Sunday, February 17, 2013

Selling State Properties: It's in ALEC's State Budget Reform Toolkit

Divestiture.  As in getting rid of.

Realignment.  As in doublespeak.

1 comment:

2old2care said...

Here's what it looks like in real life - by ALEC-er Jan Brewer

From Huffington Post

Brewer proposed the controversial plan to sell and lease back the state's top government office buildings during a fiscal crisis in late 2009.

"There's just one problem, most of our Capitol Complex, including the building we gather in today, is not ours," Brewer said in the speech to the Arizona Legislature. "So to fortify that symbol, to make all of our Capitol truly ours once again, I'm asking that you send me a bill by Statehood Day that allows me to buy back the Capitol complex. Together, we can celebrate the burning of that mortgage."

Brewer's remarks were greeted with applause from the legislature.

The sale of the complex, which netted the state $1 billion, included the buildings that house the offices of Brewer and other top state executives, the legislature and the state Supreme Court. The state's original Capitol building, now a museum, was not included in the sale. At the time of the sale, Arizona was looking at a $3.9 billion deficit.

Under the terms of the sale, Arizona leases backed and retains control of the buildings. The state sold certificates of participation to investors in a series of sales in January and June of 2010.