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Debt Dilemma (access required)

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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Water agency director insists lawmakers can give him forbearance authority (access required)

The head of the state’s water agency insists that, contrary to the conclusions of a legislative attorney, lawmakers can authorize his department to “forbear” the use of water from the Colorado River.