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AZ readies for selloff of Capitol buildings, state park (access required)

By Jim Small

Published: July 29, 2009 at 2:20 pm

State lawmakers are looking to mortgage dozens of government buildings, state prisons and one of the world’s most unique cave systems in order to close a $2.5 billion deficit. The plan to raise $735 million from state property – known in budget parlance as a sale/leaseback, it is functionally like taking a second mortgage out on …

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ARIZONA LEGISLATIVE REPORT