DALLAS — Amid tightening finances, the Arizona Board of Regents will issue $34 million of taxable and tax-exempt bonds this week as part of the state “Speed” stimulus program.

The bonds, which will finance improvements at Arizona State University, will include $31 million of taxable Build America Bonds and a $3.2 million tax-exempt Series B. The debt will be issued as fixed-rate bonds under the program called Stimulus Plan for Economic and Educational Development, or Speed. Principal repayment on the debt is scheduled to begin in fiscal year 2017, with ASU paying interest only during the first six years.

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