By Tony Davis | Arizona Daily Star
The Central Arizona Project carries Colorado River water to desert cities, tribes and industries in Arizona.
The $4 billion Central Arizona Project, a product of federal largesse from the start, is seeking another governmental helping hand.
The CAP wants its debt refinanced at a lower interest rate and a delayed payback schedule because one of its key revenue sources — electric power revenue from the Navajo Generation Station — has crashed in recent years along with energy prices.