Resolution IDA 2025-01

RESOLUTION NO. 2O25.OI
RESOLUTION AUTHORIZING THE RETURN OF ANNUAL FEE
OVERPAYMENTS TO TRI.CITY BAPTIST CHURCH
WHEREAS, The Industrial Development Authority of the City of Chandler, Arizona (the
"Authority"), a nonprofit corporation designated as a political subdivision of the State of Arizona,
previously issued its Revenue Bonds, Series 2012-A and Series 2012-B (Tri-City Baptist Church
Project) (the "Bonds"); and
WHEREAS, Computer Share Trust Company, National Association, as trustee of the Bonds,
provided a Notice of Payoff dated December 9,2024 (the "Notice"), stating that the Bonds were
paid in full on December 29,2021; and
WHEREAS, the Authority typically charges an annual fee to its borrowers based on the amount
of bonds or obligations then outstanding; and
WHEREAS, the Tri-City Baptist Church ("Tri-City"), as the borrower of the proceeds of the
Bonds, paid fees in the amount of approximately $6,000.00 (the "Fees") to the Authority in the
period after December 29,2021, and such period was after the Bonds were no longer outstanding;
and
WHEREAS, the bylaws of the Authority require that all checks or other orders for the payment of
money shall be signed by such officer or officers, or agent or agents of the Authority and in such
manner as shall from time to time be determined by resolution of the Board of Directors of the
Authority (the "Board"); *d
WHEREAS, the Authority now desires to refund the Fees to Tri-City because the Bonds were no
longer outstanding when Tri-City paid the Fees to the Authority, and authorize other actions in
connection therewith;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of The Industrial
Development Authority of the City of Chandler, Arizona, as follows:
Section 1. 
In accordance with the Notice, the Board finds and determines that (i) the Bonds
were paid in full and no longer outstanding as of December 29, 202I, and
(ii) because the Bonds were no longer outstanding, it is appropriate to refund the
Fees paid by Tri-City to the Authority after December29,202l.
Section 2. 
The Authority is hereby authorized and directed to refund the Fees to Tri-City, or
its designee. The amount of the Fees refunded is subject to final approval by the
officers and agents of the Authority.
Section 3. 
All actions of the officers and agents of the Authority including the Board which
conform to the purposes and intent of this resolution and which further the
refunding of the Fees to Tri-City as contemplated by this resolution, whether
heretofore or hereafter taken, are hereby ratified, confirmed and approved, The
proper officers and agents of the Authority are hereby authorized and direoted to
do all such acts and things and to execute and deliver all such documents on behalf
of the Authority as may be necessary to carry out the terms and intent of this
resolution.

Resolution No. 2025-01
Page2
PASSED AND ADOPTED by the Board of Directors of The Industrial Development Authority of
the City of Chandler, Arizona,this l4th day of January,2025.
PRESIDENT
APPROVED AS TO FORM:
Greenberg Traurig, LLP, Counsel to the Authority