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ARIZONA STATE SENATE
Fifty-Fourth Legislature, First Regular Session
appropriation; certificates of participation; payoff
Purpose
Appropriates $17,700,000 from the state General Fund (GF) in FY 2020 to the Arizona Department of Administration (ADOA) to retire the series 2013A certificates of participation.
Background
Issued in January 2013, the 2013A lease-purchase transaction refinanced the 2001 privatized lease-to-own agreement which funded the Department of Health Services (DHS) office building. The transaction reduced the existing payment schedule for the DHS office building through FY 2029 (JLBC FY 2018 Debt and Lease-Purchase Financing Report).
S.B. 1464 appropriates $17,700,000 from the state GF to the ADOA in FY 2020.
Provisions
1. Appropriates $17,700,000 from the state GF in FY 2020 to the ADOA to retire the 2013A certificates of participation relating to the construction and furnishing of the DHS office building.
2. Becomes effective on the general effective date.
Prepared by Senate Research
February 15, 2019
LMM/kja