shintao
Take Down ~ Tap Out
- Aug 27, 2010
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Yeah, hear alot of crap about Liberal cities, so just wondering if any Liberal City's have sold their state building to stay afloat for one year, as the Rights Prize, Arizona has done? Seems Arizona was doing pretty good until they started violating US citizen rights by profiling Mexicans without warrants. I mean, you can cut spending and be fiscal, but sell off the state capitol building? LMAO!!!
ARIZONA DEPARTMENT OF ADMINISTRATION ANNOUNCES $735 MILLION SALE-LEASEBACK TRANSACTION
The Director of the Department of Administration, on behalf of the State, moved forward yesterday with the successful sale of its Series 201 OA Certificates of Participation in association with the sale and lease-back of State assets.
As a result of the sale of the Certificates, the State will receive approximately $7354 million of proceeds for deposit to the State’s General Fund,. This financing approach will help offset the projected shortfall in the General Fund and address cash flow needs for the current fiscal year.
The sale and lease-back of State assets was authorized by the Legislature and approved by the Governor as part of the budget solutions enacted for fiscal year 2009-10. Under this approach, key State assets are nominally sold to a bank trustee and simultaneously leased back to the State for the approximate 20-year term of the financing .
State sells buildings for $735 million, money to help balance budget - Hot Off The Press (release)
ARIZONA DEPARTMENT OF ADMINISTRATION ANNOUNCES $735 MILLION SALE-LEASEBACK TRANSACTION
The Director of the Department of Administration, on behalf of the State, moved forward yesterday with the successful sale of its Series 201 OA Certificates of Participation in association with the sale and lease-back of State assets.
As a result of the sale of the Certificates, the State will receive approximately $7354 million of proceeds for deposit to the State’s General Fund,. This financing approach will help offset the projected shortfall in the General Fund and address cash flow needs for the current fiscal year.
The sale and lease-back of State assets was authorized by the Legislature and approved by the Governor as part of the budget solutions enacted for fiscal year 2009-10. Under this approach, key State assets are nominally sold to a bank trustee and simultaneously leased back to the State for the approximate 20-year term of the financing .
State sells buildings for $735 million, money to help balance budget - Hot Off The Press (release)
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