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State of Arizona sets 2nd phase in sale of government buildings

It's the second time this year that the state has sold buildings to help close the state budget deficit. A sale-leaseback in January raised $735.4 million for the state. The healthy response prompted lawmakers to authorize a second sale. Proceeds will be used to balance the current-year budget. The sale begins Tuesday, and will continue until the $300 million has been raised. Investors will be required to make purchases in $5,000 installments, according to information on the Arizona Department of Administration's website.

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