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A community-focused investment in care, access, and innovation.
Valleywise Health is asking Maricopa County voters to approve an $898 million bond proposal to expand access to vital care across Maricopa County. With voter approval, we can continue to build a healthier, stronger Arizona.
The proposed bond was approved unanimously by the Maricopa County Special Health Care District Board of Directors on April 24, 2025.
The need for accessible, high-quality care is growing across Maricopa County. Proposition 409 builds on Valleywise Health’s mission and legacy of public investment, ensuring we can meet today’s demand — and tomorrow’s challenges.
$898 million
An estimated 11 cents per $100 of net Assessed Limited Property Value.
(Note: this does not apply to market value, Zillow estimate, or resale value.)
Bond funds will not be used for salaries or operational expenses.
A comprehensive Hospital Campus Master Plan, launched in July 2022, guided the proposal. This plan involved:
In 2014, Maricopa County voters overwhelmingly approved a $935 million bond measure to transform the county’s aging public teaching hospital and safety net system of care.
In its most recent 2021 bond sale, Valleywise Health received some of the highest ratings awarded by Moody’s Investment Services and Fitch, two national credit rating agencies.
Moody’s assigned an “Aa3” rating and Fitch a “AA-“ rating to the healthcare district’s general obligation bonds that were overwhelmingly approved by Maricopa County voters in 2014. Both agencies added a stable outlook to their ratings of the bonds.
The approximately $304 million bond proceeds from the sale were used to complete construction of Valleywise Health’s Mesa Specialty Center, West Maryvale Community Health Center, the 10-story state-of-the-art Valleywise Health Medical Center, including the Diane & Bruce Halle Arizona Burn Center, and to build the Viginia G. Poper Pavilion on the Roosevelt campus. The Piper Pavilion includes a state-of-the-art Simulation Center used to train the physicians of tomorrow.
The high-quality bond ratings help ensure that future Valleywise Health (Maricopa County Special Health Care District) debt will be issued at the lowest possible interest expense and lowest cost to taxpayers. These Series D bonds will mature July 1, 2035.
In 2018, Series D bonds totaling $450 million were issued and proceeds were used to purchase and renovate the Maryvale hospital, which had been closed by another healthcare system. Proceeds from the sale were used to completely renovate the facility, creating 192 behavioral health beds for persons experiencing serious mental illness. The money also was used to renovate the old emergency department, which serves the Maryvale community with over 40,000 visits annually. Proceeds also were used to fund construction of the new Valleywise Health Medical Center, which replaced the old “county” hospital that opened in 1971. These bonds are scheduled to mature July 1, 2038.
In 2017, funds from Series B bonds totaling $75 million were used to fund construction of new community health centers in north and south Phoenix. Those bonds matured on July 1, 2021.
The first “Series A” bonds totaling $106 million were issued in 2015 to fund construction of a comprehensive specialty outpatient center in Peoria at Grand Avenue and Cotton Crossing. Those bonds reached maturity July 1, 2018.
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