For Star subscribers: Arizona lawmakers move to block sale, lease of state lands to foreign governments and certain foreign corporations — but not the Saudi one that caused the controversy.
Howard Fischer Capitol Media Services PHOENIX — Arizona lawmakers are moving to block the sale and lease of state lands to foreign governments and certain foreign corporations — but not the Saudi one that has caused the concern in the first place.
"It's a very good question,'' Biasiucci conceded."Do we go through and start to pick and choose which countries might be against us or obviously we have histories with?'' In fact, she said, perhaps the measure should be expanded to keep companies based not just in other countries but those from other states from buying or leasing state lands and thereby getting the water rights that come with the property.Biasiucci showed no interest in expanding his legislation. He said, though, that the concerns are valid, specifically mentioning"hedge fund companies.
The Land Department is charged by law with obtaining the highest return possible on the sale and lease of lands, with the proceeds benefiting some state functions, mainly public schools. There appears to be nothing in statute that allows the agency to refuse an offer of money and instead allow the land to sit unused — with no revenues.
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