CAMELBACK COMMUNITY CHURCH - BOS 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 REFUNDING BONDS (CAMELBACK COMMUNITY 
CHURCH EDUCATIONAL FACILITIES PROJECT), SERIES 2024, IN AN 
AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $5,000,000 
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, the Authority proposes to issue its tax-exempt and/or taxable Revenue 
Refunding Bonds (Camelback Community Church Educational Facilities Project), Series 2024 
(the “Bonds”), in one or more series, in an aggregate principal amount not to exceed $5,000,000, 
for the benefit of Camelback Community Church (the “Borrower”), an Arizona nonprofit 
corporation; 
WHEREAS, the proceeds of the Bonds will be loaned by the Authority to the Borrower to 
(i) refund the outstanding The Industrial Development Authority of the County of Maricopa 
Education Revenue Bonds (Camelback Academy Project) Tax-Exempt Series 2017A Bonds and 
Taxable Series 2017B Bonds, which were used to finance the acquisition, construction, renovation, 
improvement, expansion, and/or equipping of an educational facility which is located at 7634 West 
Camelback Road, Glendale, Arizona (collectively, the "Project"), and (ii) fund any necessary 
reserves, and (iii) pay certain costs of issuance related to the Bonds; 
WHEREAS, the Project is owned by the Borrower and, pursuant to a lease, will continue 
to be operated by Camelback Education Inc., d/b/a Camelback Academy, as a charter school duly 
organized and validly existing under Title 15, Chapter 1, Article 8 of the Arizona Revised Statutes, 
as amended;  
WHEREAS, on April 9, 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 a financing agreement among the Authority, 
the Borrower, and the initial lender (the “Financing Agreement”) and related financing documents, 
as well as other documents 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 Financing Agreement and in the form of the Bonds;

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Board of Supervisors Resolution 
 
WHEREAS, the Maricopa County Board of Supervisors has been informed that the 
documents have been reviewed by competent counsel for the Authority, Squire Patton Boggs (US) 
LLP, and counsel for the Authority has determined that the documents adequately meet the 
requirements of the Act and the Internal Revenue Code of 1986, as amended (the “Code”); 
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, pursuant to Section 147(f) of the Code, the Maricopa County Board of 
Supervisors must approve the issuance of the Bonds after a public hearing following reasonable 
public notice;  
WHEREAS, pursuant to Section 147(f) of the Code, following publication by posting on 
the Authority’s website of a Notice of Public Hearing, a public hearing with respect to the Bonds 
and the location and nature of the Project to be financed was held telephonically by an authorized 
representative of the Authority on March 26, 2024, commencing at 9:00 a.m., MST, via the toll 
free dial-in number of 1-833-220-6615, code 970133 (a copy of the Notice of Public Hearing is 
attached hereto and made a part of this Resolution); 
WHEREAS, a Report of Public Hearing regarding the Public Hearing held on March 26, 
2024, has been presented to and considered by the Maricopa County Board of Supervisors; 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 and Section 147(f) of the Code. 
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 $5,000,000 is approved for all purposes under the Act, including specifically 
Section 35-721.B, and Section 147(b) of the Code. 
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.

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Board of Supervisors Resolution 
 
ADOPTED AND APPROVED on April 24, 2024. 
 
 
 
 
 
 
 
 
Chairman, Maricopa County Board of 
Supervisors 
ATTEST: 
 
 
 
 
 
 
 
Clerk, Maricopa County Board of Supervisors 
 
ATTACHMENT: Notice of Public Hearing

NOTICE OF PUBLIC HEARING 
PUBLIC NOTICE IS HEREBY GIVEN for purposes of Section 147(f) of the Internal Revenue 
Code of 1986, as amended (the “Code”), that a public hearing will be held telephonically by an authorized 
representative of The Industrial Development Authority of the County of Maricopa (the “Issuer”) on March 
26, 2024, commencing at 9:00 a.m., MST, or as soon thereafter as this item may be heard, via the toll free 
dial-in number of 1-833-220-6615, enter code 970133 and press #.  The public hearing is being conducted 
for the purpose of receiving comments and hearing the discussion concerning the proposed issuance by the 
Issuer of its Revenue Refunding Bonds (Camelback Community Church Educational Facilities Project), 
Series 2024 (collectively, the “Bonds”) to be issued in one or more series of tax-exempt qualified 501(c)(3) 
bonds or taxable bonds, pursuant to a plan of finance in a maximum aggregate principal amount of 
$5,000,000 for the Project (as defined below).  
The proceeds of the Bonds will be loaned to Camelback Community Church, an Arizona nonprofit 
corporation (the “Borrower”).  The Borrower will apply the proceeds of the Bonds to: (1) refund the 
outstanding The Industrial Development Authority of the County of Maricopa Education Revenue Bonds 
(Camelback Academy Project) Tax-Exempt Series 2017A Bonds and Taxable Series 2017B Bonds, which 
were used to finance the acquisition, construction, renovation, improvement, expansion, and/or equipping 
of an educational facility owned by the Borrower and used by Camelback Education Inc., d/b/a Camelback 
Academy, which is located at 7634 West Camelback Road, Glendale, Arizona (the “Project”); (2) interest 
on the Bonds; (3) the costs of funding a deposit to a debt service reserve fund, if any; and (4) the issuance 
costs of the Bonds.  The Project financed with the proceeds of the Bonds will be owned and operated by 
the Borrower. 
The principal of, premium, if any, and interest on the Bonds will not constitute a debt or liability 
of the Issuer, Maricopa County, Arizona, the State of Arizona, or any political subdivision of the State of 
Arizona, or a charge against their general credit or any taxing powers, but shall be payable solely from the 
sources provided for in the proceedings pursuant to which the Bonds are issued. 
Any interested person may attend or send written comments and express his or her view with 
respect to the Bonds and the location and nature of the Project to be financed.  Any written comments 
should be submitted to The Industrial Development Authority of the County of Maricopa, 8687 East Via 
de Ventura, Suite 306, Scottsdale, Arizona 85258, Attention:  President, and clearly marked: “Camelback 
Community Church Educational Facilities Project.” Written submissions should be mailed in sufficient 
time to be received before the time of the hearing. 
Date: March 18, 2024 
THE INDUSTRIAL DEVELOPMENT 
AUTHORITY OF THE COUNTY OF MARICOPA