Res 2597 Sale and Issuance of General Obligation Bonds, Series 2025, for the Tolleson Aquatic Center - $21,000,000 03 25 25

706603442 
RESOLUTION NO. 2597 
 
RESOLUTION OF THE MAYOR AND COUNCIL OF CITY OF TOLLESON, ARIZONA, 
(1) PROVIDING FOR THE SALE AND ISSUANCE OF CITY OF TOLLESON, ARIZONA 
GENERAL OBLIGATION BONDS, SERIES 2025 AND FOR THE ANNUAL LEVY OF A 
TAX FOR THE PAYMENT OF THE BONDS; (2) APPROVING THE FORM AND 
AUTHORIZING THE EXECUTION AND DELIVERY OF NECESSARY AGREEMENTS, 
INSTRUMENTS AND DOCUMENTS RELATED TO THE SALE AND ISSUANCE OF THE 
BONDS; (3) DELEGATING AUTHORITY TO THE MAYOR, THE MANAGER AND THE 
CHIEF FINANCIAL OFFICER OF THE CITY OR THEIR DESIGNEES TO DETERMINE 
CERTAIN MATTERS AND TERMS WITH RESPECT TO THE FOREGOING; AND (4) 
AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO 
CONSUMMATE THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION AND 
RATIFYING ALL ACTIONS TAKEN TO FURTHER THIS RESOLUTION. 
WHEREAS, at a special bond election held in and for the City of Tolleson, Arizona (the 
“City”), on November 3, 2020 (the “Election”), there was submitted to the qualified electors 
thereof, among others, the following question: 
PROPOSITION 435 
PURPOSE:  PARKS AND RECREATION 
Shall the City of Tolleson, Arizona (the “City”), be authorized to incur indebtedness in the total 
principal amount of not to exceed $21,000,000 by the issuance and sale of bonds of the City for 
the purpose of providing funds for parks and recreation projects, including the costs to design, 
engineer, acquire, improve, construct, reconstruct, equip, furnish, and expand an aquatic center, 
and other City parks, including, but not limited to, land for a future parks, fields, courts, 
playgrounds, parking, walking paths, landscaping, ramadas, restrooms and all necessary and 
related facilities and equipment, and any and all appurtenances related thereto or land therefor 
by purchase or any other method of acquisition, and to pay all costs incidental to any of the 
foregoing and to the sale and issuance of such bonds or any series thereof, to be issued as general 
obligation bonds of the City, payable from secondary (ad valorem) property taxes levied upon all 
of the taxable property in the City, to mature not more than 25 years from their date and to bear 
interest at a rate of not to exceed 8% per annum? 
The issuance of these bonds will result in a property tax increase sufficient to pay the 
annual debt service on the bonds. 
A “YES” vote shall authorize the governing body of the City to issue and sell 
$21,000,000 of general obligation bonds of the City to be repaid with secondary property taxes. 
A “NO” vote shall not authorize the governing body of the City to issue and sell 
such bonds of the City.

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BOND APPROVAL, YES  
 
BOND APPROVAL, NO  
; and  
WHEREAS, the returns of the Election were duly canvassed by the Mayor and Council of 
the City (the “Council”) and a certificate disclosing the purpose of the Election, the total number 
of votes cast thereat, the total number of votes for and against the issuance of the bonds, and 
stating that the creation of the indebtedness by the issuance of the bonds in accordance with the 
question approved by the qualified electors of the City was ordered has been filed and recorded 
in the office of the County Recorder of Maricopa County, Arizona; and 
WHEREAS, a majority of the qualified electors of the City, voting at the Election voted 
“Bond Approval, Yes,” in answer to such question submitted; and 
WHEREAS, the Council has determined to sell and issue all or a portion of the authorized 
amount of such bonds (the “Bonds”) as general obligation bonds for the purposes granted at the 
Election; and 
WHEREAS, the Council has received a proposal from Stifel Nicolaus & Company, Inc. 
(“Stifel”), serving in the capacity of and designated as the underwriter (the “Underwriter”), and 
not acting as a municipal advisor as defined in the Registration of Municipal Advisors Rule of the 
Securities and Exchange Commission, and has determined that the Bonds should be sold through 
negotiation to the Underwriter on such terms as may hereafter be approved by the Authorized 
Representatives (as defined herein); and 
WHEREAS, all things required to be done preliminary to the authorization, sale and 
issuance of the Bonds have been duly done and performed in the manner required by law, and 
the Council is now empowered to proceed with the sale and issuance of the Bonds; 
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF 
TOLLESON, ARIZONA, as follows: 
Section 1.  Authorization and Terms. 
(a) 
(1) 
The Bonds, to provide funds for the purposes set forth in the above-
mentioned form of ballot question submitted to the qualified electors of the City at the Election, 
are hereby authorized to be sold and issued as a series of bonds of the City to be designated “City 
of Tolleson, Arizona General Obligation Bonds, Series 2025” in accordance with this Resolution 
and applicable law. 
(2) 
The Bonds will constitute a series of bonds of a total authorized amount of 
not to exceed $21,000,000 principal amount of bonds of the City approved by the qualified elec-
tors of the City at the Election and are authorized by the provisions of Title 35, Chapter 3, Article 
3, Arizona Revised Statutes.

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(3) 
The proceeds from the sale of the Bonds shall be credited against the total 
principal amount of bonds and the specific amount of bonds so authorized by the qualified 
electors of the City at the Election and for the purpose and project as set forth in the question on 
the official form of ballot and the proceeds of the Bonds shall be applied to the  purpose and 
project as determined by the Authorized Representatives on behalf of the City. 
(b) 
The Manager, the Chief Financial Officer of the City or the designees of either of 
them (collectively, the “Authorized Representatives”) are hereby authorized and directed to 
determine on behalf of the City:  (1) the dated date and total principal amount of the Bonds (but 
not to exceed $21,000,000 in aggregate principal amount); (2) the final principal and maturity of 
the Bonds (but none of the Bonds to mature later than July 1, 2045); (3) the interest rates with 
respect to the Bonds and the dates for payment of such interest (the “interest payment dates”); 
(4) the provisions for redemption in advance of maturity of the Bonds; (5) the sales date, sales 
price and other sales terms of the Bonds (including underwriter’s compensation, original issue 
discount and original issue premium); and (7) the provision for credit enhancement, if any, for 
the Bonds; provided, however, that such determinations must result in a yield for federal income 
tax purposes with respect to the Bonds of not to exceed five percent (5%) per annum.   
(c) 
(1) 
The Bonds shall be dated the date of their initial authentication and 
delivery and issued in the denomination of $5,000 of principal amount each or integral multiples 
thereof and only in fully registered form. 
(2) 
The principal of and premium, if any, on the Bonds shall be payable at 
maturity or prior redemption upon presentation and surrender thereof at the designated 
corporate trust office of the Bond Registrar and Paying Agent (as defined herein). 
(3) 
The Bonds shall bear interest at their respective rates from their date to 
the maturity or prior redemption of each Bond, payable commencing on the first interest 
payment date.  Interest on the Bonds shall be payable by check, dated as of the interest payment 
date, mailed to the registered owners thereof and at the addresses appearing on the registration 
books maintained by the Bond Registrar and Paying Agent at the close of business on the fifteenth 
(15th) day of the month next preceding that interest payment date (the “regular record date”).  
Any such interest on a Bond which is not timely paid or duly provided for shall cease to be payable 
to the registered owner thereof (or of one or more predecessor Bonds) as of the regular record 
date, and shall be payable to the registered owner thereof (or of one or more predecessor Bonds) 
at the close of business on a special record date for the payment of that overdue interest.  The 
special record date shall be fixed by the Bond Registrar and Paying Agent whenever moneys 
become available for payment of the overdue interest, and notice of the special record date shall 
be given to the registered owners of Bonds not less than ten (10) days prior thereto. 
(4) 
The principal of and premium, if any, and interest on the Bonds shall be 
payable in lawful money of the United States of America.  Notwithstanding anything to the 
contrary herein and as may be set forth in the definitive form of the Bonds, the principal of and

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premium, if any, and interest on the Bonds may be paid by wire transfer in immediately available 
funds if satisfactory arrangements are made. 
Section 2.  Prior Redemption of the Bonds. 
(a) 
Notice of redemption of any Bond shall be mailed by first class mail, postage 
prepaid, not more than sixty (60) nor less than thirty (30) days prior to the date set for 
redemption to the registered owner of the Bond or Bonds being redeemed at the address shown 
on the registration books for the Bonds maintained by the Bond Registrar and Paying Agent.  
Failure to properly give such notice of redemption shall not affect the redemption of any Bond 
for which notice was properly given.  Such notice may provide that the redemption is conditional 
upon moneys for payment of the redemption price being held in separate accounts by the Bond 
Registrar and Paying Agent. 
(b) 
On the date designated for redemption by notice given as herein provided, the 
Bonds or portions thereof to be redeemed shall become and be due and payable at the 
redemption price for such Bonds or such portions thereof on such date, and, if moneys for 
payment of the redemption price are held in separate accounts by the Bond Registrar and Paying 
Agent, interest on such Bonds or such portions thereof shall cease to accrue, such Bonds or such 
portions thereof shall cease to be entitled to any benefit or security hereunder, the registered 
owners of such Bonds or such portions thereof shall have no rights in respect thereof except to 
receive payment of the redemption price thereof and accrued interest thereon and such Bonds 
or such portions thereof shall be deemed paid and no longer outstanding. 
(c) 
The City may redeem any amount which is included in a Bond in the denomination 
in excess of, but divisible by, $5,000.  In that event, the registered owner shall submit the Bond 
for partial redemption and the Bond Registrar and Paying Agent shall make such partial payment 
and shall cause to be issued a new Bond in a principal amount which reflects the redemption so 
made, to be authenticated and delivered to the registered owner thereof. 
Section 3.  Security; Defeasance. 
(a) 
After the Bonds are issued, the Council shall enter on its minutes a record of the 
Bonds sold and their numbers and dates.  For the purpose of paying the principal of, interest on 
and costs of administration of the registration and payment of the Bonds, there shall be levied 
on all the taxable property in the City a continuing, direct, annual, ad valorem tax sufficient to 
pay all such principal, interest and administration costs of and on the Bonds as the same become 
due, such taxes to be levied, assessed and collected at the same time and in the same manner as 
other taxes of the City are levied, assessed and collected.  The tax shall be extended and collected 
for the City, and the officials of the City and Maricopa County, Arizona, charged with the annual 
extension and collection of taxes, without further instructions from the Council, shall extend and 
collect the tax upon issuance of the Bonds.  All moneys collected through such tax shall be paid 
into the treasury of the City, to the credit of a “Debt Service Fund” of the City for the Bonds, from 
which fund the Bonds shall be payable, which tax moneys shall be held in subfunds to be known

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as the “Interest Fund” and the “Redemption Fund,” which funds shall be kept separate and apart 
from and not commingled with any other funds or moneys and which shall be used solely for, 
respectively, payment of interest on and principal of, and premium, if any, on the Bonds. 
(b) 
Any Bond or portion thereof in authorized denominations shall be deemed paid 
and defeased and thereafter shall have no claim on ad valorem taxes levied on taxable property 
in the City (i) if there is deposited with a bank or comparable financial institution, in trust, moneys 
or obligations issued by or guaranteed by the United States government (“Defeasance 
Obligations”) or both which, with the maturing principal of and interest on such Defeasance 
Obligations, if any, will be sufficient, as evidenced by a certificate or report of an accountant, to 
pay the principal of and interest and any premium on such Bond or portion thereof as the same 
matures, comes due or becomes payable upon prior redemption, and (ii) if such defeased Bond 
or portion thereof is to be redeemed, notice of such redemption has been given in accordance 
with provisions hereof or the City has submitted to the Bond Registrar and Paying Agent 
instructions expressed to be irrevocable as to the date upon which such Bond or portion thereof 
is to be redeemed and as to the giving of notice of such redemption.  If the maturing principal of 
the Defeasance Obligations or other moneys, or both, is sufficient to pay the principal of, 
premium, if any, and interest on such Bond or portion thereof as the same matures, comes due 
or becomes payable upon prior redemption, a certificate or report of an accountant shall not be 
required.  Bonds the payment of which has been provided for in accordance with this Section 
shall no longer be deemed payable or outstanding hereunder and thereafter such Bonds shall be 
entitled to payment only from the moneys or Defeasance Obligations deposited to provide for 
the payment of such Bonds. 
Section 4.  Use of Proceeds.  Proceeds of the sale of the Bonds shall be deposited in the 
treasury of the City to the credit of the “Aquatic Center Construction Fund” in the amount 
determined as provided in Section 1(a)(3) hereof, to be used solely for the purposes specified in 
the aforementioned ballot question submitted to the qualified electors of the City at the Election; 
provided, however, that (i) such proceeds may be invested in the manner and under the 
circumstances allowed by law, and (ii) any moneys remaining after such purposes shall have been 
accomplished shall be transferred to the applicable “Interest Fund” and “Redemption Fund” for 
the Bonds in the same fashion as taxes. 
Section 5.  Form of Bonds. 
(a) 
The Bonds (including the form of certificate of authentication and form of 
assignment therefor) shall be in substantially the form set forth in the Exhibits attached hereto.  
There may be such necessary and appropriate omissions, insertions and variations as are 
permitted or required hereby and are approved by those officers executing the Bonds in such 
form.  Execution thereof by such officers shall constitute conclusive evidence of such approval. 
(b) 
The Bonds may have notations, legends or endorsements required by law, 
securities exchange rule or usage. Each Bond shall show both the date of the issue and the date 
of authentication and registration of each Bond.

