NOTICE OF HEARING ON PROPOSAL OF THE BOARD OF SUPERVISORS OF PINAL COUNTY, ARIZONA, TO INCUR A LONG-TERM OBLIGATION NOT SECURED BY THE FULL FAITH AND CREDIT OF SUCH COUNTY
For purposes of Section 11-391, Arizona Revised Statutes, the Board of Supervisors (the “Board”) of Pinal County, Arizona (the “County”), will hold a public hearing on July 10, 2019, at 9:30 a.m. in the Board of Supervisors Hearing Room, Administrative Complex, 135 North Pinal Street, Florence, Arizona, regarding a purchase agreement (the “Agreement”) to be secured by a pledge of amounts of certain general excise taxes which the County now or hereafter imposes, except for any taxes hereafter imposed for an inconsistent purpose; excise taxes and transaction privilege (sales) taxes imposed and collected by the State of Arizona, or any agency thereof, and returned, allocated or apportioned to the County, except the County’s share of any such taxes which by State law, rule or regulation must be expended for other purposes and vehicle license taxes distributed or deposited to the County’s general fund, except the County’s share of any such tax which by State law, rule or regulation must be expended for other purposes, to finance the costs of acquisition and construction of, and improvements to, County facilities, including, but not limited to, a County Development Services Building, an Emergency Operation Center Building, a County Attorney Office Building and County Complexes in the City of Maricopa and the San Tan Valley. (More detail about the foregoing will be provided in analysis provided to the Board at the hereinafter described hearing.) The Agreement is estimated to be in the principal amount of not to exceed $63,000,000 and, with total estimated interest of $48,822,525, to have a total estimated financing cost of $111,822,525.
The Board will receive oral comments at the hearing and will receive written comments at any time before adopting the resolution of intention with respect to the Agreement which will be considered no earlier than July 25, 2019 (the “Resolution”). Dated: June 25, 2019
The Board’s mailing address is: Pinal County Board of Supervisors c/o Natasha Kennedy, Clerk of the Board P.O. Box 827 Florence, Arizona 85132
Natasha Kennedy, Clerk, Board of Supervisors
You may email comments to email@example.com at any time before adoption of the Resolution.
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