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

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.