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Cave Creek weighs revenue bonds, voter bonds and federal LWCF grants to fund proposed land purchase
Summary
Advisers presented financing models (revenue bonds, general obligation bonds) for an illustrative $14.5M acquisition and recommended a revenue-bond path as lowest near-term household impact; consultants also urged pursuing Land and Water Conservation Fund grants that require 1:1 match and impose perpetual public‑use restrictions.
Cave Creek officials and outside advisers laid out financing scenarios on the same meeting day the Town Council authorized staff to file an application with the Arizona State Land Department.
Advisers from Stifel used a working acquisition assumption of about $14.5 million (subject to the ASLD appraisal) and showed two primary paths: revenue bonds (issued against town excise/TPT receipts, no voter election required) and general obligation (G.O.) bonds that require voter approval. Stifel projected a revenue-bond issuance of roughly $10.4 million after current equity, producing illustrative annual debt-service figures of roughly $800,000 on a 20‑year schedule at 4.4% interest and a somewhat lower annual burden on a 25‑year structure.…
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