Board of Supervisors Public Hearing Sept. 22 Regarding Arizona Public Safety Personnel Retirement System
For purposes of Section 11-391, Arizona Revised Statutes, the Board of Supervisors (the “Board”) of Gila County, Arizona (the “County”), will hold a public hearing on September 22, 2020, at 10:00 a.m. in the Board of Supervisors Hearing Room, 1400 East Ash Street, Globe, Arizona 85501, regarding a purchase agreement (the “Agreement”) to be secured by a pledge of amounts of all unrestricted transaction privilege (sales) taxes that the County now or hereafter levies, except for any taxes hereafter levied for an inconsistent purpose, excise taxes and transaction privilege (sales) taxes imposed and collected by the State of Arizona, or any agency thereof, and returned, allocated or apportioned to the County, except the County’s share of any such taxes which by State law, rule or regulation must be expended for other purposes, and amounts remitted to the County by the U.S. Department of Interior pursuant to the federal Payment in Lieu of Taxes program, to fund all or a portion of the County’s unfunded liabilities with respect to the Arizona Public Safety Personnel Retirement System. (More detail about the foregoing will be provided in analysis provided to the Board at the hereinafter described hearing.) The Agreement is estimated to be in the principal amount of not to exceed $17,775,000 and, with total estimated interest of $8,547,385 to have a total estimated financing cost of $26,322,385.
The Board will receive oral comments at the hearing and will receive written comments at any time before adopting the resolution of intention with respect to the Agreement which will be considered no earlier than October 7, 2020 (the “Resolution”). NOTE: Per the most recent guidelines from the federal government regarding COVID-19 and to protect citizens, citizens may attend the public hearing in person, one at a time, to provide comments. A face mask must be worn while in the building; however, it may be removed while addressing the Board.
The Board’s mailing address is:
Gila County Board of Supervisors
c/o Marian Sheppard, Clerk of the Board
1400 East Ash Street
Globe, Arizona 85501
Marian Sheppard, Clerk, Board of Supervisors
Please email the address above to send written comment at any time before adoption of the Resolution.