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More state buildings going on sale

BY: The Associated Press

Published: June 2, 2010 at 7:13 am

More state buildings go up for sale next week as Arizona officials hope to raise $300 million and help close the budget deficit.

It’s the second time this year that the state has sold off buildings in a sale-leaseback plan. The first one in January raised $735.4 million and that prompted Arizona lawmakers to authorize a second sale.

The sale will be conducted June 8 and investors will be required to make purchases in $5,000 installments. Investors must work through a list of underwriters provided by the state.

The sale-leaseback comes on the heels of last week’s action in which the state borrowed $450 million against the proceeds of future state Lottery revenues.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

2 Responses to “More state buildings going on sale”

  1. Twitter Trackbacks for More state buildings going on sale: [azcapitoltimes.com] on Topsy.com Says:
    June 2nd, 2010 at 9:54 am

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  2. MCRC Briefs 6/2/10 « Maricopa County Republican Committee Says:
    June 3rd, 2010 at 6:07 am

    [...] More state buildings going on sale http://azcapitoltimes.com/blog/2010/06/02/more-state-buildings-going-on-sale/ [...]

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