Private prisons a boon for Eloy bonds
by Tanner Clinch | The Eloy Enterprise
The private prisons that boost Eloy’s population numbers may have also been a boon for the city in its financing of the City Hall project.
At Monday night’s City Council meeting, members went over the details of the bond sale and debt obligation over the next 25 years to fund the project.
In April, Eloy priced its first bonds in more than 20 years, selling $6 million of them in early April through the Royal Bank of Canada, the city’s broker for the bonds.
