Arizona

DALLAS — Taking advantage of low interest rates in a recovering economy, Mesa, Ariz., will sell about $100 million of refunding debt Thursday while retaining capacity for new-money deals.

Deer Valley Unified School District No. 97 has asked the state of Arizona for a $7 million advance to cover a cash shortfall caused by a delay in anticipated state aid.

DALLAS — Gov. Jan Brewer urged lawmakers to draft a bill to buy back the Arizona capitol for the state's 100th birthday, but the centennial passed on Tuesday with no sign that lawmakers were ready to pay off the $106 million debt.

DALLAS — With Arizona's revenues and economy steadily improving, Moody's Investors Service has revised its outlook on the state's Aa3 issuer credit rating to stable from negative.

Chandler, Ariz.’s sales tax revenues recorded a 14.8% increase in the first four months of fiscal 2012, the most it has recorded since the same period of fiscal 2007.

Glendale, Ariz., the once and future Super Bowl site that staked its future on professional sports, has taken a downgrade as it prepares to refund about $145 million of debt.

DALLAS — Buying back Arizona's capitol complex on the state's 100th anniversary will cost $106 million but will save $47.5 million in finance costs, according to estimates in Gov. Jan Brewer's proposed $8.96 billion budget.

DALLAS — Two years after Arizona mortgaged state buildings to cover operating costs, the Legislature opened Monday with hopes of paying down that debt.

With a new bond-financed spring training facility for the Chicago Cubs in the planning stages, Mesa could keep the venerable Hohokam Stadium operating with the Oakland Athletics as tenant.

El Mirage, Ariz., officials filed a formal response last week to allegations that the city improperly financed a campaign to sway voters in favor of an $8.5 million general obligation bond election.

Arizona’s State Transportation Board has adopted a blueprint outlining the projects needed over the next 25 years to keep pace with the state’s growing population.

Final results last week from the Maricopa County Elections Department show that voters Nov. 8 narrowly approved a $41 million capital override request by Paradise Valley Unified School District.

El Mirage’s $8.5 million bond request was approved by a three-vote margin on Nov. 8 after early returns showed the measure failing by 19 votes.

The Maricopa County supervisors voted last week to again ask the Arizona Legislature to halt its practice of levying a mandated contribution on counties to help balance the state budget.

Trustees of the Scottsdale Cultural Council last week heard plans for a $10.5 million bond proposal that the art group plans to take to the Scottsdale City Council in March 2012.

DALLAS - Falling incarceration rates could interfere with Arizona's plan to issue debt to finance a for-profit private prison, according to reports.

DALLAS - Arizona State University will have a new way to issue debt with a stadium district authorized by the Maricopa County Board of Supervisors in Phoenix.

The Maricopa County School District No. 69 is asking voters next week to approve $203 million of general obligation bonds to renovate and maintain its 45 schools.

A recent downgrade of some Surprise, Ariz., municipal bonds provided ammunition for mayoral candidate Sharon Wolcott’s campaign against incumbent Lyn Truitt in the election on Nov. 8.

DALLAS - Standard & Poor's on Wednesday lowered its rating on the Arizona Transportation Board's subordinate-lien highway revenue bonds to AA-plus from AAA with a negative outlook.