The Pima IDA is a nonprofit corporation designated a political subdivision of the State of Arizona incorporated with the approval of Pima County, pursuant to the provisions of the Arizona Constitution and the statutes currently titled “Industrial Development Financing”, Title 35, Chapter 5, Articles 1 through 5, Arizona Revised Statutes, as amended (Sections 35-701 through 35-761, inclusive).
The Pima IDA has no taxing power nor the ability to pledge the general credit or taxing power of Arizona or any political subdivision thereof. The Pima IDA is empowered to issue bonds to provide funds for the financing or refinancing for a “project”, as defined by the statute.
