TEMPE GO AND GO REF 2026 - BOND ORDINANCE.DOCX

720223069
ORDINANCE NO. O2026.15
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF 
TEMPE, ARIZONA (1) PROVIDING FOR THE SALE AND 
ISSUANCE OF CITY OF TEMPE, ARIZONA GENERAL 
OBLIGATION BONDS AND GENERAL OBLIGATION 
REFUNDING BONDS, IN ONE OR MORE SERIES, 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 
CITY MANAGER, THE DEPUTY CITY MANAGER/CHIEF 
FINANCIAL 
OFFICER 
OF 
THE 
CITY 
AND 
THE 
FINANCIAL SERVICES DIRECTOR OF THE CITY TO 
DETERMINE CERTAIN MATTERS AND TERMS WITH 
RESPECT TO THE FOREGOING AS WELL AS CERTAIN 
MATTERS WITH RESPECT TO CERTAIN BONDS BEING 
REFUNDED WITH THE PROCEEDS OF THE SALE OF 
THE BONDS; AND (4) AUTHORIZING THE TAKING OF 
ALL OTHER ACTIONS NECESSARY TO CONSUMMATE 
THE 
TRANSACTIONS 
CONTEMPLATED 
BY 
THIS 
ORDINANCE AND RATIFYING ALL ACTIONS TAKEN TO 
FURTHER THIS ORDINANCE
WHEREAS, at special bond elections held in and for the City of Tempe, Arizona 
(the “City”), on November 8, 2016, November 3, 2020, and November 5, 2024 (collectively, the 
“Elections”), the issuance of general obligation bonds by the City was approved by the qualified 
electors of the City; and
WHEREAS, the Mayor and Council of the City (the “Council”) have determined 
to sell and issue a portion of the authorized amount of such bonds (the “New Money Bonds”) as 
general obligation bonds for the purposes granted at the Elections; and
WHEREAS, the Council has also determined that it is expedient to refund certain 
outstanding general obligation and/or general obligation refunding bonds of the City (collectively, 
the “Bonds Being Refunded”) and that the sale and issuance of certain general obligation refunding 
bonds by the City (the “Refunding Bonds” and, collectively with the New Money Bonds, the 
“Bonds”) and the application of the net proceeds thereof to pay at maturity or earlier redemption 
the Bonds Being Refunded is necessary and advisable and in the best interests of the City and shall 
result in a present value debt service savings, net of all costs associated with the Refunding Bonds, 
of not less than two percent (2%) of the principal amount of the Bonds Being Refunded; and
WHEREAS, the total aggregate of taxes levied to pay principal of and interest on 
the Refunding Bonds in the aggregate shall not exceed the total aggregate principal and interest to

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Ordinance No. O2026.15
become due on the Bonds Being Refunded from the date of issuance of the Refunding Bonds to 
the final date of maturity of the Bonds Being Refunded; and
WHEREAS, the Council will receive a proposal from RBC Capital Markets, LLC, 
serving in the capacity of and designated as the underwriter (the “Underwriter”), 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 ORDAINED BY THE CITY COUNCIL OF THE 
CITY OF TEMPE, ARIZONA, AS FOLLOWS:
Section 1.  Authorization and Terms.
(a)
(1)
The New Money Bonds, to provide funds for the purposes 
set forth in the ballot questions submitted to the qualified electors of the City at the Elections, are 
hereby authorized to be sold and issued as one or more series of bonds of the City to be designated 
as provided in this ordinance (this “Ordinance”) and in accordance with applicable law.  
(2)
The New Money Bonds are authorized by the provisions of 
Title 35, Chapter 3, Article 3, Arizona Revised Statutes.  The proceeds from the sale of the New 
Money 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 Elections and for each respective 
purpose and project as set forth in the applicable ballot questions, and the proceeds of the New 
Money Bonds shall be applied to each respective purpose and project as determined by the 
Authorized Representatives on behalf of the City.
(3)
The Refunding Bonds, to provide funds for the refunding of 
the Bonds Being Refunded, are hereby authorized to be sold and issued as one or more series of 
bonds of the City to be designated as provided in this Ordinance and in accordance with applicable 
law.
(4)
The Refunding Bonds are authorized by the provisions of 
Title 35, Chapter 3, Article 4, Arizona Revised Statutes, and the proceeds from the sale thereof 
shall be applied as hereinafter provided.
(b)
The City Manager, the Deputy City Manager/Chief Financial 
Officer of the City, the Financial Services Director of the City or the designees of any of them 
(collectively, the “Authorized Representatives”) are hereby authorized and directed to determine 
on behalf of the City: (1) the series name and designation of each series of the Bonds; (2) whether 
the interest income on each series of the Bonds will be excluded from gross income for federal 
income tax purposes; (3) the total principal amount of each series of the Bonds (but not to exceed 
with respect to the New Money Bonds an amount necessary to provide $236,000,000 for financing 
the costs of the projects to be financed with proceeds of the New Money Bonds plus the amount

