Bond to Be Wild (About These Savings)

Published on April 22, 2026

Okay, we’ll be the first to admit—“bond ratings” and “market timing” aren’t exactly scroll-stopping topics. But when every dollar matters, this is the kind of news Maricopa residents can genuinely feel good about. 

You’ve likely heard that Maricopa is contributing $30 million toward the $400 million project to widen State Route 347. While a half-cent sales tax will generate those funds over time, the project doesn’t have to wait—and it isn’t. In fact, it’s currently on track to break ground in June. 

So how does the City come up with $30 million to make the payment and kickstart the widening project? The City is issuing bonds—essentially borrowing the money now to move the project forward immediately, then paying it back over time with interest. And here’s the key question: how much interest? That’s where the bond rating comes in. 

The City has received its latest bond rating—and the results are outstanding. In simple terms: Maricopa can borrow money at a lower cost, which translates into millions of dollars in savings for our residents. 

So, what happened? 

When cities take on major infrastructure projects—like improving key transportation corridors—they often issue bonds. Think of it like a home loan: the better your credit and timing, the less you pay in interest over time. 

In Maricopa’s case, everything came together at the right moment. 

• Smart timing paid off. 
  Working with financial partners, the City carefully watched a challenging market and moved at just the right time—saving about 10 basis points right out of the gate. 

• Aggressive  Payment Structure
  The City has chosen to be aggressive in paying down additional bond principal immediately with the early collections from the Commuting Corridors Fund, greatly reducing the amount of interest that would need to be paid over the life of the bond  

Investors wanted in—badly. 
Essentially, Maricopa put something up for sale—about $27.7 million worth of bonds. But when investors showed up, they didn’t just ask for $27.7 million—they collectively said, “We want $181 million worth of those bonds.” 

Now, the City can’t sell more bonds than it planned, so not everyone gets what they asked for. But that gap means there’s way more demand than supply. When buyers compete, they’re willing to offer lower rates, which means the City pays less in interest over time. And the taxpayers save that money.

Major global firms like BlackRock, Goldman Sachs, Nuveen, and Breckenridge Capital Advisors all competed for a share. 

That kind of demand sends a clear message: the market believes in Maricopa. 

What does that mean for residents? 

All told, these factors are expected to generate more than $5 million in interest savings for the City’s Commuting Corridors Fund. 

That means: 

• More dollars stay local, for projects that matter to Maricopa residents  

• More flexibility for future projects  

• Less money spent on interest payments 

Why it matters 

Strong investor demand and a favorable bond ratings aren’t just financial wins—they’re a reflection of how the City is managed. 

It signals: 

• Confidence in Maricopa’s financial strategy  

• Trust in long-term planning  

• Recognition from leading global investors  

What’s next? 

Maricopa’s bond sale is expected to close around April 29, with funds scheduled to support upcoming transportation investments, including a planned payment to the Arizona Department of Transportation in May. 

In the meantime, those funds will even generate a bit of additional interest before being put to work. 

Bottom line 

This wasn’t luck—it was strategy, patience, and strong financial stewardship. 

And the payoff is real: millions of dollars saved and more resources available to keep Maricopa moving forward.