1. ECONOMIC UPDATE BY ELLIOTT D. POLLACK Presentation by Elliott D. Pollack on recent economic trends and future outlook, in particular for Arizona and Maricopa County. (C-49-10-079-2-00)

2. FY 2011 PROPERTY TAX LEVY The Maricopa County Board of Supervisors resolves that: 1. Pursuant to A.R.S. §§ 42-17151 and 48-3620, and based on the budget it has duly adopted for Maricopa County and the budget adopted by the Maricopa County Flood Control District Board of Directors, the Board fixes and determines the amount to be raised from primary property taxation and secondary property taxation and the Tax Year 2010 tax rates for Maricopa County and the Maricopa County Flood Control District as follows: • Fiscal Year 2011 Maricopa County Primary Tax Rate at $1.0508 per $100 of net assessed valuation with a levy of $492,224,342. • Fiscal Year 2011 Flood Control District Secondary Tax Rate at $0.1489 per $100 of net assessed valuation with a levy of $68,019,592. 2. Based on the amount of taxes to be raised by property taxation determined by each governmental entity set forth in the “Maricopa County 2010 Tax Levy Packet” (attached), the Maricopa County Board of Supervisors has calculated the numerical tax rates necessary to raise the requested revenues, and pursuant to the direction of each such government entity, levies the amounts of taxes and sets the resulting tax rates, all as set forth in the “Maricopa County 2010 Tax Levy Packet”, and 3. As required by statue the Maricopa County Board of Supervisors has calculated, and therefore levies the amount of taxes and sets the resulting tax rates for specific statutory purposes as set forth in the “Maricopa County 2010 Tax Levy Packet”. 4. Pursuant to ARS §42-18003, the Maricopa County Treasurer is directed to collect taxes as required by law from the persons listed on the tax roll. 5. Presentation and discussion of the impact of the Board of Supervisors' property tax policies and related future issues. On January 11, 2010 the Board of Supervisors approved the “Budgeting for Results Budget Policy Guidelines,” which established the Board’s direction for development of the FY 2011 budget. The Board of Supervisors Adopted the FY 2011 Budget on June 21, 2010. The Budget Policy Guidelines called for a primary property tax levy that allowed for no increase from FY 2010, even from new properties added to the tax rolls. As a result, the Maricopa County FY 2011 Primary Property Tax Levy is a tax reduction of $15,458,130 pursuant to A.R.S. §42-17107. The property tax bill savings is $20.03 or 11.5% for the median home (valued for primary property tax purposes at $176,100 for Tax Year 2010 compared with $147,000 for Tax Year 2009). Due to an adjustment in the Tax Year 2010 primary net assessed value ordered by the Property Tax Oversight Commission, the primary tax rate is reduced by $.0010 from the estimate presented with the Tentative Budget. On January 11, 2010 the Flood Control District of Maricopa County Board of Directors approved the policy guidelines that the Flood Control District used to prepare and submit its budget. The Flood Control District Board of Directors adopted the FY 2011 Budget on June 21, 2010, and pursuant to A.R.S. 48-3620 certified the budget to the Maricopa County Board of Supervisors and presented a copy to the Maricopa County Board of Supervisors and the Maricopa County Treasurer. Flood Control District Budget Guidelines called for a property tax levy of $68 million, a $7 million reduction from FY 2010. The reduction in the Flood Control District secondary property tax levy results in a tax bill savings of $4.09 or 15.6% on the median home (valued for secondary property tax purposes at $148,800 for Tax Year 2010 compared with $192,000 for Tax Year 2009). Due to an adjustment in the Tax Year 2010 Flood Control District secondary net assessed value, the District tax rate is increased by $.0004 from the estimate presented with the Tentative Budget. (C-49-10-076-2-00)

3. FY 2011 STREET LIGHTING DISTRICT AND SPECIAL IMPROVEMENT DISTRICT PROPERTY TAX LEVIES Pursuant to A.R.S. §48-955, and based on the budget duly adopted for each of the County Improvement Districts, the Board of Supervisors fixes and determines the Tax Year 2010 tax rate for each County Improvement District per the FY 2011 Budget Schedules entitled “District Assessment of Special Districts” and “Street Lighting Improvement Districts.” (C-49-10-078-7-00)

L-1. LIBRARY DISTRICT FY 2011 SECONDARY PROPERTY TAX LEVY Pursuant to A.R.S. §48-3903, the Maricopa County Library District Board of Directors resolves that, based on the FY 2011 budget it has adopted for the Maricopa County Library District, it fixes and determines the amount to be raised from secondary property taxation and the Tax Year 2010 tax rate for Maricopa County Library District at $0.0412 per $100 of net assessed valuation with a levy of $20,479,676. On January 11, 2010 the Maricopa County Library District Board of Directors approved the policy guidelines that the Library District used to prepare and submit its budget. The Board of Directors adopted the FY 2011 Budget on June 21, 2010, and pursuant to A.R.S. §48-252 presented a copy to the Maricopa County Board of Supervisors and the Maricopa County Treasurer. Library District Budget Guidelines called for a property tax levy of $20.4 million, which allowed for no increase from FY 2010, even from new property added to the tax rolls. The Library District secondary property tax levy results in a tax bill savings of $.65 or 9.5% on the median home (valued for secondary property tax purposes at $148,800 for Tax Year 2010 compared with $192,000 for Tax Year 2009). (C-49-10-077-2-00)

4. EXECUTIVE SESSION