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State borrows $700M; first external loan since Great Depression (access required)

The State Loan Commission has approved a $700 million line of credit from Bank of America, marking the first external borrowing the state has done since the Great Depression. State Treasurer Dean Martin said his office will finalize the agreement with Bank of America next week and will begin issuing treasurer's warrants by the end of November.

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Brewer out of town for special session (access required)

Gov. Jan Brewer is on the road, just as lawmakers are convening for their fourth special session. Brewer left town this morning (Nov. 18) for a scheduled trip to Austin, Texas, where she will attend the 2009 conference of the Republican Governors Association. Spokeswoman Kim Sabow said the governor plans to attend both days of the conference, but will return to Arizona on Nov. 19.

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Special session kicks off, but most work slated for Thursday (access required)

Lawmakers officially kicked off the fourth special session of the year - the second devoted to the fiscal 2010 budget - with an uneventful gathering at the state Capitol on Nov. 17. The work on taking a small bite out of the state's $2 billion budget deficit will take place on Nov. 19, when House and Senate budget committees are expected to meet.

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Draft bills show special session cuts of $300M (access required)

Draft versions of the bills lawmakers are expected to consider this week in a special legislative session show about $300 million in spending cuts to education and social services, as well as the restoration of funding for high-tech economic development.

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