There are times when keeping up with the needs of an expanding population and making investments that will shape the region’s economic future can outstrip the ability of a governmental jurisdiction to “pay as you go.”
When used responsibly, bonds allow a jurisdiction to get started on major projects now, and pay them back over a longer period of time, much like homeowners typically pay a mortgage instead of buying a home with cash up front.
The State Auditor General’s Office completed a review in early 2013 of the Pima County General Obligation Bond Program and determined the bonds have been effectively managed and administered without bias.
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Here are the additional facts about how Pima County manages debt: