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Notice of Public Hearing Regarding Long-Term Debt Proposal to Refinance the Costs of Projects in Pinal 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 April 8, 2020,
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 refinance all or a portion of the payments due pursuant to a First Purchase
Agreement, dated as of August 1, 2010, between the County and The Bank of New York Mellon
Trust Company, N.A., a portion of the proceeds of which financed the costs of medical service
facilities and administrative facilities. (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 $9,255,000 and, with total estimated interest of
$2,806,256.25, to have a total estimated financing cost of $12,061,256.25.
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 April 23, 2020 (the “Resolution”).
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
Please email comments to any time before adoption of the Resolution.


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