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Citizens have a unique chance to invest in preserve
June 7, 2012
Contact: David Smith, City Treasurer, 480-312-2364
Citizens have a unique chance to invest in preserve
Bond update -- The bond sales referenced in this news release closed on June 13, 2012. A report on the sale and its affect on the preserve program, interest rates and taxes will be made later this summer.
Arizona residents have a chance next week to invest in one of Scottsdale’s most beautiful and unique assets.
By purchasing Scottsdale Preservation Investment Bonds, citizens will be part of a bond refinancing effort projected to save taxpayers up to $10 million during the next 13 years.
The offering is a refinancing of bonds issued in 2004 to finance capital investments, land acquisitions and other costs related to the McDowell Sonoran Preserve.
The 21,000-acre preserve encompasses the McDowell Mountains and other scenic lands that cover roughly one-third of the city.
The Preservation Investment Bonds will be offered to individual investors during an exclusive retail period as early as Monday June 11. Arizona residents will have priority access to buy the bonds, which will be exempt from federal and Arizona income taxes.
To learn more about Scottsdale Preservation Investment Bonds and how to purchase them, visit: www.ScottsdaleAZ.gov/preservebonds.
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