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(c) 
The Bonds are prohibited from being converted to coupon or bearer bonds 
without the consent of the Council and approval of a nationally recognized bond counsel to the 
City (“Bond Counsel”). 
Section 6.  Execution and Delivery of Bonds. 
(a) 
The Bonds shall be executed for and on behalf of the City by the Mayor of the City 
and attested by the Clerk of the City.  Such signatures may be by mechanical reproduction; 
however, such officers shall manually sign a certificate adopting as and for such signatures on the 
Bonds the respective mechanically reproduced signatures affixed to the Bonds. 
(b) 
If an officer whose signature is on a Bond no longer holds that office at the time 
such Bond is authenticated and registered, the Bond shall nevertheless be valid and binding so 
long as such Bond would otherwise be valid and binding.  
(c) 
A Bond shall not be valid or binding until authenticated by the manual signature 
of an authorized representative of the Bond Registrar and Paying Agent.  The signature of the 
authorized representative of the Bond Registrar and Paying Agent shall be conclusive evidence 
that the Bond has been authenticated and issued pursuant to this Resolution. 
Section 7.  Mutilated, Lost or Destroyed Bonds.  In case any Bond becomes mutilated or 
destroyed or lost, the City shall cause to be executed and delivered a new Bond of like type, date, 
maturity date and tenor in exchange and substitution for and upon the cancellation of such 
mutilated Bond or in lieu of and in substitution for such Bond destroyed or lost, upon the 
registered owner paying the reasonable expenses and charges of the City in connection therewith 
and, in the case of a Bond destroyed or lost, filing with the Bond Registrar and Paying Agent by 
the registered owner evidence satisfactory to the Bond Registrar and Paying Agent that such 
Bond was destroyed or lost, and furnishing the Bond Registrar and Paying Agent with a sufficient 
indemnity bond pursuant to Section 47-8405, Arizona Revised Statutes. 
Section 8.  Acceptance of Proposal.   
(a) 
Subject to the discretion delegated by Section 1(b) hereof, the Authorized 
Representatives are hereby authorized to accept a proposal of the Underwriter for the purchase 
of the Bonds which satisfies the terms and conditions of this Resolution on behalf of the Council, 
and the Bonds are hereby ordered to be sold to the Underwriter in accordance with the terms of 
the Bond Purchase Agreement presented to the Council at the meeting at which this Resolution 
was adopted (the “Purchase Agreement”) and which is hereby approved.  The Authorized 
Representatives are hereby authorized to execute and deliver the Purchase Agreement, for and 
on behalf of the Council, in a final form satisfactory to the Authorized Representatives, and such 
execution and delivery by the Authorized Representatives shall indicate the approval thereof on 
behalf of the Council by the Authorized Representatives.

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(b) 
The Authorized Representatives are hereby requested to cause the Bonds to be 
delivered to the Underwriter upon receipt of payment therefor and satisfaction of the other 
conditions for delivery thereof in accordance with the terms of the sale provided in the Purchase 
Agreement.   
Section 9.  Official Statement and Continuing Disclosure. 
(a) 
(1) 
The preparation, distribution and use of a preliminary official statement 
relating to the Bonds (the “Preliminary Official Statement”) in substantially the form presented 
to the Council at the meeting at which this Resolution was adopted is in all respects hereby 
ratified, approved and confirmed, and the Authorized Representatives are hereby authorized to 
certify or otherwise represent that the Preliminary Official Statement, in original or revised form, 
is a “deemed final” official statement (except for permitted omissions) of the City as of a 
particular date for purposes of Rule 15c2-12 adopted by the Securities and Exchange Commission 
under the Securities Exchange Act of 1934, as amended. 
(2) 
The Underwriter is authorized to prepare or cause to be prepared, and the 
Authorized Representatives are authorized and directed to approve, on behalf of the Council, 
and to execute and deliver, a final Official Statement in substantially the form of the Preliminary 
Official Statement, modified to reflect matters related to the sale of the Bonds, for distribution 
and use in connection with the offering and sale of the Bonds.  The execution and delivery of 
such final Official Statement by any of the Authorized Representatives shall be conclusively 
deemed to evidence the approval of the status, form and contents thereof by the Council. 
(b) 
Subject to annual appropriation to cover the costs of compliance therewith, the 
City shall comply with and carry out all of the provisions of a Continuing Disclosure Undertaking, 
to be dated the date of issuance of the Bonds (the “Undertaking”), with respect to the Bonds, 
which any of the Authorized Representatives are hereby authorized, for and on behalf of the 
Council, to execute, and the Clerk of the City is hereby authorized to attest and deliver, in 
substantially the form submitted to the Council at the meeting at which this Resolution was 
adopted, with such additions, deletions and modifications as shall be approved by the Authorized 
Representatives, and such execution and delivery shall constitute evidence of the approval of the 
Authorized Representatives of any departures from the form submitted to the Council at the time 
of adoption of this Resolution. Notwithstanding any other provision of this Resolution, failure of 
the City (if obligated pursuant to the Undertaking) to comply with the Undertaking shall not be 
considered an event of default; however, any beneficial owner (i.e., any person which (a) has the 
power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, 
any Bonds (including persons holding Bonds through nominees, depositories or other 
intermediaries), or (b) is treated as the owner of any Bonds for federal income tax purposes) may 
take such actions as may be necessary and appropriate, including seeking specific performance 
by court order, to cause the City to comply with its obligations under this Section.

