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.

For the full report please visit:
http://www.pima.gov/bonds/pdf/bd-auditor.general.bond.audit.report.pdf

Here are the additional facts about how Pima County manages debt:

• Pima County is well below the state’s “cap” on debt the County may issue.
• Pima County is not a high-debt government.
• Pima County embraces conservative principles in its debt management policies.
• Pima County’s credit is good.
• Pima County is accountable.
• Pima County’s capital improvement programs support jobs.
• Pima County’s bond programs have improved quality of life, neighborhoods and economic development efforts.
• The Pima County bond programs authorized by voters in 1997, 2004 and 2006 are on track.