Investor relations
SRP has provided reliable water and power to central Arizona for more than a century, helping the Phoenix metropolitan area thrive. But we’re not stopping there. See why you can have confidence in our plan to build a better future.
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A reliable investment
See the credit ratings assigned to SRP as of September 2025.
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2024 bond authorization
On September 5, 2024, The Arizona Corporation Commission (ACC) approved SRP’s request to issue up to $6.4 billion in tax-exempt revenue bonds to help finance new generation, transmission and distribution projects that are needed to support the growth of the Phoenix metropolitan area and help ensure reliable, affordable and sustainable power for SRP customers.
The ACC also approved up to $7 billion in revenue refunding bonds to refinance debt and lower borrowing costs for SRP, which helps keep costs down for customers.
While the ACC approved the total amount of revenue bonds that SRP may issue over time, the SRP Board of Directors and SRP Council must approve each separate bond sale, when needed.
Funding the Valley’s future
As the Valley of the Sun continues to prosper, SRP remains committed to providing affordable, reliable power to meet increasing demand.
SRP occasionally issues revenue bonds to support capital projects and, when necessary, enhance existing infrastructure.
SRP revenue bonds pay a fixed interest rate over the life of the bonds. Typically, earned interest is exempt from federal taxes. State tax exemptions are, in most cases, available for bond purchasers who are residents in the state where the bonds are issued.
Note: SRP encourages you to work with your tax adviser to fully understand tax implications.
View bond disclosures
You can see all of SRP’s current bond disclosures on the Electronic Municipal Market Access (EMMA) website
, operated by the Municipal Securities Rulemaking Board (MSRB).
The EMMA system provides a comprehensive, centralized and free source for all details related to bonds, including official statements, continuing disclosure submissions, advance refunding documents, and real-time trade price information on municipal securities.
See existing bonds
Explore the list of SRP Revenue Bond issues and click on any link to see more information on EMMA.
Electric System Revenue Bonds
| Series | Original Par Amount | Dated |
| 2025 Series B |
637,230,000 | 3/4/2025 |
| 2025 Series A |
277,930,000 | 3/3/2025 |
| 2024 Series B |
144,865,000 | 10/9/2024 |
| 2024 Series A |
555,135,000 | 10/9/2024 |
| 2023 Series B |
650,000,000 | 11/21/2023 |
| 2023 Series A |
500,000,000 | 2/28/2023 |
| 2022 Series A |
193,065,000 | 3/4/2022 |
| 2021 Series A |
277,400,000 | 10/1/2020 |
| 2020 Series B |
100,000,000 | 10/1/2020 |
| 2020 Series A |
224,670,000 | 10/1/2020 |
| 2019 Series A |
461,170,000 | 10/24/2019 |
| 2017 Series A |
735,240,000 | 11/9/2017 |
| 2016 Series A |
760,965,000 | 11/18/2016 |
| 2015 Series A |
924,000,000 | 5/15/2015 |
| 2010 Series A |
500,000,000 | 10/7/2010 |
Review our financials
Download SRP’s latest financials.
Stay in the know
See the latest updates and notices about SRP’s financial decisions.
Independent Registered Municipal Advisor information (IRMA)
Effective May 23, 2022, SRP has retained PFM Financial Advisors, LLC ("PFM"), an independent registered municipal advisor, as its financial advisor.
SRP is represented by and will rely on the advice of PFM when considering information provided by financial services firms concerning the issuance of municipal securities and municipal financial products.
Download the complete Notice of Retention of an Independent Registered Municipal Advisor
Updates to Revolving Credit Agreements
At the March 3, 2025 meeting of the Board of Directors (the “Board”) of the Salt River Project Agricultural Improvement and Power District (the “District”), wherein a quorum was present and voted, a majority of the Board authorized the District to execute and deliver a Revolving Credit Agreement with PNC Bank, N.A., as the lender, with a term of three years and a borrowing limit not to exceed $200,000,000.
No changes were made to the Bank of America, N.A., $250,000,000 Revolving Credit Agreement. Final maturity date of December 9, 2025.
No changes were made to the JPMORGAN CHASE BANK, N.A., $175,000,000 Revolving Credit Agreement. Final maturity date of June 29, 2026.
No changes were made to the TD Bank, N.A., $175,000,000 Revolving Credit Agreement. Final maturity date of July 14, 2026.
The U.S. Bank, N.A. $200,000,000 Revolving Credit Agreement, with a final maturity date of June 27, 2025, was allowed to expire pursuant to its terms.
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