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Section 10.  Bond Registrar and Paying Agent. 
(a) 
The Authorized Representatives are hereby authorized to appoint the initial 
authenticating agent, bond registrar, transfer agent and paying agent with respect to the Bonds 
(the “Bond Registrar and Paying Agent”), and a standard form contract therewith covering such 
services, with such additions, deletions and modifications as shall be approved by the Authorized 
Representatives, is hereby approved, and any of the Authorized Representatives are hereby 
authorized to execute, and the Clerk of the City is hereby authorized to attest and deliver, such 
contract.  The Bond Registrar and Paying Agent shall maintain the books of the City for the 
registration of ownership of each Bond. 
(b) 
A Bond may be transferred on the registration books upon delivery and surrender 
of the Bond to the Bond Registrar and Paying Agent at its designated corporate trust office, 
accompanied by a written instrument of transfer in form and with guaranty of signature 
satisfactory to the Bond Registrar and Paying Agent, duly executed by the registered owner of 
the Bond to be transferred or the attorney-in-fact or legal representative thereof, containing 
written instructions as to the details of the transfer of such Bond.  No transfer of any Bond shall 
be effective until entered on the registration books. 
(c) 
In all cases upon the transfer of a Bond, the Bond Registrar and Paying Agent shall 
enter the transfer of ownership in the registration books and shall authenticate and deliver in the 
name of the transferee or transferees a new fully registered Bond or Bonds of the same type and 
of the authorized denominations (except that no Bond shall be issued which relates to more than 
a single principal maturity) for the aggregate principal amount which the registered owner is 
entitled to receive at the earliest practicable time in accordance with the provisions of this 
Section. 
(d) 
All costs and expenses of initial registration and payment of the Bonds shall be 
borne by the City, but the City and the Bond Registrar and Paying Agent shall charge the 
registered owner of such Bond for every subsequent transfer of a Bond including an amount 
sufficient to reimburse them for any transfer fee, tax or other governmental charge required to 
be paid with respect to such transfer and may require that such charge including for such transfer 
fee, tax or other governmental charge be paid before any such new Bond shall be delivered. 
(e) 
The City and the Bond Registrar and Paying Agent shall not be required to issue or 
transfer any Bonds during a period beginning with the opening of business on any regular record 
date and ending with the close of business on the corresponding interest payment date. 
(f) 
The Bonds shall be subject to a Book-Entry System (as defined herein) of 
ownership and transfer, except as provided in subsection (3) of this subsection.  The general 
provisions for effecting the Book-Entry System are as follows: 
(1) 
The City hereby designates The Depository Trust Company, New York, New 
York, as the initial Depository (as defined herein) hereunder.

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(2) 
Notwithstanding the provisions of this Section or of the Bonds to the 
contrary and so long as the Bonds are subject to a Book-Entry System, the Bonds shall initially be 
evidenced by one typewritten certificate for each maturity in an amount equal to the aggregate 
principal amount thereof.  The Bonds so initially delivered shall be registered in the name of 
“Cede & Co.” as nominee for The Depository Trust Company.  The Bonds may not thereafter be 
transferred or exchanged on the registration books of the City maintained by the Bond Registrar 
and Paying Agent except: 
i. 
to any successor Depository designated pursuant to subsection (3) 
of this subsection; 
ii. 
to any successor nominee designated by a Depository; or 
iii. 
if the City shall elect to discontinue the Book-Entry System 
pursuant to subsection (3) of this subsection, the City shall cause the Bond Registrar and Paying 
Agent to authenticate and deliver replacement Bonds in fully registered form in authorized 
denominations in the names of the Beneficial Owners (as defined herein) or their nominees, as 
certified by the Depository, at the expense of the City; thereafter the other applicable provisions 
of this Resolution regarding registration, transfer and exchange of the Bonds shall apply. 
(3) 
The Bond Registrar and Paying Agent, pursuant to a request from the City 
for the removal or replacement of the Depository, and upon thirty (30) days’ notice to the 
Depository, may remove or replace the Depository.  The Bond Registrar and Paying Agent shall 
remove or replace the Depository at any time pursuant to the request of the City.  The Depository 
may determine not to continue to act as Depository for the Bonds upon thirty (30) days’ written 
notice to the City and the Bond Registrar and Paying Agent.  If the use of the Book-Entry System 
is discontinued, then after the Bond Registrar and Paying Agent has made provision for 
notification of the Beneficial Owners of their book entry interests in the Bonds by appropriate 
notice to the then Depository, the City and the Bond Registrar and Paying Agent shall permit 
withdrawal of the Bonds from the Depository and authenticate and deliver the Bond certificates 
in fully registered form and in denominations authorized by this Section to the assignees of the 
Depository or its nominee.  Such withdrawal, authentication and delivery shall be at the cost and 
expense (including costs of printing or otherwise preparing, and delivering, such replacement 
Bond certificates) of the City. 
(4) 
So long as the Book-Entry System is used for the Bonds, the City and the 
Bond Registrar and Paying Agent shall give any notice of redemption, or any other notices 
required to be given to registered owners of Bonds only to the Depository or its nominee 
registered as the owner thereof.  Any failure of the Depository to advise any of its participants, 
or of any participant to notify the Beneficial Owner, of any such notice and its content or effect 
shall not affect the validity of the redemption of the Bonds to be redeemed or of any other action 
premised on such notice.  Neither the City nor the Bond Registrar and Paying Agent shall be 
responsible or liable for the failure of the Depository or any participant thereof to make any

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payment or give any notice to a Beneficial Owner in respect of the Bonds or any error or delay 
relating thereto. 
(5) 
Notwithstanding any other provision of this Section or Section 2(b) hereof 
or of the Bonds to the contrary, so long as the Bonds are subject to a Book-Entry System, it shall 
not be necessary for the registered owner to present the applicable Bond for payment of 
mandatory redemption installments, if any.  The mandatory redemption installments may be 
noted on books kept by the Bond Registrar and Paying Agent and the Depository for such 
purpose, and the Bonds shall be tendered to the Bond Registrar and Paying Agent at their 
maturity. 
(6) 
For purposes of this Section, “Beneficial Owners” shall mean actual 
purchasers of the Bonds whose ownership interest is evidenced only in the Book-Entry System 
maintained by the Depository, “Book-Entry System” shall mean a system for clearing and 
settlement of securities transactions among participants of a Depository (and other parties 
having custodial relationships with such participants) through electronic or manual book-entry 
changes in accounts of such participants maintained by the Depository hereunder for recording 
ownership of the Bonds by Beneficial Owners and transfers of ownership interests in the Bonds, 
and “Depository” shall mean The Depository Trust Company, New York, New York or any 
successor depository designated pursuant to this Section. 
Section 11.  General Federal Tax Law Covenants. 
(a) 
(1) 
As will be provided in greater detail in the Certificate Relating To Federal 
Tax Matters to be delivered upon the initial delivery of the Bonds (the “Tax Certificate”), the City 
shall not make or direct the making of any investment or other use of the proceeds of any Bonds 
which would cause such Bonds to be “arbitrage bonds” as that term is defined in Section 148 (or 
any successor provision thereto) of the Internal Revenue Code of 1986, as amended (the “Code”), 
or “private activity bonds” as that term is defined in Section 141 (or any successor provision 
thereto) of the Code, and shall comply with the requirements of the Code sections and the 
regulations promulgated thereunder (the “Regulations”) throughout the term of the Bonds.  In 
consideration of the purchase and acceptance of the Bonds by such holders from time to time 
and of retaining such exclusion and as authorized by Title 35, Chapter 3, Article 7, Arizona Revised 
Statutes, the Council covenants, and the appropriate officials of the City are hereby directed, to 
take all action required to maintain such exclusion or to refrain from taking any action prohibited 
by the Code which would adversely affect in any respect such exclusion. 
(2) 
The City shall be the owner of the facilities financed with the proceeds of 
the sale of the Bonds (the “Facilities”) for federal income tax purposes.  Except as otherwise 
advised in a Bond Counsel’s Opinion (as defined herein), the City shall not enter into (i) any 
management or service contract with any entity other than a governmental entity for the 
operation of any portion of the Facilities unless the management or service contract complies 
with the requirements of the Code, the Regulations and any applicable interpretive guidance with 
respect thereto as may control at the time, or (ii) any lease or other arrangement with any entity

