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Tag Archives: borrowing

Debt Dilemma (access required)

House sets committee rosters, Dems stronger on Appropriations

2010 decision to mortgage state’s assets threatens cash reserves

Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.

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Goddard: Use borrowing to close state budget gap

Arizona's race for governor sharpened today as Democratic nominee Terry Goddard said he'd use additional borrowing to close most of the state's midyear budget shortfall without resorting to education funding cuts that he charged Republican Gov. Jan Brewer is poised to make after the election.

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Arizona said to be on track for financing

Arizona is on track to complete a big financing deal needed so the cash-short state government can pay its bills during February, officials said Jan. 6. The Department of Administration said it plans to complete approximately $735 million of sale-leaseback financing for prisons, legislative buildings and other state properties this month.

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