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Gila County holds public hearing on roughly $18 million revenue bond for flood recovery
Summary
County finance advisers and the board held a required public hearing on using a revenue bond—initially estimated near $18 million—to fund flood-recovery and emergency public-works projects; advisers said the county could downsize the issue and aim to repay it quickly with incoming federal and state grants.
Gila County held a public hearing on March 3 to meet Arizona Revised Statute 11-391 requirements before potentially issuing a long-term revenue obligation to pay for flood recovery and related public-works projects.
Mark Reeder of Stifel, the county’s financial adviser, told the board the county must analyze the need for the projects, alternatives to long-term borrowing and potential repayment sources. Reeder said the current planning figure is ‘‘in the neighborhood’’ of $18…
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