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other than a governmental entity that gives such entity special legal entitlements with respect to 
any portion of the Facilities.  Also, the payment of principal and interest with respect to the Bonds 
shall not be guaranteed (in whole or in part) by the United States or any agency or instrumentality 
of the United States.  The proceeds of the Bonds, or amounts treated as proceeds of the Bonds, 
shall not be invested (directly or indirectly) in federally insured deposits or accounts, except to 
the extent such proceeds (i) may be so invested for an initial temporary period until needed for 
the purpose for which the Bonds are being issued, (ii) may be so used in making investments of 
a bona fide debt service fund or (iii) may be invested in obligations issued by the United States 
Treasury.  
(3) 
The procedures and covenants contained in any arbitrage rebate provision 
or separate agreement executed in connection with the issuance of the Bonds (initially Section 
12 hereof) shall be complied with for so long as compliance is necessary in order to maintain the 
exclusion from gross income for federal income tax purposes of interest on the Bonds. 
(b) 
(1) 
The City shall take all necessary and desirable steps, as determined by the 
Council, to comply with the requirements hereunder in order to ensure that interest on the Bonds 
is excluded from gross income for federal income tax purposes under the Code; provided, 
however, compliance with any such requirement shall not be required in the event the City 
receives a Bond Counsel’s Opinion that either (i) compliance with such requirement is not 
required to maintain the exclusion from gross income of interest on the Bonds, or (ii) compliance 
with some other requirement will meet the requirements of the Code.  In the event the City 
receives such a Bond Counsel’s Opinion, this Resolution shall be amended to conform to the 
requirements set forth in such opinion. 
(2) 
If for any reason any requirement hereunder is not complied with, the 
Council shall take all necessary and desirable steps, as determined by the City, to correct such 
noncompliance within a reasonable period of time after such noncompliance is discovered or 
should have been discovered with the exercise of reasonable diligence and the City shall pay any 
required interest or penalty under Regulations Section 1.148-3(h). 
(c) 
The City has adopted post-issuance tax compliance procedures, with which the 
City shall comply. 
Section 12.  Arbitrage Rebate Covenants. 
(a) 
Terms not otherwise defined in Subsection (b) hereof shall have the meanings 
given to them in the Tax Certificate. 
(b) 
The following terms shall have the following meanings: 
“Bond Counsel’s Opinion” shall mean an opinion signed by an attorney or firm of 
attorneys of nationally recognized standing in the field of law relating to municipal bonds 
selected by the City.

12 
“Bond Year” shall mean each one-year period beginning on the day after the 
expiration of the preceding Bond Year.  The first Bond Year shall begin on the date of issue of the 
Bonds and shall end on the date selected by the City, provided that the first Bond Year shall not 
exceed one calendar year.  The last Bond Year shall end on the date of retirement of the last 
Bond. 
“Bond Yield” is as indicated in the Tax Certificate.  Bond Yield shall be recomputed 
if required by Regulations Section 1.148-4(b)(4) or 4(h)(3).  Bond Yield shall mean the discount 
rate that produces a present value equal to the Issue Price of all unconditionally payable 
payments of principal, interest and fees for qualified guarantees within the meaning of 
Regulations Section 1.148-4(f) and amounts reasonably expected to be paid as fees for qualified 
guarantees in connection with the Bonds as determined under Regulations Section 1.148-4(b).  
The present value of all such payments shall be computed as of the date of issue of the Bonds 
and using semiannual compounding on the basis of a 360-day year. 
“Gross Proceeds” shall mean: 
(i) 
any amounts actually or constructively received by the City from 
the sale of the Bonds but excluding amounts used to pay accrued interest on the Bonds within 
one year of the date of issuance of the Bonds; 
(ii) 
transferred proceeds of the Bonds under Regulations Section 
1.148-9; 
(iii) 
any amounts actually or constructively received from investing 
amounts described in (i), (ii) or this (iii); and 
(iv) 
replacement proceeds of the Bonds within the meaning of 
Regulations Section 1.148-1(c).  Replacement proceeds include amounts reasonably expected to 
be used directly or indirectly to pay debt service on the Bonds, pledged amounts where there is 
reasonable assurance that such amounts will be available to pay principal or interest on the 
Bonds in the event the City encounters financial difficulties and other replacement proceeds 
within the meaning of Regulations Section 1.148-1(c)(4).  Whether an amount is Gross Proceeds 
is determined without regard to whether the amount is held in any fund or account. 
“Investment Property” shall mean any security, obligation (other than a tax-
exempt bond within the meaning of Code Section 148(b)(3)(A)), annuity contract or investment-
type property within the meaning of Regulations Section 1.148-1(b). 
“Issue Price” is as indicated in the Tax Certificate and shall be determined as 
provided in Regulations Section 1.148-1(b). 
“Nonpurpose Investment” shall mean any Investment Property acquired with 
Gross Proceeds, and which is not acquired to carry out the governmental purposes of the Bonds.

