By Russ Wiles, The Republic | azcentral.com
Like consumers who used their credit cards a bit too much over the holidays, state and local governments throughout Arizona now are shying away from taking on further debt, constrained by the sluggish economic recovery, slower population growth, public backlash and other factors.
Municipal entities around Arizona did have more debt outstanding in 2014 for the first time in three years, but the increase was modest. Public governments reported $42.9 billion in outstanding debt backed by bonds or leases for the 12 months ending June 30, up just 0.5 percent from $42.7 billion in mid-2013.
Arizona’s population continued to grow, so statewide public debt dipped to $6,522 per resident, down slightly from $6,573 one year earlier and $6,724 in mid-2012.
Related: Mesa loan to Gateway Airport not really a loan/East Valley Tribune
