section 501(a) of the Internal Revenue Code of 1986, as amended (the 
“Code”), as a nonprofit organization under Section 501(c)(3) of the Code; 
 
WHEREAS, the Borrower has requested the assistance of the Authority in the financing of 
the “Project,” which is the refunding of the outstanding Arizona Health Facilities Authority Hospital 
Revenue Bonds (Phoenix Children’s Hospital), Series 2013B, which proceeds were used to finance 
and refinance the acquisition, construction, renovation, improvement, equipping and/or operating of 
certain hospital, health care and related facilities that constitute “projects” (as defined in the Act), 
owned and operated by the Borrower or the Foundation and located in the cities of Phoenix, Avondale 
and Mesa in the State of Arizona; 
 
WHEREAS, the Authority proposes to issue its Revenue Bonds (Phoenix Children’s 
Hospital), Series 2024 (the “Bonds”), in one or more series, in an aggregate principal amount not 
to exceed $45,555,000, for the benefit of the Borrower, and loan such proceeds to the Borrower to 
finance the Project and the costs and expenses related to the issuance and sale of the Bonds; 
WHEREAS, on November 12, 2024, 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 and considered by the 
Maricopa County Board of Supervisors; 
WHEREAS, the Authority’s Resolution authorizes, among other things, the issuance and 
sale of the Bonds, and the execution and delivery of one or more bond indentures (individually 
and collectively, the “Bond Indenture”), between the Authority and The Bank of New York Mellon 
Trust Company, N.A., one or more loan agreements, between the Borrower and the Authority, and

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Board of Supervisors Resolution 
 
related financing documents, as well as other documents required for the issuance and sale of the 
Bonds; 
WHEREAS, the terms, maturities, provisions for redemption, security, and sources of 
payment for the Bonds are 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 counsel for the Authority, its General Counsel, and 
counsel for the Authority has determined that the documents adequately meet the requirements of 
the Act; 
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;  
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 $45,555,000 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.

ADOPTED AND APPROVED on November 20, 2024. 
 
 
 
 
 
 
 
 
Chairman, Maricopa County Board of 
Supervisors 
ATTEST: 
 
 
 
 
 
 
 
Clerk, Maricopa County Board of Supervisors