Arizona

Dueling analyses out this week found the mixed-use development will either underperform or outperform in generating revenue for Tempe.

The early termination of the agreement is the latest setback for Legacy Cares, Inc., which has defaulted on bonds sold to finance the facility.

Phoenix asked a state court to prohibit residential housing on the site of the Tempe Entertainment District due to its proximity to Sky Harbor International Airport.

The measure, which passed with slim vote margins in the Republican-controlled legislature, could drive banks out of the state's market, according to the governor.

A refinancing plan for the defaulted Legacy Cares bonds aimed to raise money to settle claims from contractors and others.

Legislation barring government contracts with companies that engage in a growing list of "boycotts" in their business dealings has popped up in several states.

Gov. Greg Abbott used his State of the State address to fast track his priorities for the legislative session and drop a hint about an upcoming $100 billion transportation infrastructure plan.

Public school districts faced $1.38 billion in spending cuts next month due to a constitutional cap on expenditures.

The popularity of Arizona's universal school choice program, which pays for private schools, brought higher-than-projected costs and future budget impact.

Legacy Cares, which built Bell Bank Park in Mesa, was due to make a $10.3 million interest payment Jan. 1, but only had $2.68 million in the bond fund, the trustee said.

Legacy Cares, which left construction contractors unpaid and had its bond trustee declare a default event, says a new debt sale will clear up its fiscal issues.

Jim Stricklin has joined the team of advisors at Columbia Capital Management.

This dismissal won't affect the state's other lawsuit against the Biden administration's clawback of pandemic relief funds for state tax cuts

IDE Technologies proposed a privately financed project to bolster Arizona's water supply by delivering desalinated water from Mexico to the state via a pipeline.

Arizona's second-largest city reported general fund surpluses in recent years, easing structural budget balance concerns that weighed on its ratings, Fitch said.

The highly-rated city wants to pursue general obligation bond programs every five years to fund capital projects for its growing population.

Stratton Law Firm is working on a couple of high-profile municipal bond deals in Tempe and Mesa.

The team has pledged to launch a petition drive to place the project on the May 16 city ballot.

The developer is seeking as much as $230 million of bonds issued by a community facilities district to pay for cleaning up a landfill and improving infrastructure for the $2.1 billion multi-use project.

The newly stand-alone Water Infrastructure Finance Authority can sell water augmentation bonds as part of the state's quest for new water sources.