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 September 30, 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 fund all or a portion of the County’s unfunded liabilities with respect to the Arizona Public Safety Personnel Retirement System. (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 $90,660,000 and, with total estimated interest of $32,837,073, to have a total estimated financing cost of $123,497,073.
The Board will receive oral comments at the hearing and will receive written comments, which shall be no more than 250 words, at any time before adopting the resolution of intention with respect to the Agreement which will be considered no earlier than October 15, 2020 (the “Resolution”). Written comments can be emailed to [email protected] or mailed to the following address:
Pinal County Board of Supervisorsc/o Natasha Kennedy, Clerk of the BoardP.O. Box 827Florence, Arizona 85132
Natasha Kennedy, Clerk, Board of Supervisors
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