Arizona again offering state buildings for sale

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PHOENIX -- In an effort to raise some much-needed cash, the state is once again offering some of its buildings for sale.

This is the second time this year the state is doing this.

This time, the Veterans Memorial Coliseum is for sale, along with the Department of Public Safety headquarters, some legislative buildings, schools and state prison buildings.

The buildings are available for purchase in sale-lease-back deals.

The state is hoping to raise about $300 million. In January, it raised more than $735 million in a similar sale, which included the State Capitol building.

Certificates of participation are available in $5,000 increments. Expected interest earnings are in the 4 to 5 percent range.

For all of the details, including a list of buildings involved in the sale, visit www.AZDOA.gov.

>>> COP's Preliminary Official Statement (PDF file)

>>> Sale/Lease-back of state facilities, Certificates of Participation, Series 2010B (PDF file)