Other articles by Howard Fischer:

Burns: Brewer bungling her job House approves boost in funding for those seeking office next year 3 recommended to Brewer to fill seat on high court AZ can enact own greenhouse gas regsRecession reins in sprawl Pet bills aplenty pouring forth from Legislature Brewer wants budget right away, but not those other, lesser bills Flat-tax plan could hit walletsRepeal of ban on sparklers nears final OK Ballot-imposed limits on lawmakers battled

Trades/Construction
RANCHO RESORT
MAINTANANCE POSITION Health Care
Sierra Tucson
Eating Disorders Program Coordinator General
A1 Communications
Cable Techs Dental
Southern Arizona Endodontics
Dental Assistant

PHOENIX — State lawmakers gave final approval Tuesday to a measure intended to financially facilitate construction of a rock 'n' roll theme park in Eloy.

SB 1450, OK'd by a 17-9 vote in the state Senate, would allow creation of a special district that would have the power to levy a 10 percent sales tax within its boundaries. That would include not only admission to the proposed theme park and all the rides, restaurants and all the activities inside, but also on money spent at hotels and eateries expected to be built on private land in the surrounding nearly 800 acres.

Backers of the project, dubbed Decades, say having all those tax revenues would be the only way to get people to lend them $750 million for construction of the 144-acre park. Proceeds from the levy would be legally pledged to repay that debt.

Foes had several objections to the concept. State Sen. Ken Cheuvront, D-Phoenix, said he fears that lenders will sue the state if the park fails.

But Sen. Robert Blendu, R-Litchfield Park, said there are several provisions, both in existing law and this legislation, to ensure that cannot happen.

"All those firewalls are put in place," he said. But Blendu conceded that could be overturned if a federal judge decides otherwise.

And Senate Majority Leader Thayer Verschoor, R-Gilbert, said that if the theme park succeeds, it will create thousands of jobs and generate sales taxes for the state government.

That did not convince Sen. Ron Gould, R-Lake Havasu City, who said the state should not be involved in what should be developed and financed strictly by the private sector.

Creation of the district benefits the developers beyond guaranteeing the sales-tax revenues because the borrowing will be done in the name of the district, meaning the bonds are issued by a government agency and the interest earned is tax- free. That makes the borrowing cheaper, as lenders are willing to charge less interest on tax-free bonds.

The measure now goes to the governor.