SSS Academy Educational Facilities Bonds

At a glance

Industrial Development Authority approved issuance of up to $35 million Educational Facilities Revenue Bonds for SSS Academy
Bonds support arena facility construction and improvements at 2727 W. Bronco Butte Trail (District 2)
Funds for acquisition, construction, completion, equipping of arena facility improvements
Additional uses: debt service reserve fund, working capital, capitalized interest, costs of issuance
Passed unanimously 8-0

Project Details

Borrower: SSS Academy, Arizona nonprofit corporation and tax-exempt charitable organization under Section 501(c)(3) of Internal Revenue Code

Project Location: 2727 W. Bronco Butte Trail, Phoenix, Arizona

District: 2

Facility: Arena facility improvements to be used as educational facilities

Bond Amount: Up to $35,000,000 aggregate principal, may be issued in one or more separate taxable or tax-exempt series and subseries

Uses of Funds

Acquisition, construction, completion, and equipping of arena facility improvements
Funding debt service reserve fund
Funding working capital
Capitalized interest on bonds
Paying certain costs of issuance

Industrial Development Authority Authority

Phoenix IDA, except for certain housing bonds, can finance projects located anywhere in Arizona. IDA may issue bonds to finance projects outside of Arizona if out-of-state project provides benefit within State.

Planning and Approvals

Phoenix IDA Board previously resolved to issue Bonds at meeting held December 18, 2025. City Council approval requested for issuance proceedings under which Phoenix IDA previously resolved to issue bonds and to approve plan of financing for purposes of Section 147(f) of Internal Revenue Code.

Decision

Passed 8-0 on January 7, 2026 via Resolution 22361.

Yes (8): Hernandez, Hodge Washington, Pastor, Robinson, Stark, Waring, O'Brien, Gallego

Absent (1): Guardado

Log

2026-01-07 - City Council

Item 67: Issuance of Educational Facilities Revenue Bonds - SSS Academy Project (Resolution 22361) approved 8-0