Arizona Considering $128 Million Sale Leaseback of State Owned Buildings

Arizona Capitol Times - January 19,2004

Arizona's Governor Napolitano is proposing that the state sell $128 million in state buildings on leaseback arrangements to make the fiscal 2005 payment of the recent Ladewig tax refund settlement. The proposal is part of the governor's recommendations released Jan. 15 for the state to spend more than $7.2 billion from the general fund. The governor's recommendations carry a potential revenue shortfall of $310 million. The governor also proposes using revenue bonds for completing deficiency corrections work on state schools and building prisons and using lease-to-own agreements to build new schools. Sphere: Related Content