HomeMy WebLinkAboutMinutes - Minutes - Industrial Development Authority - Meeting Date: 5/24/2016 RYLEYCARLOCK A PROFESSIONAL CORPORATION
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& A P P L E W H I T E CITY�OF GLEND A L ne North CenPhoenix ,ralnArizona 85004
Attorneys p P 602.258.7701 F 602.257.9582
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,a, .. C-10900
05/27/2016
William F.Wilder
Direct Line:602.440.4802
Direct Fax:602.257.6902
wwilder@rcalaw.com
May 27, 2016
Ms. Pamela Hanna
Clerk
City of Glendale
5850 West Glendale Avenue
Glendale, Arizona 85301
Re: The Industrial Development Authority of the City of Glendale, Arizona /
Revenue and Refunding Bonds (Glencroft Retirement Community Project),
Series 2016
Dear Ms. Hanna:
As I believe you will recall, we are counsel to The Industrial Development Authority of
the City of Glendale,Arizona.
On May 24, 2016, the Board of Directors of the Glendale IDA met and adopted the
enclosed Resolution, authorizing and approving the issuance of not to exceed $22,000,000 of
revenue and refunding Bonds for the benefit of the Glencroft Retirement Community Project. A
copy of the Resolution, as adopted by the Glendale IDA Board, is enclosed for the records of the
City of Glendale.
On May 23, 2016 I, as a designated representative of and authorized representative of the
Glendale IDA, conducted a public hearing with regard to the proposed issuance of the Bonds
described above. No persons appeared at the public hearing to comment or be heard.
A copy of my Report of Public Hearing Pursuant to Section 147(f) of the Internal
Revenue Code, dated May 23, 2016, is enclosed for the records of the City of Glendale.
A copy of this letter and of the enclosures is being sent to Ms. Jean Moreno in the City of
Glendale's Economic Development Department.
We have heretofore requested to be on the agenda for the City Council meeting on
June 14, 2016. The materials enclosed herewith are submitted to you in your capacity as the
4009011.1
05/27/16
Ms. Pamela Hanna R
May 27, 2016 YLEY OARLOCK
Page 2 & A P P L E W H I T E
Attorneys
Clerk of the City of Glendale for the purpose of these documents being in the records of the City
prior to the City Council being requested to take its action on June 14, 2016.
If or to the extent you have any questions, certainly give me a call.
Yours very truly,
c._
William F. Wilder
WFW:mm
Enclosures
cc: Ms. Jean Moreno, w/encl.
0 IVO
RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF GLENDALE, ARIZONA, AUTHORIZING AND
APPROVING (A) THE ISSUANCE OF REVENUE AND REFUNDING
BONDS IN ONE OR MORE SERIES AND IN AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $22,000,000, WITH RESPECT
TO THE (I) FINANCING AND REFINANCING OF THE PROJECTS
REFERRED TO HEREIN OF FRIENDSHIP RETIREMENT
CORPORATION AND/OR ENTITIES AFFILIATED THEREWITH AND
(II) THE UNDERTAKING BY FRIENDSHIP RETIREMENT
CORPORATION AND/OR ENTITIES AFFILIATED THEREWITH OF THE
REFINANCING TRANSACTIONS REFERRED TO HEREIN AND (B) THE
EXECUTION AND DELIVERY OF RELATED DOCUMENTS
WHEREAS, The Industrial Development Authority of the City of Glendale, Arizona (the
"Authority"), is a corporation organized and existing under the lawsof the State of Arizona (the
"State"), is designated as a political subdivision of the State and is authorized and empowered by
the provisions of Title 35, Chapter 5, of the Arizona Revised Statutes, as amended (the "Act"), to
issue revenue bonds for the purpose of assisting in financing or refinancing the costs of the
acquisition, construction, improving and equipping of one or more "projects" as defined in the
Act; and
WHEREAS, the term "project" includes within its meaning the financing and refinancing
of facilities owned or operated by a nonprofit organization described in Section 501(c) of the
United States Internal Revenue Code of 1986, as amended(the "Code"); and
WHEREAS, each of Friendship Retirement Corporation ("FRC"), Glencroft Towers I, Inc.
("Glencroft Towers") and Sarah's Place, Inc. ("Sarah's Place" and, together with FRC and
Glencroft Towers, the "Borrowers") is an Arizona nonprofit corporation and an organization
described in Section 501(c)(3) of the Code organized primarily to operate a life care retirement
community; and
WHEREAS, pursuant to an Indenture of Trust, dated as of January 1, 1997 (the "Prior
Bond Indenture"), by and between the Authority and Bank One, Arizona, NA, as predecessor in
interest to Wells Fargo Bank (the "Prior Bond Trustee"), the Authority previously issued its
Variable Rate Senior Living Facilities Revenue Bonds (Friendship Retirement Corporation
Project) Series 1997, in the original principal amount of $5,780,000, which are currently
outstanding in the aggregate principal amount of$5,780,000 (the "Series 1997 Bonds"); and
WHEREAS, the Authority loaned the proceeds of the Prior Bonds to FRC, which used the
proceeds to, among other things, refinance (a) the Deed of Trust Note dated April 4, 1977 in the
original principal amount of$1,981,700, (b) the Industrial Development Authority of the County
of Maricopa Mortgage Revenue Bonds (Friendship Retirement Corporation - FHA - Insured
Project) Series 1981 in the original principal amount of $1,750,000 and (c) the Industrial
Development Authority of the County of Maricopa Industrial Development Revenue Bonds
(Friendship Retirement Corporation Project) Series 1984 in the original principal amount of
Glencroft-IDA Resolution 3986934 02 00 B.doc
1125095
$5,000,000, the proceeds of all of which were used to finance the acquisition, construction and
equipping of certain senior living facilities at Glencroft Retirement Community, including
Glencroft Villa Apartments, consisting of independent and assisted living apartments, and
Glencroft Care Center(now known as Providence Place), a nursing care facility; and
WHEREAS, the Department of Housing and Urban Development has heretofore insured a
taxable loan issued in the original aggregate principal amount of$3,523,200 (the "HUD Loan")
to Glencroft Towers; and
WHEREAS, the proceeds of the HUD Loan were used, among other things, to refinance
certain loans issued to Glencroft Towers by the Department of Housing and Urban Development,
the proceeds of which were used to construct and equip The Towers, including The Towers at
Glencroft, consisting of independent living apartments, and Towers Assisted Living, consisting
of assisted living apartments; and
WHEREAS, the Federal Housing Administration has heretofore insured a taxable loan
issued in the original aggregate principal amount of $3,360,000 (the "FHA Loan") to Sarah's
Place; and
WHEREAS, the proceeds of the FHA Loan were used, among other things, to finance the
costs of constructing and equipping Sarah's Place, consisting of memory care units; and
WHEREAS, the Borrowers, or certain related entities, desire to (a) refund all or a portion
of the Series 1997 Bonds; (b) refinance the HUD Loan; (c) refinance the FHA Loan; (d) pay or
reimburse the Borrowers (or certain related entities) for the payment of, or refinance certain
taxable indebtedness of the Borrowers (or certain related entities) used to finance, certain costs of
constructing, renovating, remodeling and equipping certain senior living facilities of the
Borrowers, or certain related entities, known generally as Glencroft Retirement Community
(collectively, the "Project"); (e) fund any required reserve funds; (f) pay capitalized interest on
the hereinafter defined Bonds, if any; and (g) pay certain expenses relating to issuance of the
Bonds (collectively,the "Plan of Finance"); and
WHEREAS, pursuant to and in accordance with the provisions of the Act, the Authority is
prepared to issue and sell its Revenue and Refunding Bonds (Glencroft Retirement Community
Project), Tax-Exempt Series 2016, in one or more series and in an aggregate principal amount
not to exceed TWENTY-TWO MILLION DOLLARS ($22,000,000) (the "Bonds"), as part of a plan
to assist the Borrowers with the Plan of Finance, all through one or more loans to FRC, on behalf
of itself and the other Borrowers; and
WHEREAS, this Board believes that the Borrowers are providers of a broad range of life
care retirement community services that benefit the residents of the City of Glendale and the
State, and hereby find that it is desirable and in the public interest to assist the Borrowers in
obtaining overall beneficial and cost effective financing and refinancing of such "projects" as
described in the Plan of Finance; and
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WHEREAS, the proceeds of the Bonds will be used, and the proceeds of the Series 1997
Bonds, the HUD Loan and the FHA Loan were used, together with certain other funds, to
finance, refinance and/or reimburse the Borrowers for certain of the costs of the design,
acquisition, improvement, construction, renovation and equipping of certain facilities owned by
the Borrowers comprising "projects," as defined in the Act; and
WHEREAS, the facilities being financed and refinanced with the proceeds of the Bonds are
owned or operated by the Borrowers and are located on the approximately 34-acre Glencroft
Retirement Community campus at 8611 and 8641 North 67th Avenue, 8620 and 8650 North 65th
Avenue, 6510, 6540, 6620, 6650 and 6670 West Butler Drive, and 6511, 6541, 6621 and 6651
West Alice Avenue, in Glendale, Arizona; and
WHEREAS, the Authority has previously granted preliminary approval to issue and sell the
Bonds, pursuant to the Act, in one or more series, pursuant to a resolution adopted by the
Authority at its April 19, 2016 meeting (the "Initial Resolution"); and
WHEREAS, the Borrowers now request the Authority's final approval to issue and sell the
Bonds in an aggregate principal amount not to exceed $22,000,000 and loan the proceeds thereof
to FRC, on behalf of itself and the other Borrowers, to finance the Plan of Finance; and
WHEREAS, there have been prepared and presented to the Authority proposed forms of
the following documents (collectively, the "Documents"):
(a) the form of the Loan Agreement (the "Loan Agreement"), between FRC
and the Authority;
(b) the form of the Bond Trust Indenture (the "Bond Indenture"), between the
Authority and U.S. Bank National Association, as bond trustee (the "Bond Trustee");
(c) the form of the Bonds (as set forth in the Bond Indenture);
(d) the form of the Bond Purchase Agreement (the "Bond Purchase
Agreement") to be entered into by and between the Authority, FRC, Glencroft Towers,
Sarah's Place, Friendship Retirement Foundation, Inc. (the "Foundation") and B.C.
Ziegler and Company, as the initial purchaser of the Bonds (the "Underwriter"); and
(e) the form of the Preliminary Official Statement (the "Official Statement");
and
WHEREAS, it will also be necessary for the Authority to enter into a Tax Exemption
Certificate and Agreement and a Regulatory Agreement and Declaration of Restrictive
Covenants, to be dated as of the date of issuance of the Bonds, among the Authority, the Bond
Trustee and the Borrowers, setting forth certain federal income tax restrictions with respect to the
Bonds, which agreement will be in such forms as approved by counsel to the Authority; and
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WHEREAS, upon their initial issuance, the Bonds will be purchased by the Underwriter
pursuant to the Bond Purchase Agreement; and
WHEREAS, it appears to this Board that the execution and delivery of the above-
referenced documents by the respective parties named therein to the extent called for thereby, the
issuance and sale of the Bonds by the Authority as contemplated by such documents and the
effect thereof will be in furtherance of the purposes of the Authority; and
WHEREAS, it appears that each of the above-referenced documents that is now before this
meeting is in appropriate form, and that each of the above-referenced documents is an
appropriate instrument, to be executed and delivered by the respective parties named therein for
the purposes intended;
Now,THEREFORE,BE IT AND IT IS HEREBY RESOLVED BY THE BOARD OF DIRECTORS OF
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE, ARIZONA, AS
FOLLOWS:
1. For the purpose of providing moneys to be made available in the manner
and for the purposes described herein and in the documents presented to the Authority, the
Authority hereby approves the creation and issuance of the Bonds to be sold and issued as
hereinafter provided.
2. The Bonds shall be issued in one or more series, in an aggregate principal
amount of not to exceed $22,000,000 and shall bear interest, be dated, be issued in such form and
denominations, be payable as to interest and principal on such dates, be executed in such manner
and have such other provisions, including without limitation provisions with respect to
redemption prior to maturity, as are set forth in the form of the Bond Indenture now before this
meeting, with such additions, deletions and modifications consistent with this Resolution as shall
be approved by the officers of the Authority executing the Bond Indenture, their execution and
delivery thereof to constitute conclusive evidence of their approval and of this Board's approval
of such additions, deletions or modifications;provided, however, that the Bonds shall: (a) bear
interest at rates not in excess of 6.0% per annum, (b) mature or be subject to mandatory
redemption over a period not exceeding 36 years from date of issuance and (c) be sold to the
Underwriter for a purchase price not less than 98% of the aggregate principal amount thereof
(without regard to any original issue discount). The President is hereby authorized to execute
such Bonds by manual or facsimile signature and to cause the same to be delivered as provided in
the Bond Indenture as the same are executed and delivered, and the Secretary is hereby
authorized to attest, by manual or facsimile signature, to the signature of the President. This
approval is subject to the following terms and conditions:
2.1. Notice regarding the issuance of the Bonds is given to the Arizona
Attorney General in the manner contemplated by Section 35-721(F) of the Act and,
within ten days of such notice, the Arizona Attorney General does not issue an opinion
indicating that the project to be financed or refinanced does not come within the purview
of the Act.
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2.2. All agreements, certificates, documents, or instruments, including the
Documents, requiring the execution or consent of the Authority are in a form and
substance acceptable to the Authority's counsel.
2.3. The Authority receives such opinions, certificates, comfort letters and
consent letters in connection with the Bonds as the Authority's counsel may deem
necessary or appropriate, in form and substance satisfactory to the Authority's counsel
and advisors.
2.4. The proceedings under which the Bonds will be issued will have been
approved by the Council of the City of Glendale, Arizona (the "City").
2.5. The Authority, its officers, directors, employees, agents and the City are
provided with full indemnification in connection with the issuance and sale of the Bonds,
in form and substance satisfactory to the Authority's counsel, from a credit-worthy
source.
2.6. The Borrowers agree to make arrangements mutually satisfactory to
the Authority as to the payment of the Authority's annual administrative fees and
expenses, the terms and conditions of which will be incorporated into the Documents
executed in connection herewith.
3. The Bonds shall be payable solely from the property held and receipts and
revenues received by or on behalf of the Authority pursuant to the Bond Indenture. Nothing
contained in (a) this Resolution, (b) the Documents, or (c) any other agreement, certificate,
document, or instrument executed in connection with the issuance of any of the Bonds shall be
construed as obligating the Authority (except as a limited obligation to the extent provided in
such documents or instruments) or obligating the City or the State to pay the principal of or
premium, if any, or interest on the Bonds, or as incurring a charge upon the general credit of the
Authority, the City or the State, nor shall the breach of any agreement contemplated by this
Resolution, the Documents, or any other instrument or documents executed in connection
herewith or therewith impose any charge upon the general credit of the Authority, the City or the
State. The Authority has no taxing power.
Prior to the issuance of the Bonds, the Authority has or will have issued, and
subsequent to the issuance of the Bonds, the Authority may issue, bonds in connection with the
financing of other projects (said bonds are referred to herein as the "Other Bonds"). Any pledge,
mortgage, or assignment made in connection with the Other Bonds shall be protected, and any
funds pledged or assigned for payment of principal of or premium, if any, or interest on the Other
Bonds shall not be used for the payment of principal of or premium, if any, or interest on the
Bonds. Any pledge, mortgage, or assignment made in connection with the Bonds shall be
protected, and no funds pledged or assigned for the payment of the Bonds shall be used for the
payment of principal of or premium, if any, or interest on the Other Bonds.
4. Each of the members of the Authority's Board of Directors (each an
"Authorized Officer") are hereby authorized individually to execute and deliver each of the
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Documents or, with respect to any of the Documents not calling for execution by the Authority,
to approve and deliver such documents. Such documents the proposed forms of which are now
before this board shall be substantially in such respective proposed forms, and such other
documents shall be in such respective forms as are approved by counsel to the Authority, in each
case with such additions, deletions and modifications as shall be approved by those Authorized
Officers executing and delivering the same on behalf of the Authority, or approving on behalf of
the Authority the forms thereof as executed by the parties thereto, and such execution and
delivery of those documents to be executed on behalf of the Authority shall constitute conclusive
evidence of their approval and of this Board's approval of the final respective forms of such
documents.
5. The lawful use and distribution of the Official Statement, which shall be
substantially in the form of the Preliminary Official Statement approved hereby, relating to the
original issuance of the Bonds and any amendments thereof or supplements thereto, is hereby
authorized. Except for information contained under the captions "THE AUTHORITY" and
"LITIGATION-The Authority," as such captions relate to the Authority in the Official Statement,
the Authority has not confirmed, and assumes no responsibility for, the accuracy, sufficiency or
fairness of any statements in the Official Statement or any amendments thereof or supplements
thereto, or in any reports, financial information, offering or disclosure documents or other
information relating to the Plan of Finance, the Borrowers, or the history, businesses, properties,
organization, management, financial condition, market area or any other matter relating to the
Borrowers or otherwise contained in the Official Statement.
6. The sale of the Bonds to the Underwriter pursuant to the terms and
provisions of the Bond Purchase Agreement is hereby authorized and approved. Any Authorized
Officer is hereby authorized to execute and deliver to the Bond Trustee any written order of the
Authority for the authentication and delivery of the Bonds by the Bond Trustee to the
Underwriter.
7. After the Bonds are delivered by the Bond Trustee to the Underwriter upon
receipt of payment therefor, this Resolution shall be and remain irrepealable until the Bonds and
interest thereon shall have been fully paid, canceled, and discharged.
8. In the event of the absence, unavailability or inability to act of any
Authorized Officer, any Director of the Authority is authorized and empowered to take all
'actions, to execute all documents and instruments and to deliver the same, as are herein
authorized to be taken or executed and delivered by the Authorized Officers.
9. U.S. Bank National Association is approved and appointed as Bond Trustee
under the Bond Indenture, and as registrar and as an initial paying agent with respect to the
Bonds. The Bond Trustee is authorized and requested to execute and deliver the documents
referred to above calling for execution and delivery thereof by the Bond Trustee.
10. All actions of the officers, directors, and agents of the Authority which are
in conformity with the purposes and intent of this Resolution and in furtherance of the issuance
and sale of the Bonds and the financing and completion of the Plan of Finance, all as
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contemplated by this Resolution and the documents referred to herein, whether heretofore or
hereafter taken, shall be and are hereby ratified, confirmed and approved. The proper officers,
directors and agents of the Authority are hereby authorized and directed to do all such acts and
things and to execute, acknowledge and deliver all such documents on behalf of the Authority as
may be deemed necessary or desirable to carry out the teens and intent of this Resolution
(including, but not limited to, one or more documents relating to the refunding of the Series 1997
Bonds, the refinancing of the HUD Loan or the refinancing of the FHA Loan, including but not
limited to amendments to the Prior Bond Indenture and the loan agreement related to the Series
1997 Bonds and an escrow agreement relating to the refunding of the Series 1997 Bonds) and of
any of the documents referred to herein. Any Authorized Officer is authorized to execute and
deliver from time to time on behalf of the Authority such documents amendatory and
supplementary to the documents referred to herein as may, in accordance with the terms of such
documents, be executed and delivered without notice to or consent of holders of the Bonds. To
the extent the proceedings of the Authority in connection with the issuance of the Bonds or the
provisions of any other document to be executed by the Authority in connection with the
issuance of the Bonds fail in any way to comply with the requirements of the Authority's
procedural guidelines, such requirements of the Authority's procedural guidelines are hereby
waived with respect to the issuance of the Bonds.
11. Nothing contained in this Resolution, nor in any other instrument, may be
considered as obligating the Authority or the City to any pecuniary liability or charge upon the
general credit of the Authority or the City. Furthermore, it is understood that no costs are to be
borne by the Authority with respect to the Plan of Finance and the issuance and sale of the Bonds
except those to be paid out of the proceeds of the Bonds, and that the Borrowers will promptly
reimburse the Authority for any other expenses reasonably incurred by the Authority, including
the fees of its legal counsel and any financial advisor, whether or not the Bonds are issued or
sold.
