This information is intended to be a summary only of the steps in the application process. Applicants will be given the detailed Bonding Procedures and Guidelines when requesting an application.
Step 1 – Application for Bond Financing
To assist the Authority in evaluating bonding proposals, an application seeking initial approval is required. It is recommended the applicant become acquainted with the anticipated bonding expenses early in the process.
Step 2 – First Meeting and Initial Approval
Upon submission of an application and payment of necessary fees, the applicant will be notified of the date when the Authority will hold a public meeting to review the submission. The Authority typically acts on the Resolution conferring initial approval at the first meeting.
Step 3 – Preliminary Agreement
Once the Authority has acted favorably on a Resolution conferring its initial approval, a Memorandum of Agreement which defines the parties’ relationship will be submitted to the applicant.
Step 4 – Notices and Hearing
A notice needs to be given to the Attorney General of the State of Arizona of the Authority’s intent to issue bonds. A public hearing needs to be held for the purpose of eliciting public comment concerning the project.
Step 5 – Allocation
Most projects must apply for and receive an allocation from the State of Arizona.
Step 6 – Second Meeting and Final Approval
After all of the parties participating in the bond process have agreed on the contents of the bond documents, a second meeting will be scheduled for the Authority to consider the adoption of a final Resolution authorizing the issuance of the bonds and approving the bond instruments.
Step 7 – Approval by Casa Grande City Council
Under Arizona law, the governing body of the municipality must approve the proceedings prior to issuance of the bonds.
Step 8 – Bonds Issued
A bond closing date is scheduled, documents are signed and bonds are issued.