Building Update

Phase 2 Building Update

In March 2006 construction was completed on our multi-purpose building. We were excited to finally meet in our own building, but quickly realized that we needed more space for Bible study, youth meetings, fellowship functions and other activities, so the following steps have been taken.

Item Completion Date

Phase 2 Team begins work February 2007

  • Architect selected — October 2007
  • Building design — Spring 2009
  • Contractor selected — Fall 2009
  • Building permits approved by City of Chandler — January 2010
  • Bond Issue — See below
  • Begin Construction — See below
  • Complete Construction — Pending
  • The necessary financial audits were completed and submitted to Rives, Leavell & Co. RLC will print the bond prospectus and submit it to the Arizona securities regulators for approval. Once the bond issue and prospectus are approved, RLC can begin selling the bonds. First Baptist Church and friends have the exclusive right to buy bonds for seven days.

    After that, RLC will begin marketing the bonds to their clients.
    Once we have sold $1.4M of the bonds we will be able to use those funds to start construction of the new building.

    FBC Bond Information
    Please keep in mind that our bonds will be available for purchase in the near future.
    Fixed interest rates: 3.25% – 7.20%
    simple and deferred compound
    Term: 6 months – 30 years

    Purchases will be made directly from the issuer. Our members and friends will have exclusive rights to buy the bonds for the first seven days. Upon approval of the Arizona security regulators, the prospectus will be made available