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  • Supervisors approve final General Obligation bond issuance

    Dec 14, 2016 | Read More News
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    The Pima County Board of Supervisors on Dec. 13, 2016 approved the sale of more than $25 million in General Obligation bonds. 

    SweetwaterThe proceeds of the sale will fund numerous voter-approved projects, including $18 million for the new Animal Care Center, the Llano Grande Campsite on the Anza Trail, a drainage project for the Tohono O’odham Nation and the Southeast Community Park. 

    The authorization represents the final sale of voter-approved 1997, 2004 and 2014 General Obligation bonds. Combined, the three bond plans provided more than $860 million in funding for public infrastructure projects. 

    “Pima County’s bond program has been instrumental in building public infrastructure and improving quality of life throughout the County for more than four decades,” Pima County Administrator Chuck Huckelberry said. “The bond program stands as an example of how collaborations between community members, the County, cities and towns can provide for the betterment of the entire community.”

    The bond proceeds were used to fund flood-control projects, parks, historic preservation projects and to purchase conservation lands. The voter-approved spending also paid to refurbish public buildings, build libraries, construct public health facilities, fund affordable housing programs and to plan a modern animal care facility. 

    As of the end of fiscal year 2016, Pima County had an outstanding General Obligation bond principal of $345 million. By maintaining a 70-cents per $100 assessed value debt service tax and an aggressive repayment schedule, this debt will be reduced by half within four years and reduced to an estimated $17 million in 10 years. 

    Pima County voters have approved numerous debt-financing infrastructure improvement programs over the past 40 years. Voters authorized bond programs in 1974, 1979, 1980, 1982, 1984, 1986, 1997, 2004, 2006 and 2014. 

    An audit of Pima County’s bond programs ordered by the Arizona Legislature, which was completed in 2013, noted the programs represented a uniquely collaborative effort between the County, cities, towns and tribes.  The audit also found bond funds were used for voter-authorized purposes and followed the approval process for any necessary changes.

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