13 
“Payment” shall mean any payment within the meaning of Regulations Section 
1.148-3(d)(1) with respect to a Nonpurpose Investment. 
“Rebate Requirement” shall mean at any time the excess of the future value of all 
Receipts over the future value of all Payments.  For purposes of calculating the Rebate 
Requirement the Bond Yield shall be used to determine the future value of Receipts and 
Payments in accordance with Regulations Section 1.148-3(c).  The Rebate Requirement is zero 
for any Nonpurpose Investment meeting the requirements of a rebate exception under Section 
148(f)(4) of the Code or Regulations Section 1.148-7. 
“Receipt” shall mean any receipt within the meaning of Regulations Section 
1.148-3(d)(2) with respect to a Nonpurpose Investment. 
“Regulations” shall mean Sections 1.148-1 through 1.148-11 and Section 1.150-1 
of the regulations of the United States Department of the Treasury promulgated under the Code, 
including and any amendments thereto or successor regulations. 
(c) 
The City shall cause the Rebate Requirement to be calculated and shall pay to the 
United States of America: 
(1) 
not later than 60 days after the end of the fifth Bond Year and every fifth 
Bond Year thereafter, an amount which, when added to the future value of all previous rebate 
payments with respect to the Bonds (determined as of such Computation Date), is equal to at 
least 90% of the sum of the Rebate Requirement (determined as of the last day of such Bond 
Year) plus the future value of all previous rebate payments with respect to the Bonds 
(determined as of the last day of such Bond Year); and 
(2) 
not later than 60 days after the retirement of the last Bond, an amount 
equal to 100% of the Rebate Requirement (determined as of the date of retirement of the last 
Bond). 
Each payment required to be made under this Section shall be filed with the Internal Revenue 
Service Center, Ogden, Utah 84201, on or before the date such payment is due, and shall be 
accompanied by IRS Form 8038-T. 
(d) 
No Nonpurpose Investment shall be acquired for an amount in excess of its fair 
market value.  No Nonpurpose Investment shall be sold or otherwise disposed of for an amount 
less than its fair market value. 
(e) 
For purposes of Subsection (d), whether a Nonpurpose Investment has been 
purchased or sold or disposed of for its fair market value shall be determined as follows:

14 
(1) 
The fair market value of a Nonpurpose Investment generally shall be the 
price at which a willing buyer would purchase the Nonpurpose Investment from a willing seller 
in a bona fide arm’s length transaction.  Fair market value shall be determined on the date on 
which a contract to purchase or sell the Nonpurpose Investment becomes binding. 
(2) 
Except as provided in Subsection (f) or (g), a Nonpurpose Investment that 
is not of a type traded on an established securities market, within the meaning of Code Section 
1273, is rebuttably presumed to be acquired or disposed of for a price that is not equal to its fair 
market value. 
(3) 
If a United States Treasury obligation is acquired directly from or sold or 
disposed of directly to the United States Treasury, such acquisition or sale or disposition shall be 
treated as establishing the fair market value of the obligation. 
(f) 
The purchase price of a certificate of deposit that has a fixed interest rate, a fixed 
payment schedule and a substantial penalty for early withdrawal is considered to be its fair 
market value if the yield on the certificate of deposit is not less than: 
(1) 
the yield on reasonably comparable direct obligations of the United States; 
and 
(2) 
the highest yield that is published or posted by the provider to be currently 
available from the provider on reasonably comparable certificates of deposit offered to the 
public. 
(g) 
A guaranteed investment contract shall be considered acquired and disposed of 
for an amount equal to its fair market value if: 
(1) 
A bona fide solicitation in writing for a specified guaranteed investment 
contract, including all material terms, is timely forwarded to all potential providers.  The 
solicitation must include a statement that the submission of a bid is a representation that the 
potential provider did not consult with any other potential provider about its bid, that the bid 
was determined without regard to any other formal or informal agreement that the potential 
provider has with the City or any other person (whether or not in connection with the Bonds), 
and that the bid is not being submitted solely as a courtesy to the City or any other person for 
purposes of satisfying the requirements in the Regulations that the City receive bids from at least 
one reasonably competitive provider and at least three providers that do not have a material 
financial interest in the Bonds. 
(2) 
All potential providers have an equal opportunity to bid, with no potential 
provider having the opportunity to review other bids before providing a bid. 
(3) 
At least three reasonably competitive providers (i.e. having an established 
industry reputation as a competitive provider of the type of investments being purchased) are 
solicited for bids.  At least three bids must be received from providers that have no material

15 
financial interest in the Bonds (e.g., a lead underwriter within 15 days of the issue date of the 
Bonds or a financial advisor with respect to the investment) and at least one of such three bids 
must be from a reasonably competitive provider.  If the City uses an agent to conduct the bidding, 
the agent may not bid. 
(4) 
The highest-yielding guaranteed investment contract for which a 
qualifying bid is made (determined net of broker’s fees) is purchased. 
(5) 
The determination of the terms of the guaranteed investment contract 
takes into account as a significant factor the reasonably expected deposit and drawdown 
schedule for the amounts to be invested. 
(6) 
The terms for the guaranteed investment contract are commercially 
reasonable (i.e. have a legitimate business purpose other than to increase the purchase price or 
reduce the yield of the guaranteed investment contract). 
(7) 
The provider of the investment contract certifies the administrative costs 
(as defined in Regulations Section 1.148-5(e)) that it pays (or expects to pay) to third parties in 
connection with the guaranteed investment contract. 
(8) 
The City retains until three years after the last outstanding Bond is retired, 
(i) a copy of the guaranteed investment contract, (ii) a receipt or other record of the amount 
actually paid for the guaranteed investment contract, including any administrative costs paid by 
the City and a copy of the provider’s certification described in (7) above, (iii) the name of the 
person and entity submitting each bid, the time and date of the bid, and the bid results and 
(iv) the bid solicitation form and, if the terms of the guaranteed investment contract deviates 
from the bid solicitation form or a submitted bid is modified, a brief statement explaining the 
deviation and stating the purpose of the deviation. 
(h) 
The employment of such experts and consultants to make, as necessary, any 
calculations in respect of rebates to be made to the United States of America in accordance with 
Section 148(f) of the Code is hereby authorized. 
Section 13.  Resolution a Contract; Severability; Ratification of Actions. 
(a) 
This Resolution shall constitute a contract between the City and the registered 
owners of the Bonds and shall not be repealed or amended in any manner which would impair, 
impede or lessen the rights of the registered owners of the Bonds then outstanding. 
(b) 
If any section, paragraph, subdivision, sentence, clause or phrase of this 
Resolution is for any reason held to be illegal or unenforceable, such decision will not affect the 
validity of the remaining portions of this Resolution.  The Council hereby declares that it would 
have adopted this Resolution and each and every other section, paragraph, subdivision, 
sentence, clause or phrase hereof, and authorized the issuance of the Bonds pursuant hereto,