12. The Authority, the members of the governing body of the Authority and any
director, officer, official, employee or agent of the Authority shall not be subject to any personal
liability or accountability by reason of the issuance of the Bonds or execution, delivery of
performance of the Documents. The liability of the Authority with respect to any Document
executed in connection with the transactions contemplated hereby shall be limited as provided in
the Act and such Documents.
13. If any section, paragraph, clause or provision of this Resolution is for any
reason held to be invalid or unenforceable, the invalidity or unenforceability of such section,
paragraph, clause or provision does not affect any of the remaining provisions of this Resolution.
14. It is found and determined that all formal actions of the Authority and its
Board concerning and relating to the adoption of this Resolution were adopted in an open
meeting and that all deliberations that resulted in those formal actions were in meetings open to
the public, in compliance with all legal requirements of the State and the Authority.
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15. Notice of Arizona Revised Statutes Section 38-511 is hereby given. The
provisions of that statute by this reference are incorporated herein to the extent of applicability to
matters contained herein under the laws of the State.
[REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK.]
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ADOPTED AND APPROVED this 24th day of May, 2016.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GLENDALE,ARIZONA
i
" s
By
Authorized Officer
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THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GLENDALE, ARIZONA
REVENUE AND REFUNDING BONDS,
(GLENCROFT RETIREMENT COMMUNITY PROJECT)
SERIES 2016
REPORT OF PUBLIC HEARING
PURSUANT TO SECTION 147(1) OF THE
INTERNAL REVENUE CODE
The undersigned, William F. Wilder, legal counsel and a designated
representative of The Industrial Development Authority of the City of Glendale, Arizona (the
"Authority") for the purpose of conducting a public hearing pursuant to the requirements of
Section 147(f) of the Internal Revenue Code of 1986, as amended, with respect to the above
captioned series of Bonds, hereby reports that the public hearing was held at 9:00 a.m. on
Monday, May 23, 2016, in the First Floor Lobby of the Glendale Municipal Complex, 5850
West Glendale Avenue, Glendale, Arizona, pursuant to a Notice of Public Hearing published in
The Glendale Star on May 5, 2016, and in The Record Reporter on May 4, 2016.
A copy of the Notice of Public Hearing and Affidavits of Publication are attached
hereto.
At the time and place set for the public hearing, I announced that the public
hearing was opened and asked if there were any interested persons wishing to comment and be
heard with regard to the proposed issuance of revenue and refunding bonds (the "Bonds") by the
Authority in an amount not to exceed $22,000,000, the proceeds of which would be loaned to
Friendship Retirement Corporation, an Arizona nonprofit corporation to provide Friendship
Retirement Corporation with funds to finance, refinance or reimburse the costs of senior living
facilities which are or will be operated by Friendship Retirement Corporation in Glendale,
Arizona.
No members of the public were present at the public hearing and no persons
requested, orally or in writing, to comment or be heard with regard to the matter.
There having been no persons present who wished to comment or be heard, I
declared the public hearing closed and am submitting this report with respect to such public
hearing.
Dated: May 23, 2016
Wil iam F. Wilder, Legal Counsel aid
Designated Authorized Representative
The Industrial Development Authority
of the City of Glendale, Arizona
Attachment: Notice of Public Hearing
Affidavits of Publication
3989667.1
05/02/16
NOTICE OF PUBLIC HEARING
Notice is hereby given that a public hearing will be held on Monday, May 23, 2016, at
9:00 a.m. in the first floor lobby of the Glendale Municipal Complex, 5850 West Glendale
Avenue, Glendale, Arizona, regarding the proposed issuance by The Industrial Development
Authority of the City of Glendale, Arizona (the "Authority") of one or more series of its
Revenue and Refunding Bonds (Glencroft Retirement Community Project), Tax-Exempt Series
2016, to be issued in an aggregate principal amount not to exceed $22,000,000 (the "Bonds") at
the request of, and for the benefit of, Friendship Retirement Corporation ("FRC"), Glencroft
Towers I, Inc. ("Glencroft Towers") and Sarah's Place, Inc. ("Sarah's Place" and, together with
FRC and Glencroft Towers, the "Borrowers"), each an Arizona nonprofit corporation and an
organization described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the "Code").
The proceeds of the Bonds will be used to make a loan to the Borrowers and used to
(a) refund and refinance all or a portion of the Authority's $5,780,000 original principal amount
Variable Rate Senior Living Facilities Revenue Bonds (Friendship Retirement Corporation
Project) Series 1997 (the "Series 1997 Bonds"); (b) refinance a taxable loan in the original
principal amount of $3,523,200 issued to Glencroft Towers and insured by the Department of
Housing and Urban Development (the "HUD Loan"); (c) refinance a taxable loan in the original
principal amount of $3,360,000 issued to Sarah's Place and insured by the Federal Housing
Administration (the "FHA Loan"); (d) pay or reimburse the Borrowers (or certain related
entities) for the payment of, or refinance certain taxable indebtedness of the Borrowers (or
certain related entities) used to finance, certain costs of constructing, renovating, remodeling and
equipping certain senior living facilities of the Borrowers, or certain related entities, known
generally as Glencroft Retirement Community located at 8611 and 8641 North 67th Avenue,
8620 and 8650 North 65th Avenue, 6510, 6540, 6620, 6650 and 6670 West Butler Drive, and
6511, 6541, 6621 and 6651 West Alice Avenue, in Glendale, Arizona (collectively, the
"Campus"), including, without limitation, (i) the renovation and expansion of the basement of
the building located at 8611 North 67th Avenue to house a wellness center, activity rooms and a
library, (ii) the renovation of independent living units known as the "Casitas" located at 6510,
6540, 6620 and 6650 West Butler Drive, and 6511, .6541, 6621 and 6651 West Alice Avenue,
(iii) construction of an approximately 194 square foot addition to Providence Place located at
8641 North 67th Avenue to house rehabilitation services and the renovation of other areas within
Providence Place, (iv) the renovation of the main Campus dining room located at 8620 North
65th Avenue, including the construction of an outdoor amphitheater space and an approximately
74 square foot expansion, (v) the replacement of two cooling towers for the Campus, (vi)
completion of a Campus re-paving project, and (vii) the renovation and remodeling of other
existing facilities located on the Campus (collectively, the "Project"); (e) fund any required
reserve funds; (f) pay capitalized interest on the Bonds, if any; and (g) pay certain expenses
relating to issuance of the Bonds.
The proceeds of the Series 1997 Bonds were used, among other things, to refinance
(i) the Deed of Trust Note dated April 4, 1977 in the original principal amount of $1,981,700,
(ii) the Industrial Development Authority of the County of Maricopa Mortgage Revenue Bonds
(Friendship Retirement Corporation - FHA - Insured Project) Series 1981 in the original
Glencroft 2016-Notice of Public Hearin-3980294 05 02.doc
1125095
principal amount of$1,750,000 and (iii) the Industrial Development Authority of the County of
Maricopa Industrial Development Revenue Bonds (Friendship Retirement Corporation Project)
Series 1984 in the original principal amount of$5,000,000, the proceeds of all of which were
used to finance the acquisition, construction and equipping of certain senior living facilities at
Glencroft Retirement Community, including Glencroft Villa Apartments, consisting of
independent and assisted living apartments, and Glencroft Care Center (now known as
Providence Place), a nursing care facility.
The proceeds of the HUD Loan were used, among other things, to refinance certain loans
issued to Glencroft Towers by the Department of Housing and Urban Development, the proceeds
of which were used to construct and equip The Towers, including The Towers at Glencroft,
consisting of independent living apartments, and Towers Assisted Living, consisting of assisted
living apartments.
The proceeds of the FHA Loan were used, among other things, to finance the costs of
constructing and equipping Sarah's Place, consisting of memory care units.
The initial owners or operators of the facilities being financed and/or refinanced with the
proceeds of the Bonds are the Borrowers. The facilities to be financed and/or refinanced with
the proceeds of the Bonds are located on the approximately 34-acre Glencroft Retirement
Community campus at 8611 and 8641 North 67th Avenue, 8620 and 8650 North 65th Avenue,
6510, 6540, 6620, 6650 and 6670 West Butler Drive, and 6511, 6541, 6621 and 6651 West Alice
Avenue, in Glendale, Arizona.
The Bonds are limited obligations of the Authority payable solely from revenues,
receipts, and security pledged to their payment. The Bonds will not constitute an indebtedness or
liability of the Authority, the City of Glendale, Arizona (the "City"), the State of Arizona
(the "State"), or any political subdivision of the State, and neither the faith and credit nor taxing
power of the Authority, the City, the State or any political subdivision of the State has been
pledged to payment of the Bonds. The Authority has no taxing power.
The public hearing is required by Section 147(f) of the Code. At the time and place set
for the public hearing, interested persons will be given the opportunity to express their views,
both orally and in writing, on the proposed issuance of Bonds, and the location and nature of the
proposed Project to be financed and the refinancing of the Series 1997 Bonds, the HUD Loan
and the FHA Loan. Written comments may also be submitted to the law firm of Ryley Carlock
& Applewhite, Attention: William Wilder, One North Central Avenue, Suite 1200, Phoenix,
Arizona 85004, RE: Glencroft Retirement Community Project, until twenty-four (24) hours
before the time and date of the hearing.
This notice is dated May 5, 2016.
- 2 -
AFFIDAVIT OF
PUBLICATION
STATE OF ARIZONA )ss.
