LEGACY TRADITIONAL - BOS RESOLUTION.DOCX

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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 
ONE OR MORE SERIES OF ITS TAX-EXEMPT AND/OR TAXABLE 
EDUCATION REVENUE BONDS (LEGACY TRADITIONAL SCHOOLS 
PROJECTS), 
SERIES 
2020, 
IN 
AN 
AGGREGATE 
ORIGINAL 
PRINCIPAL AMOUNT NOT TO EXCEED $48,000,000
WHEREAS, The Industrial Development Authority of the County of Maricopa 
(the “Issuer”) 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, 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 or 
equipping of a “project” (as defined in the Act);
WHEREAS, the Issuer proposes to issue one or more series of its tax-exempt and/or 
taxable Education Revenue Bonds (Legacy Traditional Schools Projects), Series 2020 
(the “Bonds”), in an aggregate original principal amount not to exceed $48,000,000, for the 
benefit of Legacy Traditional School – Chandler (formerly known as Athlos Traditional 
Academy (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 is the 
representative of an obligated group (the “Obligated Group”) comprised of the Borrower and 
certain of its affiliates, including Legacy Traditional School – Deer Valley (“LTS-Deer Valley”), 
Legacy Traditional School – East Tucson (“LTS-East Tucson) and Legacy Traditional School – 
Mesa (“LTS-Mesa”), each of which is an Arizona nonprofit corporation that operates or will 
operate 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 Issuer to the Borrower to 
(a) assist the Obligated Group with (i) financing the costs of acquiring, constructing, improving 
and equipping, as applicable, charter school facilities located at (A) 2747 West Union Hills 
Drive, Phoenix, Arizona, (B) 9290 East Golf Links Road, Tucson, Arizona, and (C) at the 
southeast corner of McKellips Road and Val Vista Drive in Mesa, Arizona (collectively, the 
“Facilities”), for use by the applicable members of the Obligated Group in connection with 
operation of their respective charter school or schools, (ii) financing the costs of acquiring 
additional furniture, fixtures, equipment and related supplies, (iii) financing certain preliminary 
capital expenditures and start-up costs made or to be made in connection with certain of the 
Facilities, and (iv) refinancing some or all of certain indebtedness incurred by the members of 
the Obligated Group to pay operating expenses, (b) fund any required reserve funds, (c) pay 
capitalized interest, if any, on all or a portion of the Bonds, and (d) pay the costs incurred in 
connection with the authorization, issuance and sale of the Bonds;
WHEREAS, on August 11, 2020, the Issuer resolved (the “Issuer’s Resolution”) to issue 
the Bonds, the Issuer’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;

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Board of Supervisors Resolution
WHEREAS, the Issuer’s Resolution has been made available to the Maricopa County 
Board of Supervisors, and the Issuer’s Resolution has been duly considered this date;
WHEREAS, the Issuer’s Resolution authorizes, among other things, the issuance and 
sale of the Bonds, the execution and delivery of a Bond Indenture, 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 Bond Indenture and in the form of the Bonds;
WHEREAS, copies of the documents providing for the issuance of the Bonds have been 
made available to the Maricopa County Board of Supervisors, together with the Issuer’s 
Resolution;
WHEREAS, the Maricopa County Board of Supervisors have been informed that the 
documents have been reviewed by competent Bond Counsel, Engelman Berger, P.C., 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 proceedings of the Issuer 
under which the Bonds are to be issued require the approval of the Maricopa County Board of 
Supervisors for the issuance of the Bonds; 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 Issuer of the Bonds in an aggregate principal amount not to 
exceed $48,000,000 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 Issuer’s Resolution in connection with the issuance of the 
Bonds.

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Board of Supervisors Resolution
ADOPTED AND APPROVED on September 2, 2020.
Chairman, Maricopa County Board of 
Supervisors
ATTEST:
Clerk, Maricopa County Board of Supervisors