Ariz. Seeks Biotech Buildup

Williamson, Richard
April 2003
Bond Buyer;4/17/2003, Vol. 344 Issue 31617, p1
Trade Publication
Legislative leaders in Arizona are gathering support for the issuance of more than 400 million dollars in certificates of participation to make the state a major research center through the construction of 12 high-tech buildings on three university campuses. That funding scenario, which places no demand on the upcoming 2004 fiscal year, enhances the appeal of the debt, backers of the proposal said. Suffering the worst fiscal crisis in its history, Arizona's Legislature must bridge a one billion dollar revenue gap in the budget that begins July 1, 2003. At the University of Arizona, 182 million dollars of the COPs proceeds will be used to build a biomedical science and biotechnology building and a medical research building on the Phoenix campus of its Arizona Health Sciences Center and to expand its chemistry building in Tucson.


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