COUNTY OF MARICOPA )
I,Kelly Lyons of
The Glendale Star
A newspaper of general circulation
published and printed in the City of
Glendale,County of Maricopa,State
of Arizona,do solemnly swear that a
copy of the notice,in the matter of:
NOTICE OF HEARING
Glencroft Retirement Community Project
As per clipping attached,was published
weekly in the regular and entire edition
of the said newspaper,and not in any
supplement hereof, for a period of 1
consecutive week(s),as follows, to wit:
05/05/16
•
Kelly yons11111
Subscribed and sworn to before me,
This 5th day of May,2016
(s)
Notary Public
My Commission Expires:
ROGER TOOPS
Notary Public-Arizona
avo,/ Maricopa County
My Comm.Expires Aug 14,2018
May 5,2016 The Glendale Star 21
2.ARTICLES Of Phew,AZ85 1 Jose
tusRu 00002.221291 axion.IN°te.sgrnture must.ine0 by Inst alae Ha.to 1M Personal Representative,in care
ARIZONA CORPONAT ORGANIZATION OMMISSIUH F0P a S,erAve Direcf"ore,k 5"Prk"t DTI e or w I,0 7111etwl.11 ,the I 'rg'
qpm 99,May 5 andtal2 2016 um ars 8 ane]ane go to Kirsten CopelerA.No.021721
g2mAZ 85301 tpielaa"nortb 5]Offices.PLLC
LLC RACTICAL TNEORv BUSWE55 GPWP. HAVE BEN FE EO IN THE OFFICE OF THE MR e W�g2 850 member p 2t a.PutelMh T. Meay 512016 - Corporations
ppropriiateb box Mal checked
n ng approval Glendale,AZ i5302�
CORPORATION COMMISSION FOR Publan le t eMv of the"Cv6. oN end follow instruct (see Me Mt 6
ass 21'
TM''"'"2red Once Is'. A Mm 21 T28 W May 5,2416 CFS OF nuc aia CO22n,or information pout voting II u
eme UZZEL 2818,LLCi N THE OFFFICE OF THE yo psi: P bI TMpOapep gar
Suite 11114CLES OF ORGANIZATION nCORPORATIO NCOMMISSION FOR Ap o by Cor •toor hoard of ree. ey t e
2.85r02S registered once is. OSBEEN
RLED IN
OFFICEOF ION FORHE2.0 with.shareholder action.e snareer 5 2 NOTICE TO CREDITORS
The Dry Agent I2. W Rey - NTDRES,LLC. _1 was not.required_or no snares rave been
NWB 00,0 mtt dleu Name:GREEN WORKS LANDSCAPING LLC Name: Of The
11...gtignature Ms bjI°emctiootout"Of vau SSteven D.ANN,teven D.ERN,PC.
Slate C-5 e chandler.of Stafmwy Agent H: tl Baronehe ,
Of
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I Approved be 6'tsrnarlwMa.and gaups- Jackson
N.TR..EW.�III 2614.9
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re P.O.Sox 1734
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Phoenix 04]Statutory Ment G. aThe dW Name
St 61 Ad Dale by r9po RIs . p. ru 608
Person
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1 geme 652 m ked L"n tlo pang a P7132 n°w0 SI...,
s.�a� Pen„ n °D E n b, Vera d VFg 0,I b filled i;43 W4]Facsimile
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Sufie/1114 N ,. on ile em Mr approve dl .'TTI N aEAoa co20 or THE STATE AL
e e e 1R iR0t6 Phoenix.AZ 85016 e O n eb ty com P e. rvemea�2E,cn member ARIZONA OR THE COUNTY OF MAP COPA
NOTICE TO CREDITORS
ORGANIZATION ]WFeY Pd S ha PeOne Z 2 Groups-complete voang group Regiew the nstrHuct ane eC00p021 PS20/600155667
HAVE AEENF ED IN FFICE OF THE 191-fiP abo .iI'°ecomONl ane Nome anao teal.
ARIZONA CORPORATION COMMISSION FOR p ndler. 85226 Pn3o en i1;gMini 0°,1e t r ....The
end May 512016 is neacnaeeee°c"y misVOt Dw tHwneenon
_ 2,2 Apel 21,2e and Rey 5 tm0 ARTICLES F ORGANIZATION sooting Grown.IckissYwnesl__ Mice Is hereby v that
THEORY ENTERPRISES,LLC. Pym 28,May 5 ane 2,2016 ppTCLEe of ORGANIZATON PAVONA 00 PONAITON COPPICE OF THE Voting
res in votargn�rouo:a Zenon el A.Oman nes
TneA.n gVM10P0ZOer°0ONce N'. ARTICLES OF ORGANIZATION HA062000RLEDOT0 COMMISSION FOR
AR OMMM3100 FOR were 1 welm All persons Representative
oA01a1
2812 N 240 St ED IN THE
HCOMMIE OF THE AR CORPORATION COMMISSION FOp et wen a cant or aper our
Surra P114 ARIZONA
HAVE
S810N FOR eme.SCORPIO TAXACCOUNTING. C. to k
provided in ARS
102 Name
6 CAMILLE HELEN DESIGN.LLL. Rema MAL CONSULTING.LLC. TM Agwes1O Rey OH.ce a age 9ry 'NI 1
00al0Mna S.ulory Mem ls: TMm: The Address O The Registered OMC.ls, 3418 Thunderbird The
5 1:This nonprofit CorpOrehon c.rti.under pen
C Bel Road Tne Aggress O TM Pegs ka a 386,E Lle.a Dr Glendale AZ 7.05 me B 0 mailing W See
54236 155008Nig 172110)raoo5 Nmrvx2%85050 Name Of Statutory Agent s: S.
Suite C-511236
AZ 85308 The SUM.,'Manz.: Hww Piccnwce of tM tle iben n n bore erec e 9 ":„.1,''''',L1=117°,4'.°,1=
III rhe Name Of Tne Statutory Agent Is Joseph Luonlp Jr M plicebieN^ b wfn.i'l Tp vel '+int m Ner°
Meesragva�TO
O TM LknMp LlMinry Com § Carellee Y ur kl 3881 MN�I.a Or Googrer.PZ 663s5f unne'n"oi r person required y e ° e Me w OHke of Se. O�K P.P 0Box
o ThAQM1M1M2A.TM Names rl°at Eecn 000.0. 85050 III noallioretbn. Si.,eGlendale,day
0111 1-1a a'YJ4.
AZ 852x54 11 engem.Of The Limited WWI.Com. Number M1B8tt^rougn N to corporations ay M Ay",20,6
Hank Morale,^91. r. Scottsdale, III M. elf The
Debility Company N Reserved To The Members.The Names.Each ...bee 0002eb Ip;Personal Representative Durran
µ ryoMmenlbw Management To T01 he MeiLimitedn..T.NMyeasq Each
D m M s Each Ne.WhoSchni kwVons A Member Are 8.The w- car e.nwlMs
FR Sclaepkavon Dx Camel.manta u.a penalty of pee.
by Are signature•%Ream% Steven D.BHT,PCaava
Solite C-5 4238 Person Who I The
Are. Joseph V.
Je member
a. 3419 i Thunderbird St w hollowing statements are true: (e)Steven .Neist
G lendale,AZ 85308 u..,member el.deIe,.8.07 88,1 No debt or Me�opwNon rerne.unpaid. o a ntONe
PubWh The G0.e.Star member
..O P1II01 The Glenda.Ste, corporation remain- 00)20,JTM PCS s,,,,
A.28.May 5 ale 12,2016 April 2T 28 and May 5,2016 .e distributee to tM ,May 5 a.12,2016Publish 2
HAVE
ARTICLES
ORGANIZATION
THE A)111Vi 18 Glendale
01 Aprll221 Pettish T28 Em May Star
t 2016 FOPGAN 021100 1Iit VMawgvel Issued.00,0000.or(tiny& NOTICE TO CREDITORS
HAVE OF THE shareholders.e -110 0 es'o.'02 Isar P.fic o.
"" TION COMMIs1ION FOP WNIZATION ARTICLES OF ORGANIZATION ARIZONA CORPORATION PORATION COMMISSION FOR B.The rec1 non M co eti ton c.f.pldr??MAP, mos O.Asir.
R INVESTMENT HAVE ARIZONA CORPORATION IOEION FOR ARIZONA CORP THE OFFICE
THE
TnIt2220re9gnn Nap# Wapan ,PN;n°Sw�,SBAYt2aa4t
• Y .VES INTHED F NT Name SEMI SYSTEMS.Iiac. sdury Wm.'tm�bsrg ung
GRROODUP.TPRACTICAL THEORY of drectors V 0m•pr8001N l�eone.l inc..- ASImou L6 AAwoeleOs,PLC
ees z:'''''
TM R II Ofrra Is: PHOENIX ELECTRIC9LLC. ems. 1�N SCREENING LLC. The adWessq Ma reg.teree off.s: pin ta am,e1s°'C go.gee
"o'er"
2522 est ee OIs Erre early directors
repr°try 1p AM..
2012 NP14tn t he address of the Names CENTRAL` ter...aw Re5131 W Joan De Arc gsmree Onka H: 100120.228The name of 1536 t 1m.
iMAemesaO Dry Agent.: "=utl0re°Oke cnekap to box meletl"I Nepe" m
rn
The Narne)0 Statutory Agent le: Statutory Agent.: The Nom22 Di TT.StatuloN 00 ls: Damp Wast"R9d5m Drive ba�°"ewt10 w Aar e"e vo 6u t Mx ACIOO Guardian C.f.i..
04 ogeNer w"n any eneganmant,le
x,85016
MI
reregan AZ 6536°b"O" (sl named nwanpsexe with Ancona law. P91,",""?.
aopuie M""?.n
2.15 AZ 8236 01000 PRd hooenni8 Wx.AZ 85036 III Gene...31 VV°.8an 5304 Avarl ecteel12 ^.Llm�rad Lieb'"ion°Tn)arrei OIi7,a.an q E SUPERIOR JO0A0a OF THE STATE OF
Glendale, III ONA
ksaf,gement o1 t"a Limited Liability Company Is Management Hat Company In M 9 a°men..aP^ only o^•LA, bLA RAN OR THE COUNTY OF MARICOPA
a 61ea'T, "sego or m•nagerse esc ed T° qr es .c ml¢ol 1M1e„'„t,e0 C S =0,s 0,me co NO NOTOBCPDITOR52
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Me aWT"eay E00VOI0*2LLC.,00mM, veva w lea Ie1" rector m the 012215 nPUe2Ba Co its
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2802 N 2ot0 0 peva. Glendale,AZ 85904 40d64 west BS'eery Lana n root w a"inmel tic r are or. AN.Schwartz tam loner
Su011d Meme Frere menage ember Publ•n The Glenda Mar Marengo.
AZ6 II)1 an00 autmrxepd bakruupttccyy trwtn. G .aml•po-
x AZ 65016 LUIm=" A.21.28°M MEW 5,2.6 B"'wno]West Pee'R"oLa�Drrve 4n oma Ico daumoe"n1. fiduciary. GRACE MANGANO,re N
Publish
TMaGlendale l f20 Plwenaihe GleMala Star OF ORGANIZATION 24927
an AZ 8 391 m Asn 102 cIn,?,LI'ter A"Adult.
