[HooverDam]

Im not sure if this should go here or in the Phx thread, Sean feel free to move it if need be

http://www.azcentral.com/news/electi...le0107-ON.html

State buildings to go on market next week
31 comments by Mary Jo Pitzl - Jan. 6, 2010 06:02 PM
The Arizona Republic
Arizona's state buildings will go on the market next week, as state officials look to raise $735 million to boost the state's depleted coffers.

The offer, which includes the state Coliseum, prisons, the headquarters of the Department of Public Safety and legislative buildings, will go on the market Tuesday and Wednesday, said Alan Ecker, a spokesman for the state Department of Administration.

Investors can buy certificates of participation in the buildings in $5,000 increments by working through the state's underwriters, Morgan Stanley and Citi. Ecker said the certificates, which are tax exempt, will likely carry an interest rate of 4 to 5 percent.

State officials say they're confident they can sell certificates for all of the buildings involved, based on the queries they received since the sale-leaseback was announced.

However, Ecker said there's no push to complete the entire sale-leaseback next week. If market conditions look favorable farther down the road, some of the sale may be delayed, he said.

I didnt realize the Coliseum was going to be included in this deal, that kinda makes me nervous. I really love that freakin' building and am so glad we didnt tear it down like everything else in this town. Handing it over to private developers puts it on slightly less safe ground I imagine. Hopefully if anyone does buy it they'll not even think about knocking it down but instead put it to use.