16 
irrespective of the fact that any one or more sections, paragraphs, subdivisions, sentences, 
clauses or phrases of this Resolution may be held illegal, invalid or unenforceable. 
(c) 
All actions of the officers, employees and agents of the City including the Council 
which conform to the purposes and intent of this Resolution and which further the sale and 
issuance of the Bonds as contemplated by this Resolution, including retention of consultants and 
counsel necessary to carry out the purposes of this Resolution whether taken before or after 
adoption of this Resolution, are hereby ratified, confirmed and approved,.  The proper officers 
and agents of the City are hereby authorized and directed to do all such acts and things and to 
execute and deliver all such documents on behalf of the City as may be necessary to carry out 
the terms and intent of this Resolution. 
(d) 
All acts and conditions necessary to be performed by the City or to have been met 
precedent to and in the issuing of the Bonds in order to make them legal, valid and binding 
general obligations of the City will at the time of delivery of the Bonds have been performed and 
have been met, in regular and due form as required by law, and no statutory, charter or 
constitutional limitation of indebtedness or taxation will have been exceeded in the issuance of 
the Bonds. 
(e) 
All formal actions of the Council concerning and relating to the passage of this 
Resolution were taken in an open meeting of the Council, and all deliberations of the Council and 
of any committees that resulted in those formal actions were in meetings open to the public, in 
compliance with all legal requirements. 
PASSED AND ADOPTED by the Mayor and Council of the City of Tolleson, Arizona, on this 
25th day of March, 2025. 
 
 
 
 
 
 
 
 
 
Juan F. Rodriguez, Mayor 
 
 
ATTEST:  
 
 
 
 
 
 
 
Crystal Zamora, City Clerk 
 
 
APPROVED AS TO FORM:  
 
 
 
 
 
 
 
Justin Pierce, City Attorney

Exhibit-1 
EXHIBIT 1 
 
[FORM OF BOND] 
 
UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY 
TRUST COMPANY (“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, 
EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. 
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND 
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN 
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR 
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED 
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.* 
 
REGISTERED 
REGISTERED 
NO. ............... 
$....................... 
 
UNITED STATES OF AMERICA 
STATE OF ARIZONA 
 
CITY OF TOLLESON, ARIZONA 
GENERAL OBLIGATION BOND,  
SERIES 2025 
 
 
Interest Rate: 
Maturity Date: 
Dated: 
CUSIP: 
..................% 
July 1, ........ 
...................., 2025 
889498 .... 
 
 
REGISTERED OWNER: CEDE & CO.* 
 
PRINCIPAL AMOUNT: ........................................................................................ DOLLARS 
 
THE CITY OF TOLLESON, ARIZONA, a body politic and corporate, duly incorporated 
and existing pursuant to the laws of the State of Arizona (the “City”), for value received, hereby 
promises to pay to the aforesaid registered owner, or registered assigns, the aforesaid principal 
amount on the aforesaid maturity date unless earlier redeemed and then on the applicable 
redemption date, and to pay interest on the principal amount from the date this Bond is dated, 
at the aforesaid interest rate (computed on the basis of a 360-day year of twelve 30-day months) 
on each January 1 and July 1 (each an “interest payment date”), commencing ......................, 
........., to its maturity or its redemption prior to maturity.  The principal of and  
 
* Insert only while The Depository Trust Company, New York, New York, is the Securities 
Depository.

Exhibit-2 
premium, if any, on this Bond are payable upon presentation and surrender hereof at the 
designated corporate trust office of ..........................................................., as the “Bond Registrar 
and Paying Agent.”  Interest on this Bond is payable by check, dated as of the interest payment 
date, mailed to the registered owner hereof and at the address appearing on the registration 
books maintained by the Bond Registrar and Paying Agent at the close of business on the 15th 
day of the month next preceding that interest payment date (the “regular record date”).  Any 
such interest which is not timely paid or duly provided for shall cease to be payable to the 
registered owner hereof (or of one or more predecessor Bonds) as of the regular record date and 
shall be payable to the registered owner hereof (or of one or more predecessor Bonds) at the 
close of business on a special record date for the payment of that overdue interest.  The special 
record date shall be fixed by the Bond Registrar and Paying Agent whenever moneys become 
available for payment of the overdue interest, and notice of the special record date shall be given 
to the registered owner of this Bond not less than 10 days prior thereto. 
The principal of and interest and premium, if any, on this Bond are payable in 
lawful money of the United States of America, on the respective dates when principal and 
interest become due. 
This Bond is one of a series of bonds (the “Bonds”) indicated above in the 
aggregate principal amount of $..........,000 of like tenor except as to amount, maturity date, rate 
of interest and number.  The Bonds represent an aggregate voted amount of $21,000,000 
principal amount approved at a special bond election duly called and held in and for the City on 
November 3, 2020. The Bonds are being issued by the City pursuant to a resolution of the Mayor 
and Council of the City, duly adopted prior to the issuance hereof, all of the terms of which are 
hereby incorporated herein (the “Resolution”), and pursuant to the Constitution and laws of the 
State of Arizona relative to the sale and issuance of general obligation bonds of municipalities 
and all amendments thereto, and all other laws of the State of Arizona thereunto enabling.   
For the purpose of paying the principal of, interest on and costs of administration 
of the registration and payment of this Bond, there shall be levied on all taxable property in the 
City a continuing, direct, annual, ad valorem tax sufficient to pay all such principal, interest and 
administration costs of and on this Bond as the same become due, such taxes to be levied, 
assessed and collected at the same time and in the same manner as other taxes of the City are 
levied, assessed and collected.   
The Bonds maturing before and on July 1, ...., are not subject to redemption prior 
to maturity.  The Bonds maturing on and after July 1, ...., are subject to redemption prior to 
maturity, in whole or in part, on July 1, ...., or any date thereafter, by the payment of a 
redemption price equal to the principal amount of each such Bond redeemed plus interest 
accrued to the date fixed for redemption plus a premium (calculated as a percentage of the 
principal amount of such Bonds to be redeemed) to be computed as follows:

Exhibit-3 
Redemption Dates 
Premium 
July 1, ...., and January 1, .... 
....% 
July 1, ...., and January 1, .... 
.... 
July 1, ...., and thereafter 
0.0 
The Bonds maturing on July 1, ...., shall be redeemed prior to maturity on July 1, 
in the years and amounts set forth below, by payment of the principal amount of each Bond to 
be redeemed plus interest accrued to the date fixed for redemption, but without a premium: 
Year 
Amount 
 
$       
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
A remaining principal amount of $.....,000 of Bonds maturing on July 1, ...., shall mature on July 
1, ..... 
Not more than seventy-five (75) nor less than sixty (60) days prior to the 
mandatory redemption date for the Bonds maturing on July 1, ...., the Bond Registrar and Paying 
Agent shall proceed to select for redemption (by lot in such manner as the Bond Registrar and 
Paying Agent may determine) from all the Bonds maturing on July 1, ...., outstanding a principal 
amount of the Bonds maturing on July 1, ...., equal to the aggregate principal amount of the 
Bonds maturing on July 1, ...., to be redeemed and shall redeem such Bonds maturing on July 1, 
...., on the next July 1 and give notice of such redemption. 
Notice of redemption of any such Bond will be mailed not more than sixty (60) nor 
less than thirty (30) days prior to the date set for redemption to the registered owner of such 
Bond or Bonds being redeemed at the address shown on the registration books for the Bonds 
maintained by the Bond Registrar and Paying Agent.  Failure to properly give such notice of 
redemption shall not affect the redemption of any such Bond for which notice was properly given. 
The Bond Registrar and Paying Agent shall maintain the registration books of the 
City for the registration of ownership of each Bond as provided in the Resolution.  (The Bond 
Registrar and Paying Agent may be changed without notice or consent.)