R. v
Apia 2r,28 and Mav5,2016 ARTICLES
HE FFICE OF THE n G . May5.20.18.2019 • A� §14-9103.raga.hhareb
ARTICLES OF ORGANIZATION ON COMMISSION FOR 2Png 2l�2B algB°Ny52016 b 99 kWgableT.0 entirety°1mr
FRED IN THE OFFICE OF THE a N HAVE BF A DICEES OF DISSOLUTION OF q 9x88 as e"�nee.Peevo.reestta in dated OeremMr
n 2ZONA CORPORATION COMMISSION FOP HAVE6EN FILED IN THE OFFICE OF THE Name,POOL REMODEUFG BROTHERS,LLC. RTILES OF ORG0NIZATION LOPMENT COMPANY,INC. pep ,3201 s+M away on MU8. 16
ARIZONA CORPORATION COMMISSION FOR AVE SEEN FILED
THE OFFICE OF THE 1,Entity N..-9^mO axe,renamm....R.. Virgins MSerypno*aay.a.ThomasR Manger
sHADOWGRAFF SCREEN BPECIAUST. Tare etlea+s of ma registered office la P nOx COMMISSION FOR Ns wit, serveon Trustees n ca -
SSm Nva 2 A 0 C.File umber:OMPPNV,1NCms ble Trust dated December 8,1558 u
L0,0 PnoxO,aMe5035 A SMOKE SHOP,LLC. °C rely on Sesta
O The Register.arca Is, The Address
Of RegiateredpMee.: nary Mea le, Name:THE POPLAR 1079320 ie e,1 Pp10at°gllmppeatarsloeeien vTigslJCeted bar
8550 N 91sst Ave Quer C^°'^•erlos P Snpez EReyste.Office la: a l lxaparakon: gtt
'thaw..' 85052(11 Suite Sd 808 W.McM2ntl Ave 000 N et Ave a 06/0111889 re6 Mangenann e..a.restated i". n
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5"A'e %Wp~a°re Stat..ggmis 01 Agent aOLIa Clearance Certificate I eI2°n�7sclzhi.= InorT.a stateor
United States CwpwWOon AA°ma 6rT0 an c to Icadificete° u rvs ns w e r°
Phoenix, 85051 a.,Az 853io2"a of.Armada Uab0IiN Company Is .0 Na. 210 lndteck onto one box pee 104 60 ms a0 e.%mgM2 w.....,a0 n,001eane
6802 w. III meneger°r Bmanageen The names of Ia1w more nlomat.. mise banded on c ,f ce
Rna"av'gaee o�eTMakneLiraers role�rvemOs bs1 Era t �aagement O Tne Llmliltee usbiiiry Company u .ex mem LlebaN company IN Som 10 o 5,dissolution te nr z11 equiree p Cert . 1000,bM
ne0:2 re agw,ea rI Iners Names O Enc n W.
arson W San A z..morn.,rM Mem s.r Nemea o1 Eecn r oro s o1 me nm y com R stmHe
APaso rawer R '01 WB MAMem • 2 ro n� me olfterfM hlicetbn of
3602 W..neare Sanchez.. ria h. m 1 dv ., M
Romani
VA 20:35
ap
NOTICE OF NOTICE OF NOTICE OF ii , dma0 C 11 m 01a* yW D M06 anken.d and 91.1.in„ .e
i HEARING "HEARING _HEARING # ''''''''''T'''''''''''''''"' "
_ '. -.. APrIOIFe of oRGgN ZATwx nes not N.40th Street RespxnuN sub env of Pyr x016.
I THE THE QM2000
Asst
AA"RONAECoRPOFIunoN cOMMISsw`x wP TB"Ce 'I 1 °
NOTICE OF PUBLIC HEARING 170 HOFTOV10100 MBLES LLL. eve—.)I 2.pitpnbxa ..T ATOO).o N e
bgima M
Notice is hereby given that a public hearing will be held on Monday.May 23.2016,al GOO a.m.in the first floor °01, re'OXice° checked u usteap°9i n0e KnnUexpegam
lobby of the Glendale Municipal Complex,58511 West Glendale Avenue,Glendale,Arizona,regarding the proposed ��evn9�is °Nee o"9 Ie0the CH.°n. Oases tM 11 •0 d 6mgXt....-
issuance
by The Industrial Development Authority of the City of Glendale,Arizona(the'Authority)of one or more 0 M statutory Agar,is: of 1 .
of its Revenue and Refunding Bonds(Glencroft Retirement Community Prolecl),Tax Fxempl Series 2016,to he Nst,,,1Ave Ii Apao' by' 00907 Ft
ped in n aggregate principal amount not to exceed 522,000,000(the "Bonds")at the request oI and for the benefit Gleneai 2265306 a without norenaeiwed Ern nems have been W 10 a „pe tl a 1St my APnI
iss a s�nel approval ho e dna sheen,. P?n xWash ce▪'..'rz
of,Friendship Retirement Corporation("FRC),Glen ro11 Towers I,Inc,("Glen P Towers')and Sarah's Place, M L;ma20 ua 1 pr'°°lo agnNmesxhon. ,ne,v 2sfiXes 710"0
Inc.("Sarah's Place"and,together with FRC and Glencroft Towers,the"Borrowers"),each an Arizona nonprofit seater. alga pr 010nagwe tyrre15 re=It 0x 105.11001 011010)I°Mm.go n 0i00�1, pia Eap
B P and each member °section 5020 A heea' ...'PUL
corporation and an organization described in Section 500010)of the Internal Revenue Code of 1986(the"Code").
each
manager
or per.01 interest n o1 Approve n.shaman. a.voting groups. 0020 E.121 e0d,.4,100
The proceeds of the Bonds will be used to make a loan to the Borrowers and used to(a)refund and refinance all or operswns°n°Z p I. v=oat comma a s.a az.trerl pr 10•gnNpreAttorney.0,0.00_00,0Grace Mangan
at m sror crc2 Mangano
a portion of the Authority's$5,780.018)original principal amount Variable Rate Senior Living Facilities Revenue Bonds „B1n,A,,�a"ager 6a622ved by vonipooI»,onpcomye.nom- M0. �
re.l'1000C1M 121 blank8 mast M Clad ...we 03.3
(Friendship Retirement Corporation Project)Series 1997(the"Series 1997 Bonds');(b)refinance a taxable loan in suietaee3 of Ann MeHill scar
the original principal amount of$3,523,2(X)issued to Glencron Trovers and Moored by the Department of Housing and ebbroEbM20o050su' Total o1BNvera.or Matwerebe..ICe.for x20 aI°1 .1 Gallows
m°6006
Urban Development(the"HUD Loan');(c)refinance a taxable loan in the original principal amount of$3,360,0(X) 0061 z1,28 as Mey s,x116oad
:0I nI°:1000 = r loon my Iv LLi�holo^R�
clfHOF 1fANIZAT2A 2016
sued to Sarah's Place and Insured by the Federal Housing Administration(the"FHA Loan");(d)pay or reimburse the HAVE .31 THF OFOOE OFTHE s'2 Val Gr Pia each Nam bMpw toe Y
Borrowers Mr certain related entitles)for the t of,or refinance certain taxable Indebtedness of lie Bo rowers AR P0-7.eDMMMSION FOR TIN mita wozl 5
payment R v'rig qw Re g groups x rrwre sate
(or certain related entities)used to finance,certain costs of constructing,renovating,remodeling and equipping ameULTIMATE GLOB1LSPORTS LLL ;CY69 complNeS70 PERSONA.
certain senior living facilities of the Borrowers,or certain related entities,known generally as Glencroft Retirement eA esoltha R2yNeeel arae a:
6501mr3ll01rOr aY NO IC
Community located at 8611 and 8641 North 67'"Avenue,8620 and 865()North 65th Avenue,651(1,6540,6620,66S(1 a eszss 275 SLSTran1 lw ..I g N 3
and 6670 West Butler Drive,and 6511,6541,6621 and 6651 West Able Avenue,in Glendale,Anzona(collectively, Ie- w .pp )' _ i 1,,,,..n.,
the"Cam g pg ,,,Te,n i,s"1 r5RA2l Agent ores i otda•mwa1: _
Rud),including, limitation(i)the renovation and expansion of the basemen)of the building locatedcheckedPERSONAL NOTICE
rooms and y Span STATE OF NORTH CAR1wNA
at 8611 North 67th Avenue to house a wellness center,activityd a library.(ii)the renovation of independent 0nseeM 2265254 II per�wpye ne d eu°i°r`e wpaa g ba°Io'w, north OF CARTEREf
living units known as the"Casual"located a165(0,6540,6620 and 6650 Wcst Butler Drive,and 6511,6541.6621 and o rM m''m n b:L..00011e,nyaplb s°o e°„a E ooy 20l. o 101100 01 eEWaKKDr JUsr.
6651 West Alice Avenue,(iii)construction of an approximately 194 square foot addition to Providence Place located Re„ re. I '15-JT-54
PProx,ma y q Ma anw leq Member 2 7 08)8.7 with by written 0 1101120 approval FILE FOR TERMINATION OF PARENTAL
Ill 8641 North 67th Avenue to house rehabilitation services and the renovation of other areas within Providence Place, at gin Jaetn,awm r n re a
'1,2,1,,E01ee"0ROV"ias.''5 0 sifts non required '=wparetiorre
GIOS
(iv)the renovation of the main Campus dining room located at 6620 North 65th Avenue,including the constructionre=x.e�n�"rB.z cgDmMlauDEN o��scoTT ARRowwoW
of an outdoor amphitheater space and an approximately 74 square foot expansion,(v)the replacement of iwo cooling •.,clNAsr; a for-prof50 00 010y1"na,:N�,eo0°"e 1;g 000 20100
towers for the Campus,(vi)completion of a Campus m-paving project,and(vii)the mnovation and remodeling of as..1,s a.May 0.0 010 ne MWwE0 Na1lanm e1^�: my",ai:cne
6.Noeebt of.ro
,,l00).pn r.,o,°n Itl KE NOTI E6metaW dl g we.°rrelielagai12
other existing facilities located on the Campus(collectively,the"Pr jeer');(e)fund any required reserve funds;(I)pay rargviES of Mkettlarcln 85 rhe net assets of tre crrp r,.remain- as 10 ren Ni. e• e. bon.TM
interest on the Bonds,if an (g)pay certain p g EN`PORATIONCOMMsmoSFORMm aster w'emiag up a,000,0 NbNee m tre re OI aver s N 0 lenbi:An
capitalized y:end lain ez Stiles relating to issuance of the Bonds. NAEcoa w se, °i^W which tMvynionYr seeks 1m"°maF
The ds of the Series 1997 Bonds were used amon Cher things,to refinance(i)We Decd of Note dated p pmnwntred mrsye mlaal r.Mn or"it" g
proceeds g o mem ENTERTriINMENT,A. aien,e o wm dl:miny ndlea°M1 Jure:.
