(Conditionally Rpld.)

A. Except as provided by section 5-1139, the authority shall spend at least ten per cent of its general revenues for the purpose of promoting youth sports and recreation and may:

1. Acquire land or construct, finance, furnish, maintain, improve, operate, market or promote the use of youth sports facilities, recreational facilities and other community facilities or programs that are located in the authority.

2. Do all things necessary or convenient to accomplish the purposes described in this subsection.

B. The authority board may require that any project undertaken pursuant to this section include financial participation from the county, municipality or school district in which the project is located, from any other party or from any combination of these entities. Capital improvement monies spent by a county, municipality, school district or other party for a purpose authorized by this section may be considered to be financial participation with respect to any project the authority may undertake if the expenditures occur after the authority is established.

C. For the purposes of financing, designing, constructing or operating facilities or structures, the authority is not the agent of any other party participating in the funding of the facility or structure after the authority is established.

D. For the purposes of subsection A of this section, the amount spent shall be measured at the end of every tenth fiscal year following the establishment of the authority for the entire period since the formation of the authority, except that the requirement shall not interfere with, delay or impede the payment of any amounts due and payable on any outstanding obligation of the authority.