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Ordinance No. O2026.15
necessary to pay the costs of issuance of the New Money Bonds) and the amounts of the New 
Money Bonds to be allocated to each of the purposes authorized by the Elections; (4) the final 
principal and maturity schedules of each series of the Bonds (but none of the Bonds to mature later 
than July 1, 2046); (5) the interest rates with respect to each series of the Bonds (but none of the 
New Money Bonds to bear interest at a rate exceeding six percent (6%) per annum) and the dates 
for payment of such interest (the “interest payment dates”); (6) the provisions for redemption in 
advance of maturity of the Bonds; (7) whether the Bonds shall be issued in one or more series, and 
what modifications to the documents executed and delivered in connection with the issuance of 
the Bonds may be necessary based on such determination; (8) the series designation and principal 
and maturity schedules for the Bonds Being Refunded and the determination of the exercise of 
redemption provisions for the Bonds Being Refunded; and (9) the sales date, sales price and other 
sales terms of the Bonds (including underwriter’s compensation, original issue discount and 
original issue premium); provided, however, that such determinations must result in a present value 
debt service savings, net of all costs associated with the Refunding Bonds, of not less than two 
percent (2%) of the principal amount of the Bonds Being Refunded if the Refunding Bonds are 
issued.
(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 premium, if any, and interest on the Bonds may be paid by wire transfer in 
immediately available funds if satisfactory arrangements are made.

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Ordinance No. O2026.15
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; provided, however, that the total 
aggregate of taxes levied to pay principal and interest on the Refunding Bonds in the aggregate 
shall not exceed the total aggregate principal and interest to become due on the Bonds Being 
Refunded from the date of issuance of the Refunding Bonds to the final date of maturity of the 
Bonds Being Refunded.  Subject to such limitation as to the Refunding Bonds (but without 
limitation as to the New Money Bonds), 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 funds shall be kept separate and apart from and not commingled

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Ordinance No. O2026.15
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)
As provided in Section 4(b) hereof, the net proceeds of the sale of 
the Refunding Bonds shall be deposited in the hereinafter defined Trust or invested in obligations 
issued by or guaranteed by the United States government (“Government Obligations”), so long as 
such Government Obligations shall mature with interest so as to provide funds to pay at maturity 
or upon earlier redemption the Bonds Being Refunded together with interest thereon and 
redemption premiums, if any, and such proceeds or Government Obligations shall, and other funds 
legally available for such purpose as determined by the City may, be deposited in respective 
principal and interest redemption funds and shall be held in trust (the “Trust”) by the bond registrar 
and paying agent for the Bonds Being Refunded or by the hereinafter defined Escrow Trustee for 
the payment of the Bonds Being Refunded with interest and redemption premiums, if any, at 
maturity or upon redemption.  The owners of the Refunding Bonds shall rely upon the sufficiency 
of the funds or Government Obligations held in the Trust for the payment of the Bonds Being 
Refunded.  The issuance of the Refunding Bonds shall in no way infringe upon the rights of the 
owners of the Bonds Being Refunded to rely upon a tax levy for the payment of principal and 
interest on the Bonds Being Refunded if the moneys or investments in the Trust prove insufficient.
(c)
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.  
(a)
Proceeds of the sale of the New Money Bonds shall be deposited in 
the treasury of the City to the credit of various capital improvement project funds in the amounts 
determined as provided in Section 1(a)(2) hereof, to be used solely for the purposes specified in 
the ballot questions submitted to the qualified electors of the City at the Elections; provided, 
however, that (i) such proceeds may be invested in the manner and under the circumstances