April 1977 in the 'til ) mount of 51,981,700(ii)the Industrial Development Authority of the County a .00olm e TThenoar ncorporation 2, under a 016mdupon y°urreihne 0Mmtre trr41;
p ge a Revenue Boa a P Y tY a Reyetx.l3nke ie,: ry ti,,,,T I aM 4 se�,7°garmt v"win eppN to me
of Maricopa Mortgage Bonds(Friendship Retirement Corporation-FOIA-Insured Project)Series 1981 in s 111111_ wev Padwr.1 el n i�M.ors BSor a,,,pe,°'N"°olrm b kgnal str"w• 5Ih sla of May.2016
the original principal amount of$1,750,1%)0 and(m)the Industrial Development Authority of the County of Mancopa ors oi Armies PiidndreoA La snorer
Industrial Development Revenue Bonds(Friendship Retirement Corporation Pro)e01)Series 1984 rn the original y '"oy A er.- cof ore bV x 1945
principal amount of$5,000.000,the proceeds of all of which were used to finance the acquisition,construction and 1I 2 e Vow a howl 50leder penalty w pe)Wn tthhat 12.0
Marehead 2 CEV.kNSC 2028557
e4111Pping of certain senior living faclhtes at Glencroll Retirement Community,including Glencroft Villa Apartments, no, rrro ,e,r tc1Lo`000a:nNnn001 ebvemann'. 8 0Bs3�a0
consisting of independent and assisted living apartments,and Glencroft Cam Center(now known as Providence Place), a x • wines 01 Exit a. m
�I MdP
a slog care fatality e10
nrlelyiu i'��mam2T outs " y_ j, t e,t� /�C- j
n The proceeds of the HUD Loan we used,among other Ihings,to refinance certain loans issued to Glcnerolt a 01 Ja a maypenwev I 1 k oa eu160 oma80''''"°""'Infbl 4NOTICE OF
Towers by the Department of Housing and Urban Development,the proceeds of which were used to construct and 8525, ;ion orae of me s HEARIN�#
equip Therincluding The Towers at Glennon,consisting of independent Irving aParlments,and Towers Assisted May 1sEiit
d 'Yw
Living,consisting f assisted living apartments 11 ry h „
The proceeds f the FOIA Loan were us d,among other things,to finance the costs of constructing and equipping ) ARTICLES OF Don cOOFNT`AARIING
Sarah's Place. V memory care un-1 0 zo s COUNTY OF 050KINGJUVENILE DEPARTMENT
The initial Aerators 01 the facilities being financed and/or refinanced with the proceeds of the Holds DISSOLUTION .i ND " AANm
are the Borrowers.Thefacilities to be financed d/ refinanced with the proceeds of the Bonds are located 00 the 6 NOTICE • E IEu001
approximately 34-acre Glencroft Retirement Community campus a18611 and 8641 North 67^Avenue,8620 and 8650 DISSOLUTION OF I A` ' F sSANDERS
ARTICLES OF N R'
North 65th Avenue,6510,654(1.6620 6650 and 6670 West Butler Drive,and 6511,6541,6621 and 6651 West Alice F i) _TO CREDITORS o9 rz
Ave n Glendale,ArizEntrry eatfi s _ c lxwde.Ge pre 1 .e M ,.v r snare Amon
- _, Alleged u
The Bonds are limited obligations of the Authority payable solely from revenues,receipts,and security pledged to !Awls"c Number. NOTICE.CREDITORS m me
their payment.The Bonds will not constitute an indebtedness or liability of the Authority,the City of Glendale,Arizona ?eon61 ,00 ° Le °dew Y
MPy
eo°Ii Norte 67th d 002 PL R1 aaawlle Court a l n
(the"City'").the Slate of Arizona(the"Slate"),or any political subdivision of the Slate,and neither the faith and n aamwt rl wee ealMn:en- 0
OPeel Ai 0000 RCW 2016 pursuant thee
credit nor taxing power of the Authority,the City,the Slate or any political subdivision ache Stale has been pledged to wm° N, a m,vcIoo 20, 500002+1-1004
payment of the Bonds.The Authority has no taxing power. rzencdlaF-`1,:iititnce 2o;'''''Isx Inswc.na „ a.B=°pe,,T., .e.eam ,,e DR mAdrloN, 00„,, r,,,.
The public hearing is required by Section 147(f)of the Code.At the time and place lel for the public hearing, sp2Ix 11 T"°meow,wail rime a 0.tmete c H TA of c°;q s.N.o;Cato..
interested persons will be given the opportunity to express their views,both Orally and in writing,on the proposed ,$,',4",„7'41 00 an5er ne"io 0 o1i"n4mosine "wnuaTHE C PDUFT 02 E STATE
issuance of Bonds,and the location and nature of the proposed Project to be financed and the refinancing of the Series ESTATE`OF ALT05 ITEWAAYNE ei42 00 ALTOH so.00▪ u0 ere..or,e.or.a.,
li
997 Bonds,the HUD Loan and the FILA Loan,Written comments may also be submitted to the law firm of Ryley e.nonprofit corporation
mM1e0,0,sitenoea ovotactivities. CREDITORS
Bea a petition�'na petition wi
wit(Note-agnates mu a 5y Of ker a NOTICE TD
ep�1La r ro M Mr trkw"wa1N o°O
Garlock&Applewhite,Attention:William Wilder,One North Central Avenue,Suite 12(X),Phoenix,Arizona 85004, malol we n ,con ren. E s H GIVEN I.TRACI BELL IP' t ma
RE Glennon Retirement CommunityProject.until twenty-four 24 hours before the time and date of the hearing. 6°'number Personal IIe?n1;a se ala I: S B0 Anton 21,x519"
Y ( ) B
well number orrben„ingw Ivan,2cemrcaII _ pbeen ersons
bevel Rebaaim•venin a w
This notice is dated May 5,2016. a..,:„omomt° meat. t pod... Ei Com gig
nrM G1.neale sta, has not commenced business w has not issweel this"°are`e ni sixty days ankh`e"is 1pjietgww°,or"1st StFtm'w Deputy m'CtcHi x
Mav s.2116 stabe tement 'Nun 215,00 star
goes not have members erMed to vote on da .med nY deliv tie or marim a .s Mey s5,a:.15,2016
THE RECORD REPORTER
SINCE 1914
2025 N THIRD ST#160, PHOENIX,AZ 85004-1425
Telephone(602)417-9900/Fax(602)417-9910
Publishing for Maricopa
and Pima Counties
ADAM LEVIN
MILLER ADVERTISING AGENCY INC
5901 N CICERO AVE #612
CHICAGO, IL - 60646 RR# 2876257
NOTICE OF PUBLIC HEARING Avenue,including the construction of
Notice is hereby given that a public an outdoor amphitheater space and
hearing will be held on Monday, May an approximately 74 square foot
23,2016,at 9:00 a.m.in the first floor expansion,(v)the replacement of two
lobby of the Glendale Municipal cooling towers for the Campus, (vi)
• Complex, 5850 West Glendale completion of a Campus re-paving
Avenue,Glendale,Arizona,regarding project, and (vii) the renovation and
the proposed issuance by The remodeling of other existing facilities
Industrial Development Authority of located on the Campus (collectively,
y the City of Glendale, Arizona (the the "Project"); (e) fund any required
AFFIDAVIT OF PUBLICATION -Authority)of one or more series of reserve funds; (f) pay capitalized
its Revenue and Refunding Bonds interest on the Bonds,if any;and(g)
(Glencroft Retirement Community pay certain expenses relating to
Project),Tax-Exempt Series 2016,to issuance of the Bonds.
be issued in an aggregate principal The proceeds of the Series 1997
amount not to exceed $22,000,000 Bonds were used, among other
Reference#: (the-Bonds)at the request of,and for Things,to refinance
the benefit of, Friendship Retirement (i)the Deed of Trust Note dated Apnl
Corporation ('FRC"), Glencroft 4, 1977 in the original principal
Towers I, Inc. ('Glencroft Towers") amount of$1,981,700,
Notice Type: MN-MISCELLANEOUS NOTICE and Sarah's Place, Inc. ("Sarah's (ii) the Industrial Development
Place" and, together with FRC and Authority of the County of Maricopa
Glencroft Towers, the "Borrowers"), Mortgage Revenue Bonds(Friendship
Ad Description: GLENCROFT RETIREMENT COMMUNITY PROJECT each an Arizona nonprofit corporation Retirement Corporation - FHA -
and an organization described in Insured Project),Series 1981 in the
Section 501(c)(3) of the Internal original principal amount of
Revenue Code of 1986(the-Code'). $1,750,000 and (iii) the Industrial
The proceeds of the Bonds will be Development Authority of the County
used to make a loan to the Borrowers of Maricopa Industrial Development
and used to Revenue Bonds (Friendship
(a) refund and refinance all or a Retirement Corporation Project)
portion of the Authority's $5,780,000 Series 1984 in the original principal
I, Heather Clayton ,am authorized by the publisher as original principal amount Variable amount of$5,000,000. the proceeds
a gent to make this affidavit. Under oath, I state that the followingis true and Rate Senior Living Facilities Revenue of all of which were used to finance
9 Bonds (Friendship Retirement the acquisition, construction and
correct. Corporation Project)Series 1997(the equipping of certain senior living
"Series 1997 Bonds");(b)refinance a facilities at Glencroft Retirement
taxable loan in the original principal Community, including Glencroft Villa
THE RECORD REPORTER is a newspaper of general circulation published amount of $3,523,200 issued to Apartments.consisting of Independent
Glencroft Towers and insured by the and assisted living apartments. and
Monday, Wednesday and Friday except legal holidays, in the County of Department of Housingand Urban Glencroft Care Center(now known as
Maricopa (also publishing for Pima County). State of Arizona. The copy Development (the "HUD Loan"); (c) Providence Place), a nursing care
refinance a taxable loan in the onginal facility.
hereto attached is a true copy of the advertisement as published on the principal amount of$3,360,000 issued The proceeds of the HUD Loan were
followingdates: to Sarah's Place and insured by the used, among other things, to
Federal Housing Administration (the refinance certain loans issued to
"FHA Loan");(d)pay or reimburse the Glencroft Towers by the Department
05/04/2016 Borrowers(or certain related entities) of Housing and Urban Development,
for the payment of, or refinance the proceeds of which were used to
certain taxable indebtedness of the construct and equip The Towers,
Borrowers(or certain related entities) including The Towers at Glencroft,
used to finance, certain costs of consisting of independent living
——-— 'constructing, renovating, remodeling apartments, and Towers Assisted
i and equipping certain senior living Living, consisting of assisted living
facilities of the Borrowers, or certain apartments.
