A_FORM - RESOLUTION - MARICOPA COUNTY LINE OF CREDIT (COUNTY) - 2026.PDF

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RESOLUTION AGENDA ITEM # C-43-26-067-X-00 
A RESOLUTION OF THE BOARD OF SUPERVISORS OF MARICOPA COUNTY, 
ARIZONA APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND 
DELIVERY OF A LINE OF CREDIT AGREEMENT AND LETTER OF CREDIT BETWEEN 
MARICOPA COUNTY AND JPMORGAN CHASE BANK, N.A.; RATIFYING ALL ACTIONS 
TAKEN TO DATE WITH RESPECT TO THE LINE OF CREDIT AGREEMENTS. 
RECITALS 
WHEREAS, Maricopa County, Arizona (the “County”) through its Board of Supervisors 
(the “Supervisors”), acting as the Board of Deposit (the “Board of Deposit”), has heretofore 
ordered the receipt of bids for a servicing bank for the County for the period commencing July 1, 
2026 and ending June 30, 2029, with permitted extensions of the two additional years pursuant to 
A.R.S. § 35-325; and 
WHEREAS, included in the proposals for servicing bank were proposals for a line of 
credit for the County and each individual political subdivision of the state for which the County 
Treasurer acts as treasurer pursuant to A.R.S. § 11-604.01; and 
WHEREAS, the proposal of JPMorgan Chase Bank, N.A. (the “Bank”) was announced as 
the best bid for services as servicing bank and the best bid to provide the County and political 
subdivisions of the State for which the County Treasurer acts as treasurer with lines of credit for 
the period commencing July 1, 2026 and ending June 30, 2029, with permitted extensions of not 
more than two additional years; and 
WHEREAS, A.R.S. §§ 11-604.01 et. seq., authorizes the Supervisors of the County to 
enter into line of credit agreements for the County and each individual subdivision of the state for 
which the County acts as treasurer; and 
WHEREAS, a draft of the Business Loan Agreement (Maricopa County Revolving Line 
of Credit) between the County and the Bank pertaining to a line of credit for the County only and 
to be evidenced by a promissory note (upon execution and inclusive of the referenced promissory 
note, the “Agreement”), and not to be construed as the line of credit for other political subdivisions, 
has been placed on file with the Clerk of this Board and presented at the meeting at which this 
Resolution was adopted; and 
WHEREAS, by this Resolution the Supervisors will authorize the execution and delivery 
of the Agreement in substantially the form so presented to this Board of Supervisors, subject to 
the approval of the Maricopa Deputy County Attorney, as assigned counsel. 
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF 
MARICOPA COUNTY, ARIZONA, ACTING AS THE BOARD OF DEPOSIT OF 
MARICOPA COUNTY, ARIZONA AND AS FOLLOWS: 
Section 1.  That the Agreement, in substantially the form on file with the Clerk is approved 
and the Chair of this Board of Supervisors and the Treasurer of the County are authorized and 
directed to revise, if necessary, and to execute and deliver the Agreement, the Promissory Note

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and the Letter of Credit and Reimbursement Agreement, as a part thereof, in substantially the 
forms on file with the Clerk with such changes or omissions deemed necessary by the Maricopa 
Deputy County Attorney and those authorized to execute the Agreement, the Promissory Note and 
the Letter of Credit and the Reimbursement Agreement. 
Section 2.  The County Treasurer is named as the County’s agent for all purposes of the 
Agreement. The County Treasurer is authorized to take all acts and do all things on behalf of the 
County, including, with limitation, requesting amendments to the Commitment Amount Cap under 
the Agreement, provided that the Commitment Amount Cap shall not be increased to an amount 
which exceeds $35,000,000. 
Section 3.  All actions taken by the County Treasurer or any person representing the 
County Treasurer with respect to the Agreement and the procedures pertaining thereto are hereby 
ratified and affirmed. This resolution shall become effective upon adoption and execution. 
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PASSED, ADOPTED AND APPROVED by the Maricopa County Board of Supervisors on this 
_____ of ___________, 2026. 
 
 
 
By: 
 
      Chair, Board of Supervisors 
 
ATTEST: 
 
 
Clerk of the Board of Supervisors 
APPROVED AS TO FORM AND  
WITHIN THE POWERS AND 
AUTHORITY OF MARICOPA COUNTY: 
 
 
Deputy County Attorney