Tucson CitizenTucson Citizen

Arizona general fund to borrow from state accounts

PHOENIX — State Treasurer Dean Martin said Tuesday the state general fund will borrow from an investment pool of hundreds of other state government accounts to get the state through a cash-flow crunch next week.

Martin had announced previously that the state’s budget crisis would force the state to borrow to cover a big school aid payment due April 15.

Martin said his office will arrange to borrow “a couple of hundred million” dollars for six days, until sales-tax payments arrive at month’s end.

Martin said he decided against using commercial sources because of setup costs in establishing the financial ties.

He said the state investment pool will make the loan to the general fund as an investment similar to purchasing U.S. Treasury notes.

Citizen Online Archive, 2006-2009

This archive contains all the stories that appeared on the Tucson Citizen's website from mid-2006 to June 1, 2009.

In 2010, a power surge fried a server that contained all of videos linked to dozens of stories in this archive. Also, a server that contained all of the databases for dozens of stories was accidentally erased, so all of those links are broken as well. However, all of the text and photos that accompanied some stories have been preserved.

For all of the stories that were archived by the Tucson Citizen newspaper's library in a digital archive between 1993 and 2009, go to Morgue Part 2

Search site | Terms of service