V" '"' _ �,`�—��_ related entities, known generally as use proceeds t the FHA Loan were
�.. Glencroft Retirement Community used,among other things,to finance
located at 8611 and 8641 North 671h the costs of constructing and
Avenue, 8620 and 8650 North 65th equipping Sarah's Place,consisting of
State Of Arizona) Avenue.6510,6540.6620,6650 and memory care units.
)SS. / 6670 West Butler Drive, and 6511, The initial owners or operators of the
CountOf Maricopa6541, 6621 and 6651 West Alice facilities being financed andlor
y p ) Avenue, in Glendale. Arizona refinanced with the proceeds of the
(collectively,the'Campus"),including, Bonds are the Borrowers. The
Subscribed and sworn to before me on the 4th dayof May,2016 without limitation. (i) the renovation facilities to be financed and/or
y� and expansion of the basement of the refinanced with the proceeds of the
building located at 8611 North 67th Bonds are located on the
Avenue to house a wellness center, approximately 34-acre Glencroft
activity rooms and a library, (ii) the Retirement Community campus at
renovation of independent living units 8611 and 8641 North 67th Avenue,
known as the 'Castles" located at 8620 and 8650 North 65th Avenue,
6510, 6540, 6620 and 6650 West 6510, 6540, 6620, 6650 and 6670
Butter Drive, and 6511. 6541, 6621 West Butler Drive, and 6511, 6541,
�\ _ and 6651 West Alice Avenue, (iii) 6621 and 6651 West Alice Avenue,in
Q ` , AAJ3\(\9 construction of an approximately 194 Glendale,Arizona.
square foot addition to Providence The Bonds are limited obligations of
Place located at 8641 North 67th the Authority payable solely from
Avenue to house rehabilitation revenues, receipts, and security
services and the renovation of other pledged to their payment.The Bonds
`CATHY L FISHER •
areas within Providence Place,(iv)the will not constitute an indebtedness or
d'+'"b
renovation of the main Campus dining liabilityof the Authority, the City of
In lb
room located at 8620 North 65th Glendale, Arizona (the "City"), the
/VIM*; -Notary Public—Arizona
Maricopa County
•me.. Expires 07/31/2016
III I li ii 0 II IIIiII0 ! II!IH I I II IIII!I II III
State of Arizona(the"State"),or any
political subdivision of the State,and
neither the faith and credit nor taxing
power of the Authority, the City, the
State or any political subdivision of the
State has been pledged to payment of ,.
the Bonds. The Authority has no
taxing power.
The public hearing is required by
Section 147(f)of the Code.At the time
and place set for the public hearing,
interested persons will be given the
opportunity to express their views,
both orally and in writing, on the
proposed issuance of Bonds.and the
ocation and nature of the proposed
Project to be financed and the
refinancing of the Series 1997 Bonds,
the HUD Loan and the FHA Loan.
Written comments may also be
submitted to the law firm of Ryley
Garlock & Apptewhite, Attention:
William Wilder, One North Central
Avenue,Suite 1200,Phoenix,Arizona
85004, RE: Glencroft Retirement
Community Project, until twenty-four
(24)hours before the time and date of
the hearing.
This notice is dated May 4,2016.
5/4/16
RR-28762578
WEDNESDAY,MAY 4,2016 THE RECORD REPORTER PUBLIC NOTICES,PAGE 67
602-417-9900 PUBLIC NOTICES FAX 602-417-9910
Jefferson,Phoenix.Arizona 85003, PURSUANT TO RULE 65,ARIZONA FEET,TO THE EAST LINE OF THE 67th Avenue to house a wellness The Initial owners or operators of
on 6/6/2016 at 10:00 AM of said RULES OF CIVIL PROCEDURE, NORTH HALF OF THE NORTHWEST center,activity rooms and a library,(ii) the facilities being financed and/or
1,ACCORDIILOT NGATO BOOK SCOTTSDALE OF THANPI NS 00HEPSALE MOUNTAIN QUARTER OF THE SOUTHWEST LEGAL NOTICES the units known von of s the�Casit s'locatedendent Bondsaedwith the the BorrowerscThe facilitieeds of he
es
MAPS, PAGE 42, RECORDS OF STANDARD TIME OF THE LAST QUARTER OF SAID SECTION; at 6510,6540,6620 and 6650 West to be financed end/or refinanced
MARICOPA COUNTY, ARIZONA BUSINESS DAY BEFORE THE THENCE LEAVING SAID PARALLEL Butler Drive,and 6511,6541.6621 with the proceeds of the Bonds are
Per A.R.S.Section 33-803(A)(2)the SCHEDULED DATE OF THE SALE, LINE,ALONG SAID EAST LINE, and 6651 West Alice Avenue,(ili) located on the approximately 34-acre
successor trustee appointed here OR YOU MAY HAVE WAIVED ANY S 00 00'31"W,A DISTANCE OF NOTICE OF PUBLIC HEARING construction of an approximately 194 Glencroft Retirement Community
qualifies as a Trustee of the trust DEFENSES OR OBJECTIONS TO 14942 FEET,TO THE SOUTHEAST Notice is hereby given that a Public square foot addition to Providence campus at 8611 and 8641 North 67th
deed in the Trustee's capacity as a THE SALE UNLESS YOU OBTAIN CORNER OF THE NORTH HALF OF hearing will be held on Monday, Place located at 8641 North 67th Avenue,8620 and 8650 North 65th
member of the State Bar of Arizona. AN ORDER,THE SALE WILL BE THE NORTHWEST QUARTER OF May 23.2016.at 9;00 am in the Avenue to house rehabilitation Avenue,6510,6540,6620.6650 and
ACCORDING TO THE DEED OF FINAL AND WILL OCCUR at public THE SOUTHWEST QUARTER OF first floor lobby of the Glendale services and the renovation of other 6670 West Butler Drive,and 6511,
TRUST OR UPON INFORMATION auction to the highest bidder in the THE SOUTHWEST QUARTER OF Municipal Complex, 5850 West areas within Providence Place.(iv)the 6541.6621 and 6651 West Alice
SUPPLIED BY THE BENEFICIARY, Courtyard,by the main entrance of SAID SECTION;THENCE LEAVING Glendale Avenue,Glendale,Arizona, renovation of the main Campus dining Avenue,in Glendale,Arizona.
THE FOLLOWING INFORMATION IS the Superior Court Building.201 West SAID EAST LINE. ALONG THE regarding the proposed issuance by room located at 8620 North 65th The Bonds are limited obligations
PROVIDED PURSUANT TO A R.S. Jefferson,Phoenix,Arizona 85003,on SOUTH LINE OF THE NORTH HALF The Industrial Development Authority Avenue,including the construction of the Authority payable solely from
SECTION 33-806(C):Street address 6/6/2016 at 10 00 AM of said day A OF THE NORTHWEST QUARTER of the City of Glendale,Arizona(the of an outdoor amphitheater space revenues, receipts, and security
or Identifiable location' 8713 E. PORTION OF THE NORTH HALF OF OF THE SOUTHWEST QUARTER "Authority')of one or more series of and an approximately 74 square foot pledged to their payment.TheBonds
JACKRABBIT ROAD SCOTTSDALE, THE NORTHWEST QUARTER OF OF THE SOUTHWEST QUARTER 'ts Revenue and Refunding Bonds expansion,(v)the replacement of two will not constitute an indebtedness
AZ 85257 A PN.:173-70-170 Original THE SOUTHWEST QUARTER OF OF SAID SECTION.N 87 54'44" (Glencroft Retirement Community cooling towers for the Campus,(vi) or liability of the Authority.the City
Principal Balance:$200,000.00 Name THE SOUTHWEST QUARTER OF W,A DISTANCE OF 614.63 FEET, Project).Tax-Exempt Series 2016,to completion of a Campus re-paving of Glendale,Arizona(the"City'),the
and address of original trustor:(as SECTION 18,TOWNSHIP 1 NORTH, TO THE POINT OF BEGINNING. be issued in an aggregate principal project,and(vii)the renovation and State of Arizona(the"State'),or any
shown on the Deed of Trust)NORMA RANGE 4 WEST OF THE GILA AND CONTAINING 91,8251 SQUARE amount not to exceed$22,000,000 remodeling of other existing facilities political subdivision of the State,and
SALDANA,A MARRIED WOMAN. SALT RIVER BASE AND MERIDIAN, FEET OR 2 11 ACRES MORE OR (the"Bonds')at the request of,and for located on the Campus(collectively, neither the faith and credit nor taxing
AS HER SOLE AND SEPARATE MARICOPA COUNTY, ARIZONA, LESS SUBJECT TO EASEMENTS, the benefit of,Friendship Retirement the'Project');(e)fund any required power of the Authority,the City,the
PROPERTY 8713 JACKRABBIT MORE PARTICULARLY DESCRIBED RESTRICTIONS AND RIGHTS Corporation ('FRC'), Glencroft reserve funds; (1)pay capitalized State or any political subdivision of the
ROAD SCOTTSDALE, AZ 85257 AS FOLLOWS COMMENCING AT OF WAY OF RECORD.Per A.R.S. Towers I,Inc.("Glencroft Towers')and interest on the Bonds,if any;and State has been pledged to payment
Name and address of beneficiary; THE SOUTHWEST CORNER OF Section 33-803(A)(2)the successor Sarah's Place.Inc ('Sarah's Place' (g)pay certain expenses relating to of the Bonds.The Authority has no
(as of recording of Notice of Sale) SAID SECTION 18,A MARICOPA trustee appointed here qualifies as and,together with FRC and Glencroft issuance of the Bonds. taxing power.
