Arizona GOP's Budget Offers $530M of School Bonds

Williamson, Richard
April 2003
Bond Buyer;4/24/2003, Vol. 344 Issue 31621, p4
Trade Publication
A 6.2 billion dollar budget proposed by Arizona's Republican lawmakers includes 530 million dollars in borrowing for public schools but cuts Governor Janet Napolitano's proposed outlays for higher education and social welfare programs. Republicans maintain that Napolitano's 6.7 billion dollar budget proposal would likely have forced the Legislature to raise taxes for fiscal 2005.Senate President Jake Flake and House Speaker Ken Bennett claimed that Napolitano's budget would have created expenses that would have to be covered by the fiscal 2005 budget.Under the Republican plan, Arizona would not begin paying debt service on the upcoming COPS and revenue bonds until 2005.


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