Arizona lawmakers demand say on debt deals following Capitol buy-back

Arizona’s Executive Tower in Phoenix is home to most of the statewide elected officials. The state sold off more than two dozen buildings, including the Executive Tower, during the Great Recession in a sale-leaseback agreement. / By Carmen Forman / Arizona Capitol Times

 

By Carmen Forman | Arizona Capitol Times

Lawmakers were taken by surprise when Gov. Doug Ducey kicked off the legislative session with an announcement that the state had regained ownership of some state buildings sold during a tough financial situation in 2010.

Some state lawmakers don’t want to be surprised again.

Rep. Anthony Kern introduced a bill to require legislative review of any plans to refinance state debt involving the deals lawmakers, under Gov. Jan Brewer, made to sell off, but lease back a slew of state buildings — including the House, Senate and Executive Tower.

Arizona lawmakers were unaware Ducey’s office worked behind the scenes with the Arizona Department of Administration to refinance the debt the state took on when agreeing to the 2010 “lease-back” agreements.

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