For Star subscribers: Senator wants constitutional debt limit set in 2012 — but regularly skirted — to be strictly enforced, despite the difference in today's dollars.
Howard Fischer PHOENIX — The way a senator sees it, when the people who crafted the Arizona Constitution put in a $350,000 debt limit for the state, they weren’t kidding.
People are also reading… Also off-limits under Mesnard’s plan would be a similar scheme now used to finance the construction of new state buildings. The state would have to have the cash upfront. He conceded that Arizona’s population is much bigger now than at the time of statehood when only about 217,000 people lived here. The latest figure is close to 7.5 million, a growth factor of nearly 35.But Mesnard said he wants to return to the original intent of the frame, whom he insists had to know what they meant when they put in the $350,000 debt cap with no allowance for either population growth or inflation.
The balance was made up by selling off a variety of state buildings to private investors in the form of “certificates of participation’’ and then making regular lease payments until the debt was paid off. And if the choice is even larger cuts in state services? Mesnard said that won’t be necessary — if future legislators do better planning.
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