LATEST NEWS

Search News

3 minutes reading time (691 words)

Board of Supervisors Looking at Long-term Debt Proposal in Pinal County

Pinal County Board of Supervisors

The Board of Supervisors will be looking at a long-term debt proposal in Pinal County.

The long-term debt will be used to prepay a portion of the County's future pension contributions with respect to the Arizona State Retirement System ("ASRS") directly to ASRS according to a written agreement between the County and ASRS.

The total estimated financing cost will be $137,936,563, consisting of an estimated principal amount of $90,915,000 and total estimated interest of $47,021,563.

The public hearing is scheduled to take place during the Board of Supervisors' meeting on Wednesday, March 16, 2022, at 9:30 a.m. The Supervisors will hear this item as part of a public hearing during the regularly scheduled meeting. The public is invited to comment on this issue at the public hearing or by emailing: This email address is being protected from spambots. You need JavaScript enabled to view it..

You can also mail your comments to the following address:

Pinal County Board of Supervisors
c/o Natasha Kennedy, Clerk of the Board
P.O. Box 827
Florence, Arizona 85132

Written comments shall be no more than 250 words.

The complete text of the required public notice is shown below.

NOTICE OF PUBLIC 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 March 16, 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, vehicle license taxes distributed or deposited to the County's general fund and/or other legally available revenues, to prepay a portion of the County's future pension contributions with respect to the Arizona State Retirement System ("ASRS") directly to ASRS according to a written agreement between the County and ASRS. (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 $90,915,000 and, with total estimated interest of $47,021,563, to have a total estimated financing cost of $137,936,563.

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 March 31, 2022 (the "Resolution"). Written comments, which shall be no more than 250 words, can be submitted to the Clerk of the Board by close of business (5:00 p.m.) the day prior to the day the Board will consider adopting the Resolution by email to This email address is being protected from spambots. You need JavaScript enabled to view it. or mail to Pinal County Board of Supervisors, c/o Natasha Kennedy, Clerk of the Board, P.O. Box 827, Florence, Arizona 85132. The notice of such hearing posted on the website of the County also includes an electronic link for submitting electronic comments at any time before adoption of the Resolution.
Legacy Traditional Schools names Jennifer Turney p...
Board of Supervisors Approve New Supervisor Distri...
 

Comments

No comments made yet. Be the first to submit a comment
Thursday, 23 May 2024

Captcha Image

My Account Menu

News Menu

Search News

Community Thoughts

Mailing Address:
530 E Hunt Hwy
Ste 103-262
San Tan Valley, AZ 85143

Text: 602.348.0238

SanTanValley.com is your #1 resource for anything in and around San Tan Valley, AZ. Focusing on uniting and promoting all that San Tan Valley has to offer for our visitors and residents, SanTanValley.com provides you with local area information & events, local business information, news, traffic alerts, and more!

© 2023, SanTanValley.com is owned & operated by MyBizNow LLC. All Rights Reserved. Material displayed is not to be used without written permission by SanTanValley.com representatives. You may not reproduce or communicate any of the content on this website, including articles, content, images and files downloadable from this website, without the written permission of SanTanValley.com representatives. Opinions and comments posted by viewers do not reflect the opinions of SanTanValley.com.

As an Amazon Associate we earn from qualifying purchases.

© Copyright 2023. All Rights Reserved Site Developed & Maintained by MyBizNow.com
× Progressive Web App | Add to Homescreen

To install this Web App in your iPhone/iPad press icon. Progressive Web App | Share Button And then Add to Home Screen.

× Install Web App
Mobile Phone
Offline - No Internet Connection