DEPT OF COMMERCE: AMENDMENT ISSUED FOR GADA APPLICATION

FROM THE DEPT OF COMMERCE

May 29, 2008

CONTACT:  Pati Urias or David Drennon
602-771-1163
http://www.azcommerce.com


The Greater Arizona Development Authority (GADA) is pleased to announce the 2008B application round for financial assistance for public infrastructure projects is currently open.   

An amendment for the application has been issued.  The application and amendment for the 2008B round are due no later than 3:00 p.m. on June 30, 2008.  Financial assistance, in the form of loans, is available to cities, towns, counties, special districts and tribal governments throughout Arizona.  

The Authority expects to fund successful applications for this round in the fall of 2008. Participants in the GADA bond issue typically benefit from competitive interest rates and may receive a cost of issuance subsidy.  

Since 1998, GADA bonds have funded more than $345 million in public infrastructure projects, helping Arizona’s fast growing communities build the roads, public safety and civic facilities necessary for economic development.  

The application and amendment is available by visiting http://www.azcommerce.com/CommAsst/GADA/GADA+Financial+Assistance.htm. Please contact Jennifer Pittman-Leeper at 602-771-1136 or JenniferL@azcommerce.com if you have any questions.