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Ordinance No. O2026.15
allowed by law, and (ii) any moneys remaining after such purposes shall have been accomplished 
shall be transferred to the Debt Service Fund in the same fashion as taxes for payment of debt 
service with respect to the New Money Bonds.
(b)
Proceeds of the sale of the Refunding Bonds shall be applied, along 
with the moneys, if any, determined by the City, to be transferred from the interest and redemption 
funds for the Bonds Being Refunded, to create the Trust, which shall be an irrevocable trust for 
the benefit of the owners of the Refunding Bonds.  As provided in Section 3(b) hereof, amounts 
credited to the Trust, other than any beginning cash balance, may, as determined by the City, be 
invested immediately in Government Obligations, the maturing principal of and interest on which, 
together with any beginning cash balance, are to be sufficient to pay the principal of and premium, 
if any, and interest on the Bonds Being Refunded as the same become due.  Any balance of the net 
proceeds of the Refunding Bonds remaining after creation of the Trust shall be transferred to the 
Debt Service Fund in the same fashion as taxes for payment of debt service with respect to the 
Refunding Bonds.
(c)
The Authorized Representatives are hereby authorized to enter into, 
if necessary, a standard form contract (the “Escrow Trust Agreement”) with a national banking 
association authorized to do trust business in the State of Arizona appointed by the Authorized 
Representatives (the “Escrow Trustee”), with respect to the safekeeping and handling of moneys 
and Government Obligations to be held in the Trust for the payment of the Bonds Being Refunded, 
with such additions, deletions and modifications as shall be approved by the Authorized 
Representatives.  The Council hereby orders that the Bonds Being Refunded be redeemed on the 
respective redemption dates determined as provided in Section 1(b) hereof.  All actions to refund 
the Bonds Being Refunded whether taken before or after adoption of this Ordinance are ratified, 
confirmed and approved, as applicable.
Section 5.  Form of Bonds.
(a)
The New Money Bonds and the Refunding Bonds (including, in 
each case, the form of certificate of authentication and form of assignment therefor) shall be in 
substantially the form set forth in Exhibit A and Exhibit B attached hereto, respectively.  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.
(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 municipal bond 
counsel to the City.

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Ordinance No. O2026.15
Section 6.  Execution and Delivery of Bonds.
(a)
The New Money Bonds shall be executed for and on behalf of the 
City by the Mayor of the City or the Vice Mayor of the City (if the Mayor is unavailable) and 
attested by the City Clerk or the Deputy City Clerk.  The Refunding Bonds shall be executed for 
and on behalf of the City by the Mayor of the City or the Vice Mayor of the City (if the Mayor is 
unavailable), attested by the City Clerk or the Deputy City Clerk and countersigned by the Deputy 
City Manager/Chief Financial Officer 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 Ordinance.
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 series, 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 Ordinance on behalf of the 
Council, and the Bonds are hereby ordered to be sold to the Underwriter in accordance with the 
terms of a Bond Purchase Agreement (the “Purchase Agreement”) with the Underwriter, in 
substantially the same form as that used in connection with the sale of the City’s General 
Obligation Bonds, Series 2025 (the “2025 Bonds”) and with such changes as are approved by the 
Authorized Representatives.  Any of the Authorized Representatives are hereby authorized to 
execute 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.
(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

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Ordinance No. O2026.15
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 
same form as that used in connection with the sale of the 2025 Bonds 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 City Clerk or the Deputy City Clerk are hereby authorized to attest 
and deliver, in substantially the form submitted to the Council at the meeting at which this 
Ordinance 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 Ordinance. Notwithstanding any other provision of this 
Ordinance, 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.
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

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Ordinance No. O2026.15
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 City Clerk or the Deputy City Clerk are 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 
as the initial Depository (as defined herein) hereunder.
(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

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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:
(a)
to any successor Depository designated pursuant to 
subsection (3) of this subsection;
(b)
to any successor nominee designated by a 
Depository; or
(c)
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 Ordinance 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 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

