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Archive for the 'Dean Martin' Tag

Arizona will have to borrow billions, state treasurer says

January 5th, 2009, 2:53 pm by Le Templar


ARIZONA STATE TREASURER DEAN MARTIN (Photo by Capitol Media Services)

We all know the state of Arizona has huge money problems. But if State Treasurer Dean Martin’s projections are accurate, Arizona is going to be begging for cash from the banks, from China or from just about anyone willing to float a few billion dollars in loans.

Martin held a news conference and sent out a press release this afternoon with the really, really bad news — the state might have to borrow $2.5 billion to $5 billion just to keep operating through the end of the fiscal year on July 1. And the next budget could be even worse.

“The new Legislature and Governor must address this problem quickly or the State will be looking at bankruptcy next year,” Martin said.

If Martin sounds a little bit like Chicken Little, it’s because his projections assume the Legislature and the incoming Gov. Jan Brewer wouldn’t act to get the budget in order. He’s offering the worse-case, completely unlikely scenario; if only to intimidate timid policy makers who think the state can just take on a little more debt until the economy turns around and tax revenues climb again. Martin’s warnings also lay the groundwork to convince the public that painful but fundamental reforms are needed to the budgeting process. Some Republican lawmakers started talking last summer about asking voters in a special election to reduce or eliminate spending mandates, primarily as they apply to education and health care.

Arizona treasurer seeks to unravel parts of state budget as unconstitutional

November 24th, 2008, 3:09 pm by Le Templar


                      DEAN MARTIN

How often does a government official who’s being sued immediately agree with the plaintiffs and ask a judge to revoke a policy? I can’t think of a recent example. But State Treasurer Dean Martin says he’s doing just that in a lawsuit filed by the Arizona League of Cities and Towns to stop a provision of the current state budget that requires municipalities to pony up a total of $30 million. This odd demand was among several ways to increase revenues to the state without raising general taxes sought by Gov. Janet Napolitano and endorsed by the Legislature. Other examples include allowing state agencies to increase their licensing and public access fees, even in the midst of a likely recession, to replace funds cut elsewhere in the budget.

Napolitano and legislative budget negotiators used some strange fundraising methods to bypass what’s called Proposition 108, a voter-approved constitutional amendment that generally requires any attempt by the Legislature to bring in more money to pass by a two-thirds majority. Too many Republicans opposed Napolitano’s approach to hope for such support in this budget.

The League of Cities and Towns claims Prop. 108 still applies, and so the budget’s demand for $30 million is unconstitutional. The lawsuit was filed against Napolitano as head of the executive branch (which generally carries out state laws) and Martin as treasurer because his office would physically receive the cash for deposit. Martin’s involvement is almost perfunctory. But this politically ambitious Republican has been given an opportunity to put more pressure on Napolitano, a Democrat who might soon leave Arizona to be secretary of Homeland Security in President-elect Barack Obama’s administration.

Along with his opposition to sending the cities a bill to help balance the state budget, Martin wrote a letter telling his lawyer to seek court intervention on those other fundraising methods as well.

Depending on how quickly the Arizona courts act, Martin’s move could affect a upcoming special session to again address a budget that’s still not balanced.

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