The Pima IDA is a conduit issuer of revenue bonds and none of the Pima IDA, the Board of Directors, Pima County, its Board of Supervisors, or the Pima IDA’s counsel is acting or will act as a municipal advisor, financial advisor or fiduciary to any other party involved in the issuance of any Bonds.  The Pima IDA will not provide any advice or recommendation to any Borrower or anyone on a Borrower’s behalf regarding the “issuance of municipal securities” or any “municipal financial product” and nothing herein shall be interpreted to the contrary. The Pima IDA is not registered as a municipal advisor and does not intend to so register.  

Nothing in or relating to the website of the Pima IDA, nor any action taken by the Pima IDA, nor any statement or document signed by any member of the Board of Directors, Pima County (as the Pima IDA’s governing body) or the Pima IDA’s counsel in connection with any issuance of the Bonds, is intended to provide, and shall not be construed as providing, advice of any kind to any Borrower with respect to the issuance of Bonds for purposes of 15 U.S.C. Section 780-4(e)(4)(A)(i).