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Ordinance No. O2026.15
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 or any successor depository designated pursuant to this Section.
Section 11.  General Federal Tax Law Covenants.
(a)
(1)
The City shall execute and deliver on the date of original 
issuance of the Bonds a Certificate Relating To Federal Tax Matters (the “Tax Certificate”) and 
comply with the provisions thereof and of this Section 11 only with respect to those of the Bonds 
that are sold such that the interest income with respect thereto is excluded from gross income for 
federal income tax purposes.  References to the Bonds in this Section 11 are to such Bonds.  As 
will be provided in greater detail in 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 or 
refinanced 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 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

12
Ordinance No. O2026.15
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 Ordinance 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.  The City shall comply with the 
provisions of this Section 12 only with respect to those of the Bonds that are sold such that the 
interest income with respect thereto is excluded from gross income for federal income tax 
purposes.  References to the Bonds in this Section 12 are to such Bonds.
(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.
“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

13
Ordinance No. O2026.15
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.
“Payment” shall mean any payment within the meaning of Regulations 
Section 1.148-3(d)(1) with respect to a Nonpurpose Investment.

14
Ordinance No. O2026.15
“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:
(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.

15
Ordinance No. O2026.15
(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 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

16
Ordinance No. O2026.15
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.  Ordinance a Contract; Severability; Ratification of Actions.
(a)
This Ordinance 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 Ordinance is for any reason held to be illegal or unenforceable, such decision will not affect 
the validity of the remaining portions of this Ordinance.  The Council hereby declares that it would 
have adopted this Ordinance and each and every other section, paragraph, subdivision, sentence, 
clause or phrase hereof and authorized the issuance of the Bonds, pursuant hereto irrespective of 
the fact that any one or more sections, paragraphs, subdivisions, sentences, clauses or phrases of 
this Ordinance may be held illegal, invalid or unenforceable.

17
Ordinance No. O2026.15
(c)
All actions of the officers, employees and agents of the City 
including the Council which conform to the purposes and intent of this Ordinance and which 
further the sale and issuance of the Bonds as contemplated by this Ordinance, including retention 
of consultants and counsel necessary to carry out the purposes of this Ordinance, whether taken 
before or after adoption of this Ordinance, 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 Ordinance.
(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 Ordinance 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 CITY COUNCIL OF THE CITY OF 
TEMPE, ARIZONA, this 30th day of April, 2026.
....................................................................................
Corey D. Woods, Mayor
ATTEST:
......................................................................
Kara A. DeArrastia, City Clerk
APPROVED AS TO FORM:
......................................................................
Eric C. Anderson, City Attorney

A-1
EXHIBIT A
[FORM OF NEW MONEY 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 TEMPE, ARIZONA
GENERAL OBLIGATION BOND, [TAXABLE] SERIES 2026[A/B]**
Interest Rate:
Maturity Date:
Dated:
CUSIP:
..................%
July 1, ........
...................., 2026
87973E .....
REGISTERED OWNER:
CEDE & CO.*
PRINCIPAL AMOUNT:
........................................................................................ DOLLARS
THE CITY OF TEMPE, 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 
premium, if any, on this Bond are payable upon presentation and surrender hereof at the designated 
* Insert only while The Depository Trust Company is the Securities Depository.
** The series name and designation of this Bond is subject to change as determined in the Ordinance to which this 
Form is attached as Exhibit A.

A-2
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 are authorized pursuant to special bond elections held in and for the City 
on November 8, 2016, November 3, 2020, and November 5, 2024.  The Bonds are being issued by 
the City pursuant to an Ordinance 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 “Ordinance”), 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:
Redemption Dates
Premium
July 1, ...., and January 1, ....
....%
July 1, ...., and January 1, ....
....
July 1, ...., and thereafter
0.0

A-3
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 Ordinance.  (The Bond 
Registrar and Paying Agent may be changed without notice or consent.)
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

A-4
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 Ordinance.  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 Ordinance 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 Ordinance, 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 Ordinance 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 
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.

