Phoenix Suburb's $66M Sale Latest in Development Debt Wave

Williamson, Richard
March 2003
Bond Buyer;3/25/2003, Vol. 343 Issue 31600, p26
Trade Publication
In Arizona's Valley of the Sun surrounding Phoenix, the western suburb of Glendale is becoming a major center for bond-financed public projects. The willingness of Glendale voters to support capital projects made the city an attractive host for two major professional sports facilities that will help transform the West Valley into a burgeoning tourism and entertainment destination. While this month's groundbreaking for a 330 million dollars Arizona Cardinals football stadium was postponed by rainfall until April 12, 2003, construction is already under way at an adjoining site on an arena for the National Hockey League's Phoenix Coyotes. With the new Cardinals stadium, Glendale will take the annual Fiesta Bowl college football playoff game away from cross-town rival Tempe and is bidding for a 2008 National Football League Super Bowl that would provide a major economic boost.


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