WILMINGTON SAVINGS FUND COUNTY DEPARTMENT OF a Trustee of the trust deed in the Towers,the'Borrowers'),each an The proceeds of the Series 1997 The public hearing is required by
SOCIETY. FSB, NOT IN ITS TRANSPORTATION ALUMINUM CAP Trustee's capacity as a member of the Arizona nonprofit corporation and Bonds were used, among other Section 147(f)of the Code.At the
INDIVIDUAL CAPACITY BUT SOLELY FLUSH,WITH STAMP RLS 36563. State Bar of Arizona.ACCORDING an organization described in Section things,to refinance time and place set for the public
AS TRUSTEE OF THE PRIMESTAR- FROM WHICH THE WEST QUARTER TO THE DEED OF TRUST OR UPON 501(003)of the Internal Revenue (i)the Deed of Trust Note dated hearing,interested persons will be
H FUND I TRUST 5680 Greenwood CORNER OF SAID SECTION, A INFORMATION SUPPLIED BY THE Code 011986(the'Code"). Apol 4,1977 in the original principal given the opportunity to express their
Plaza Blvd.Suite 1005 Greenwood MARICOPA COUNTY DEPARTMENT BENEFICIARY,THE FOLLOWING The proceeds of the Bonds will be amount of$1,981.700, views.both orally and in writing,on
Village CO 80111 NAME,ADDRESS OF TRANSPORTATION ALUMINUM INFORMATION IS PROVIDED used to make a loan to the Borrowers (II) the Industrial Development the proposed issuance of Bonds,
and TELEPHONE NUMBER OF CAP FLUSH, WITH STAMP RLS PURSUANT TO AR.S.SECTION 33- and used to Authority of the County of Maricopa and the location and nature of the
TRUSTEE'(as of recording of Notice 36563. BEARS NORTH 00 05' 808(C)'.Street address or identifiable (a) refund and refinance all or a Mortgage Revenue Bonds(Friendship proposed Project to be financed and
of Sale)Eric L.Cook,a member of 53'EAST(BASIS OF BEARING), location'2423 S JOHNSON RD portion of the Authority's$5,780.000 Retirement Corporation - FHA the refinancing of the Series 1997
the State Bar of Arizona Law Offices A DISTANCE OF 2638 00 FEET. BUCKEYE, AZ A.P.N.: 504-30- orignal principal amount Variable -Insured Project)Series 1981 in Bonds,the HUD Loan and the FHA
of Les Zieve 112 North Central THENCE ALONG THE WEST LINE 00427 Original Principal Balance: Rate Senior Living Facilities Revenue the original principal amount of Loan.Written comments may also
Avenue.Suite 425 Phoenix,Arizona OF THE SOUTHWEST QUARTER 6227,700 00 Name and address Bonds (Friendship Retirement $1750,000 and(iii)the Industrial be submitted to the law firm of Ryley
85004 Phone Number.(602)688- OF SAID SECTION,NORTH 00 05' of original trustor(as shown on the Corporation Project)Series 1997(the Development Authority of the County Oarlock 8 Applewhite, Attention.
7420 SALE INFORMATION'Sales 53'EAST,A DISTANCE OF 989.25 Deed of Trust)ROBERT L KAY AND 'Series 1997 Bonds');(b)refinance a of Maricopa Industrial Development William Wider,One North Central
Line' (714)730-2727 or Website: FEET, TO THE SOUTHWEST TAMMY T KAY,HUSBAND AND WIFE taxable loan in the original principal Revenue Bonds (Friendship Avenue,Suite 1200,Phoenix,Arizona
www.servicelinkasap com Eric L. CORNER OF THE NORTH HALF OF 2423 S JOHNSON RD BUCKEYE. amount of $3,523.200 issued to Retirement Corporation Project) 85004, RE' Glencroft Retirement
Cook,a member of the State Bar of THE NORTHWEST QUARTER OF AZ Name and address of beneficiary' Glencroft Towers and insured by the Series 1984 in the original principal Community Project,until twenty-four
Arizona Per A .S.Section 33-803 THE SOUTHWEST QUARTER OF (as of recording of Notice of Sale) Department of Housing and Urban amount of$5,000,000,the proceeds (24)hours before the time and date
(A)(2)the successor trustee appointed THE SOUTHWEST QUARTER OF Wilmington Savings Fund Society, Development(the'HUD Loan');(c) of all of which were used to finance of the hearing
here qualifies as a Trustee of the trust SAID SECTION,THENCE LEAVING FOB,not in its individual capacity but refinance a taxable loan in the original the acquisition. construction and This notice is dated May 4,2016.
deed in the Trustee's capacity as a SAID WEST LINE. ALONG THE solely as Trustee for the PrimeStar- prinepal amount of 33,360.000 issued equipping of certain senior living 514/16
member of the State Bar of Arizona. SOUTH LINE OF THE NORTH HALF H Fund I Trust 5680 Greenwood to Sarah's Place and insured by the facilities at Glencroft Retirement
A-4569380 04/13/2016,04/20/2016, OF THE NORTHWEST QUARTER Plaza Blvd.Suite 100S Greenwood Federal Housing Administration(the Community,including Glencroft Villa RR-2676257#
04272016,05/04/2016 OF THE SOUTHWEST QUARTER Village CO 80111 NAME,ADDRESS 'FHA Loan').(d)pay or reimburse the Apartments,consisting of independent PUBLIC NOTICE
613,4120,627,5/4/16 OF THE SOUTHWEST QUARTER and TELEPHONE NUMBER OF Borrowers(or certain related entities) and assisted living apartments.and Pursuant to Code§61O4 of the United
RR-2884809# OF SAID SECTION.5 87 54'44'E. TTRUSe) (as
Lof recording
ec r ing 01 NatNotice for carte the txale payment 0f, or refinance
nf the Glencroft Care Center(now known States Internal Revenue Code of
A DISTANCE OF 40 02 FEET,TO A Providence Place),a nursing care 1986,the pudic is hereby notified that
NOTICE OF TRUSTEE'S SALE LINE THAT IS PARALLEL WITH AND the State Bar of Arizona Law Offices Borrowers(or certain related entities) facility. the 2015 annual return of Rim Institute
TSR 15-35673 Order#'140800182 40 FEET EAST OF THE WEST LINE of Les Zieve 112 North Central used to finance, certain cots of The proceeds of the HUD Loan were will be available for inspection during
The following legally described trust OF THE SOUTHWEST QUARTER Avenue,Suite 425 Phoenix,Arizona constructing,renovating,remodeling used,among other things.to refinance regular business hours at KATHRYN
property will be sold,pursuant to OF SAID SECTION AND THE POINT 85004 Phone Number'(602)688- and equipping certain senior livingcertain loans issued to Glencroft A. BRADLEY. PC. 14301 N 87th
the power of sale under that certain OF BEGINNING.THENCE LEAVING 7420 SALE INFORMATION'Sales facilities of the Borrowers,or certain owers by the Department of Housing Street,Suite 208,Scottsdale,Arizona
Deed of Trust dated 9/8/2003 and SAID SOUTH LINE.ALONG SAID Line. ( •714)730-2727 or Website. related entities,known generally as and Urban Development,the proceeds 85260,(480)584-3517,by any citizen
recorded on 9/112003,as Instrument PARALLEL LINE,N 00 05'53"E,A s rveelinkasI com Eric L Glencroft Retirement Community of which were used to construct and who requests inspection within 180
No. 20031277439,which was re- DISTANCE OF 149 62 FEET,TO A
Cook,a member Sf the State 58 3 located at 8611 and 8641 North 67th equip The Towers. including The days of the date of publication of this
recorded on 12/92015 as Instrument LINE THAT IS PARALLEL WITH AND (A zona Per A.R.S.Section 33-803 Avenue,8620 and 8650 North 65th Towers at Glencroft,consisting of Notice.The name of the principal
No.2015-0870168.in the office of the 180 FEET SOUTH OF THE NORTH here thesuccessorrrsttee f thappe
Avenue. 6510, 6540, 6620, 6650 independent living apartments.and Trustee of the Institute is Joan B.
County Recorder of Maricopa County, LINE OF THE NORTH HALF OF dere quathes as ta Trustee u the as at and 6670 West Butler Drive, and Towers Assisted Living,consisting of Norris.
deed the Trustee's capacity o a 6511.6541,6621 and 6651 West assisted living
THERE,/5 ACE!F YOU BELIEVEOTTHE NORTHWEST QUARTER OF member 459of the State Bar 4/0/2016, Alice Avenue,in Glendale.Arizona . 51M76
THERE IS DEFENSE TO THE THE SOUTHWEST QUARTER OF A-4569381 04/132016,04202016, The proceeds of the FHA Loan RR-2875639#
TRUSTEE SALE OR IF YOU HAVE THE SOUTHWEST QUARTER OF 042720105/042016 withoutvleimitatthe
"C()the)renincluding. were used,among other things,to
AN OBJECTION TO THE TRUSTEE SAID SECTION.THENCE ALONG 4/13 620.4/27,5/616 finance the casts of constructing and
SALE,YOU MUST FILE AN ACTION SAID PARALLEL LINE, S 87 53' and expansion of the basement of equipping Sarah's Place,consisting of
AND OBTAIN A COURT ORDER 32' E. A DISTANCE OF 614.40 RR-2864808# the building located at 8611 North memorycareunits
-
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SINCE 1914 ;« I_fi`.... ,�- ,.,,,a3„x