Arizona Debt Plans Squeezed in Session's Waning Days

Williamson, Richard
May 2003
Bond Buyer;5/28/2003, Vol. 344 Issue 31644, p4
Trade Publication
If the Arizona Legislature decides to try and stimulate the state's economy through the issuance of debt in the waning days of its session, it may face a choice between convention business or university research. Vying for state authorization are the 600 million dollar expansion of Phoenix's Civic Plaza Convention Center and 440 million dollar for state university research centers. With neither proposal requiring a legislative appropriation in the coming 2004 fiscal year, Senate president Ken Bennett said that the bills would not be considered until the budget is passed and approved by the state governor. The 440 million dollar for research facilities at university campuses would require legislative appropriations beginning in 2008 for certificates of participation or revenue bonds, but the facilities are expected to pay a major portion of their own cost through the development of new products and processes.


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