In Bloomberg’s October 19, 2015 article regarding bonds issued by the Arizona Sports & Tourism Authority to help construct a stadium for the NFL’s Arizona Cardinals, Todd Curtis, portfolio manager of Aquila Tax-Free Trust of Arizona commented on the on-going legal battles involving the issuance. Mr. Curtis indicated that Arizona Sports & Tourism Authority could probably continue to make bond payments, and may eventually require support from the state of Arizona. The fund does not hold the bonds.
Bloomberg.com quotes Todd Curtis as portfolio manager of the Aquila Tax-Free Trust of Arizona in the 10/24/14 article “Mesa Prompts Bond Backlash as Debt Doubles Over 7 Years.”
“The city has a reasonable amount of debt considering its developing suburban fringes and aging downtown neighborhoods, said Todd Curtis, who manages the $274 million Aquila Tax-Free Trust of Arizona from Phoenix.”