ASDB; capital improvements; financing; authority

SB 1760 authorizes the Arizona State Schools for the Deaf and Blind (ASDB) board to secure third-party financing for capital projects like building improvements, using lease-purchase agreements with specific spending limits. It establishes a dedicated "capital improvement and school facilities fund" to manage proceeds from property sales, grants, and donations, which can cover lease payments and capital projects without counting as state debt. The bill caps total lease-purchase agreements at $16 million (with $8 million annually for fiscal years 2026-27 and 2027-28), ensuring payments remain current expenses rather than general state obligations. This directly affects ASDB by providing financial flexibility for facility upgrades while protecting state budgets from long-term debt commitments.