On November 28, 2012, SHEE staff sent this query to state agency finance officers:
Arizona’s public universities are currently evaluating the viability of implementing a commercial paper program as a way to lower interest expenses and increase its liquidity. New statutory authority would need to be enacted to establish a commercial paper policy and borrow on an unsecured basis. Are there other public institutions that currently have the authority and issue commercial paper?
State responses can be found here.