Community News

Fountain Hills dissolves Municipal Property Corporation

Used for purchase of town hall campus

The Municipal Property Corporation approved its dissolution in August.

(Independent Newsmedia file photo)

The Fountain Hills Town Council unanimously approved the dissolution of the Municipal Property Corporation during its Sept. 15 meeting.

The MPC was created in 1998 and utilized for past town capital financings, as Administrative Services Director David Trimble said.

“The sole purpose was to be used as a middle man to help the town issue pledge revenue obligations, or issued debt, to finance (the town hall campus),” Chief Financial Officer Paul Soldinger said.

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