The Arizona Health Facilities Authority has approved an application from New Arizona Family, Inc. for the issuance of $4,235,000 of the Authority’s Revenue Bonds. New Arizona Family is a not-for-profit corporation formed in 1970 to provide residential and substance abuse recovery programs for low-income, seriously mentally ill individuals, pregnant and parenting women, and their children. They own or lease and operate approximately 22 properties comprising their behavioral health care facilities in the greater Phoenix metropolitan area.

Proceeds of the Bonds will be used to finance or refinance (1) the acquisition, construction, development, renovation, operation, and equipping of certain behavioral health facilities and (2) certain costs and expenses incident thereto. The unrated Bonds will be a private placement purchased by Wells Fargo Brokerage Services or an affiliated entity. The Bonds will bear interest at a fixed rate with a 20 year maturity. They will be secured by a mortgage on the facilities financed as well as a gross revenue pledge.

Institution Type:
Other

Bond Issue Date:
6/1/2007

Amount Financed:
1 Million - 5 Million

Interest Rate:
Fixed

Bond Denomination:
N/A

Request Official Statement

Back to Projects List