Exhibit-4 
This Bond may be transferred on the registration books upon delivery and 
surrender hereof to the Bond Registrar and Paying Agent at its designated corporate trust office, 
accompanied by a written instrument of transfer in form and with guaranty of signature 
satisfactory to the Bond Registrar and Paying Agent, duly executed by the registered owner of 
this Bond or his or her attorney-in-fact or legal representative, containing written instructions as 
to the details of the transfer.  No transfer of this Bond shall be effective until entered on the 
registration books. 
In all cases upon the transfer of this Bond, the Bond Registrar and Paying Agent 
shall transfer the ownership in the registration books and shall authenticate and deliver in the 
name of the transferee or transferees a new fully registered Bond or Bonds of authorized 
denominations (except that no Bond shall be issued which relates to more than a single principal 
maturity) for the aggregate principal amount which the registered owner is entitled to receive at 
the earliest practicable time in accordance with the provisions of the Resolution.  The City and 
the Bond Registrar and Paying Agent shall charge the owner of such Bond for every transfer of a 
Bond, including an amount sufficient to reimburse them for any transfer fee, tax or other charge 
required to be paid with respect to such transfer and may require that such charge, including 
such transfer fee, tax or other charge be paid before any such new Bond shall be delivered. 
The City and the Bond Registrar and Paying Agent shall not be required to issue or 
transfer any Bonds during a period beginning with the opening of business on any regular record 
date and ending with the close of business on the corresponding interest payment date. 
This Bond shall not be entitled to any security or benefit under the Resolution or 
be valid or become obligatory for any purpose until the certificate of authentication hereon shall 
have been signed by the Bond Registrar and Paying Agent. 
Pursuant to the Resolution, payment of all or any part of the Bonds may be 
provided for by the irrevocable deposit, in trust, of moneys or obligations issued or guaranteed 
by the United States government (“Defeasance Obligations”) or both, which, with the maturing 
principal of and interest on such Defeasance Obligations, if any, will be sufficient, as evidenced 
by a certificate or report of an accountant, to pay the principal or redemption price of and interest 
on such Bonds.  Any Bonds so provided for will no longer be outstanding under the Resolution or 
payable from ad valorem taxes on taxable property in the City, and the owners of such Bonds 
shall thereafter be entitled to payment only from the moneys and Defeasance Obligations 
deposited in trust. 
It is hereby certified, recited and declared (i) that all conditions, acts and things 
required by the Constitution and laws of the State of Arizona to happen, to be done, to exist and 
to be performed precedent to and in the issuance of this Bond and of the series of which it is one, 
have happened, have been done, do exist and have been performed in regular and due form and 
time as required by law, (ii) that the obligation evidenced by the series of Bonds of which this is 
one, together with all other existing indebtedness of the City, does not exceed any applicable 
constitutional or statutory limitation, and (iii) that due provision has been made for the levy and

Exhibit-5 
collection of a direct, annual, ad valorem tax upon taxable property within the City, over and 
above all other taxes authorized or limited by law, sufficient to pay the principal hereof and the 
interest hereon as each becomes due. 
IN WITNESS WHEREOF, THE CITY OF TOLLESON, ARIZONA, has caused this Bond to be 
executed in the name of the City by the facsimile signature of the Mayor of the City and such 
signature of the Mayor of the City to be attested by the facsimile signature of the Clerk of the 
City. 
CITY OF TOLLESON, ARIZONA 
 
 
 
 
 
 
 
 
 
Juan F. Rodriguez, Mayor 
 
 
ATTEST:  
 
 
 
 
 
 
 
Crystal Zamora, City Clerk 
 
 
 
 
[FORM OF CERTIFICATE OF AUTHENTICATION] 
 
CERTIFICATE OF AUTHENTICATION 
This Bond is one of the Bonds described in the within-mentioned Resolution and 
is one of the City of Tolleson, Arizona General Obligation Bonds, Series 2025. 
Date of Authentication:  ......................................... 
 
.................................................................................., 
as Bond Registrar and Paying Agent 
 
 
 
 
By............................................................................... 
     Authorized Representative

Exhibit-6 
[FORM OF ASSIGNMENT] 
 
ASSIGNMENT 
 
For value received, the undersigned sells, assigns and transfers unto 
................................................... the within Bond and irrevocably constitutes and appoints 
............................................................. attorney to transfer this Bond on the books kept for 
registration thereof, with full power of substitution in the premises. 
 
 
Dated:  ............................................... 
.............................................................................. 
Signature 
 
Signature Guaranteed: 
 
 
........................................................... 
.............................................................................. 
[Insert proper legend] 
Signature 
Notice: 
The assignor’s signature to this assignment must 
correspond with the name as it appears upon 
the face of the within Bond in every particular, 
without alteration or any change whatsoever. 
The following abbreviations, when used in the inscription on the face of the within Bond, shall be 
construed as though they were written out in full according to applicable laws or regulations. 
TEN COM 
- 
as tenants in common 
TEN ENT 
- 
as tenants by the entireties 
JT TEN 
- 
as joint tenants with right 
of survivorship and not as 
tenants in common 
UNIF GIFT/TRANS MIN ACT - ..........................    Custodian ........................ 
(Cust)                                  (Minor) 
under Uniform Gifts/Transfers to Minors Act ................................................... 
(State) 
Additional abbreviations may also be used though not included in the above list 
 
ALL FEES AND COSTS OF TRANSFER 
SHALL BE PAID BY THE TRANSFEROR

CERTIFICATION 
I hereby certify that the foregoing Resolution No. 2597 was duly passed and 
adopted by the Mayor and the Council of the City of Tolleson, Arizona, at a regular meeting held 
on the 25th day of March 2025, and the vote was ........ ayes and ........ nays and that the Mayor 
and ........ Councilmembers were present thereat. 
 
 
 
................................................................................... 
Crystal Zamora, City Clerk, City of Tolleson, Arizona