$750 million Arizona theme-park bonding bill moves ahead

Posted Monday, February 25, 2008 9:59 AM | Contributed by Jeff

Despite concerns about seemingly endless tax breaks for a proposed rock and roll theme park in Pinal County, legislation intended to help finance the project cleared its first hurdle Wednesday. A bill to create a special district in Eloy that would enable backers of the Decades Music Theme Park to access up to $750 million in revenue bonds passed 5-2 in the Senate Commerce and Economic Development Committee. The district would repay the bonds using extra tax charges collected from park patrons, but the park's backers must first secure $100million of their own funding.