A-5
IN WITNESS WHEREOF, THE CITY OF TEMPE, 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 City 
Clerk.
CITY OF TEMPE, ARIZONA
By                          (Facsimile)
    ...............................................................................
     Corey D. Woods, Mayor
ATTEST:
By                      (Facsimile)
    ...................................................................
     Kara A. DeArrastia, City Clerk
[FORM OF CERTIFICATE OF AUTHENTICATION]
CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Ordinance and is 
one of the City of Tempe, Arizona General Obligation Bonds, [Taxable] Series 2026[A/B].
Date of Authentication: .........................................
...................................................................................,
as Bond Registrar and Paying Agent
By...............................................................................
     Authorized Representative

A-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

B-1
EXHIBIT B
[FORM OF REFUNDING 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 TEMPE, ARIZONA
GENERAL OBLIGATION REFUNDING BOND, SERIES 2026C**
Interest Rate:
Maturity Date:
Dated:
CUSIP:
..................%
July 1, ........
...................., 2026
87973E .....
REGISTERED OWNER:
CEDE & CO.*
PRINCIPAL AMOUNT:
........................................................................................ DOLLARS
THE CITY OF TEMPE, 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 
premium, if any, on this Bond are payable upon presentation and surrender hereof at the designated 
* Insert only while The Depository Trust Company is the Securities Depository.
** The series name and designation of this Bond is subject to change as determined in the Ordinance to which this 
Form is attached as Exhibit B.

B-2
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 are being issued by the City to provide funds to refund certain previously 
issued and outstanding general obligation and/or general obligation refunding bonds of the City 
(the “Bonds Being Refunded”) pursuant to an Ordinance 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 “Ordinance”), and pursuant to the Constitution and laws of the State of Arizona relative to the 
sale and issuance of general obligation refunding 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; provided, however, that the issuance of the Bonds shall in no way infringe upon the 
rights of the Bonds Being Refunded to rely upon a tax levy for payment of the principal and interest 
on the Bonds Being Refunded if the obligations issued by or guaranteed by the United States 
government in which net proceeds of the Bonds are invested and which mature with interest so as 
to provide funds to pay when due, or called for redemption, the Bonds Being Refunded together 
with interest thereon and redemption premiums, if any, and with other funds legally available for 
such purpose as determined by the City deposited in the respective principal and interest 
redemption funds and held in trust for the payment of the Bonds Being Refunded with interest and 
redemption premiums, if any, on maturity or upon an available redemption date prove insufficient 
and further that the total aggregate of taxes levied to pay principal and interest on the Bonds in the 
aggregate shall not exceed the total aggregate principal and interest to become due on the Bonds 
Being Refunded from the date of issuance of the Bonds to the final date of maturity of the Bonds 
Being Refunded.  The owners of the Bonds must rely on the sufficiency of the funds and securities 
held irrevocably in trust for payment of the Bonds Being Refunded.

B-3
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:
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.

B-4
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 Ordinance.  (The Bond 
Registrar and Paying Agent may be changed without notice or consent.)
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 Ordinance.  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 Ordinance 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 Ordinance, 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 Ordinance 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 
collection of a direct, annual, ad valorem tax upon taxable property within the City, over and above

B-5
all other taxes authorized or limited by law, except as otherwise described herein, sufficient to pay 
the principal hereof and the interest hereon as each becomes due.
IN WITNESS WHEREOF, THE CITY OF TEMPE, 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 City 
Clerk and to be countersigned by the facsimile signature of the Deputy City Manager/Chief 
Financial Officer of the City.
CITY OF TEMPE, ARIZONA
By                          (Facsimile)
    ...............................................................................
     Corey D. Woods, Mayor
ATTEST:
By                      (Facsimile)
    ...................................................................
     Kara A. DeArrastia, City Clerk
COUNTERSIGNED:
By                          (Facsimile)
    ...............................................................................
     Lisette Camacho, Deputy City Manager/Chief 
     Financial Officer

B-6
[FORM OF CERTIFICATE OF AUTHENTICATION]
CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Ordinance and is 
one of the City of Tempe, Arizona General Obligation Refunding Bonds, Series 2026C.
Date of Authentication: .........................................
...................................................................................,
as Bond Registrar and Paying Agent
By...............................................................................
     Authorized Representative

B-7
[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 Ordinance No. O2026........ was duly passed and 
adopted by the Mayor and the Council of the City of Tempe, Arizona, at a regular meeting held on 
the 30th day of April, 2026, and the vote was ........ ayes and ........ nays and that the Mayor and 
........ Councilmembers were present thereat.
....................................................................................
Kara A. DeArrastia, City Clerk