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Gila County supervisors authorize bond financing to accelerate flood-recovery work
Summary
The Gila County Board of Supervisors approved resolution 26-04-05 authorizing sale of pledged revenue obligations (Series 2026) to fund immediate flood-recovery projects; the reimbursement-style bond can be sized up to $18 million but will be drawn only as projects are incurred and reimbursed.
Gila County supervisors on April 7 approved a resolution authorizing pledged-revenue bonds to provide cash flow for flood-recovery projects, a step officials said is necessary to keep contractors working while federal reimbursements are processed.
County staff told the board the financing is structured as a reimbursement bond: the county spends on approved recovery projects and then submits requests to federal or state agencies for reimbursement. Staff said the documents allow…
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