Cochise County supervisors review jail bond financing options, enter executive session on ballot language

Bisbee, Ariz. — Cochise County supervisors on June 20 heard a presentation from Stifel Public Finance on options to finance a proposed new county jail and voted 3‑0 to go into executive session to discuss ballot language. The public portion of the meeting laid out possible bond sizes, amortization terms and the revenue the county could pledge to service debt if voters approve a half‑cent transaction privilege (sales) tax.

The county’s retained municipal banker, Mark Reeder of Stifel Public Finance, told the three supervisors the firm would assist with structuring any bond issuance and with voter pamphlet materials. “We’re your investment bank… and ultimately, at the end of the day, if the election is successful, our job is to raise capital for you through the issuance of Cochise County Jail District revenue bonds,” Reeder said.

Reeder summarized the county’s draft assumptions: estimated construction cost planning numbers in the $120 million–$130 million range; a proposed half‑cent sales tax likely to generate roughly $10 million annually; and a county maintenance‑of‑effort contribution of about $6.3 million per year that could be pledged to bondholders. Under those assumptions, he presented sample amortizations and debt‑service schedules for different terms and bond sizes, including a $100 million illustrative issue and scenarios stretching to $120 million–$130 million.

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