![The city sold nearly $28 million in bonds to help fund its share of the long-awaited State Route 347 widening project. [InMaricopa file]](https://inmaricopa.com/wp-content/uploads/2026/04/SR-347-BP-1024x683.jpg)
Maricopa sold nearly $28 million in bonds this week to help pay its share of the State Route 347 widening project, drawing more than six times the investor demand city officials expected and saving taxpayers more than $5 million in interest costs, according to the city.
The bond sale is part of Maricopa’s plan to contribute $30 million toward the estimated $400 million project to widen the city’s only direct route to metro Phoenix. The money is expected to help keep the long-awaited project on track for a June groundbreaking.
The city said it offered about $27.7 million in bonds and received about $181 million in investor orders. That high demand allowed Maricopa to borrow at a lower interest rate, reducing the long-term cost of the debt.
Major investment firms including BlackRock, Goldman Sachs, Nuveen and Breckenridge Capital Advisors competed for a share of the bonds, according to the city.
Cities often issue bonds to pay for large infrastructure projects upfront, then repay the debt over time with interest. Maricopa plans to use revenue from its half-cent transportation sales tax, known as the Commuting Corridors Fund, to repay the bonds.
City officials said Maricopa’s bond rating, the timing of the sale and an aggressive repayment plan helped lower the cost. The city plans to use early sales tax collections to pay down additional bond principal quickly, reducing the amount of interest owed over the life of the bonds.
The bond sale is expected to close on Wednesday. The city said the money will support upcoming transportation investments, including a planned payment to the Arizona Department of Transportation in May.
![Western Pinal Justice of the Peace Patricia Glover speaks during a City of Maricopa Republican Club on May 23, 2026. [Monica D. Spencer]](https://inmaricopa.com/wp-content/uploads/2026/05/20260529-spencer-teeple-republican-club-1-4-300x200.jpg)
7 Responses
Widening can only help so much.
The 347 can be an 18 lane highway and people will still drive like complete morons on it.
this why the city council and mayor should not get a pay raise until rt 347 is widened and bonds paid off. so when will rt 347 be widened and bonds paid off ? just asking
Most if not all city administration should be sacked!
Unbelievable city has a 4 day work week, but citizens need 5 day a week access and responses.
This ridiculous highway issue has plagued the city for over 20+ years.
It’s the best political football ever; always needs a solution…
Lastly how about charging the damned garbage semi’s that are destroying the roads, 238, 347 and surface streets.
Alls we get are are more stinking apartments, but no serious services, just ask poor Tortosa residents 😵💫😵💫😵💫😵💫
We need lightrail!
Michael Riel you are so correct on everything you posted.TERM LIMITS at all levels…..School board,counsil,and especially mayor.These money,power hungry lunatics have lost there way and minds.I love that a council member shows the percentage of amenities that get used in a public park,yet poll after poll of residents that were polled prior to the 22,000 apartments approved were north of 75 percent AGAINST any form of high density housing.Yet they went against the residents and approved them anyway.Money,power…..can’t have one without the other.
Tax and spend,tax and spend.They haven’t even received the tax money from the special tax increase for the 347 and they’re borrowing money.And they feel so proud and smart that they saved the taxpayer 5 million.The Sonoran Pkwy was 32 million,last figures I saw for the pedestrian overpass was 6 million,and the park for the school admin(silver train money pit)was 1.6 million.This was enough to secure our part(which we should NOT be funding as it is ADOT’s responsibility but the governor took the funds earmarked for her agenda). And the taxpayer was bilked out of 86 million by pinal transit lobbying groups illegal money grab.Where’s that money?Phoof…its gone!Wake up people,it’s our money they’re spending like drunken sailors.Now they want to spend millions on a park.These so called leaders are drunk on power,present and past.