Land acquisition

$266M long-term debt proposal to be discussed by Pinal County supervisors

Posted 5/9/22

The board of supervisors will be looking at a long-term debt proposal in Pinal County to acquire land — or interests in land — for economic development purposes.

The total estimated …

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Land acquisition

$266M long-term debt proposal to be discussed by Pinal County supervisors

Posted

The board of supervisors will be looking at a long-term debt proposal in Pinal County to acquire land — or interests in land — for economic development purposes.

The total estimated financing cost will be $266,344,787, consisting of an estimated principal amount of $126,595,000 and total estimated interest of $139,749,787.

The land would be utilized for future industrial, manufacturing, distribution or similar activities and projects so the county can provide assistance or undertakings, improvements, leasing or future conveyance of the same to spur industrial growth by attracting business and corporate development, expansion or relocation to enhance the economic welfare and job growth for the county’s inhabitants, according to a release.

A public hearing on the long-term debt proposal is to take place during the 9:30 a.m. May 18 Pinal County Board of Supervisors meeting. The supervisors will hear this item as part of a public hearing during the regularly scheduled meeting held at the Pinal County Administrative Complex Board of Supervisors Hearing Room, 135 N. Pinal St. in Florence.

The public is invited to comment on this issue at the public hearing or by emailing ClerkoftheBoard@pinal.gov.

Comments of no more than 250 words can also be sent to the following address: Pinal County Board of Supervisors, c/o Natasha Kennedy, Clerk of the Board, P.O. Box 827, Florence, AZ 85132.

Pinal County, debt, land

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