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Board of Supervisors Looking at Long-term Debt Proposal 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 September 28, 2022, 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 (the “State”), 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, to make a payment to the Arizona State Retirement System pursuant to Section 38-737(D), Arizona Revised Statutes, as amended. (More detail about the foregoing will be provided in analysis provided to the Board at the public hearing.) The Agreement is estimated to be in the principal amount of $122,475,000 and, with total estimated interest of $83,192,918, to have a total estimated financing cost of $205,667,918.

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 13, 2022 (the “Resolution”). Written comments can be emailed to [email protected] or mailed to the following address:

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 Click Here to e-mail any comment at any time before adoption of the Resolution.


















 

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