Terms Used In Arizona Laws 5-1161
- Authority: means a sports authority established pursuant to this chapter. See Arizona Laws 5-1101
- Authority board: means the governing board of the sports authority. See Arizona Laws 5-1101
- Bond: means any obligation authorized and issued pursuant to this article, including:
(a) Bonds and notes. See Arizona Laws 5-1161
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- infrastructure: means improvements that will directly and principally benefit the stadium or multipurpose facility and includes:
(i) Sanitary sewage systems. See Arizona Laws 5-1161
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Multipurpose facility: means a stadium or a facility for youth sports that is adapted for additional entertainment, cultural, civic, meeting, trade show or convention events, on-site infrastructure and related parking facilities and commercial activity within the facility. See Arizona Laws 5-1101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Stadium: means a facility intended primarily for use by one or more major league baseball spring training operations, including baseball stadiums, clubhouses, practice facilities, other related facilities, on-site infrastructure and related parking facilities and commercial activity within the facility. See Arizona Laws 5-1101
- Trustee: A person or institution holding and administering property in trust.
In this article, unless the context otherwise requires:
1. "Bond" means any obligation authorized and issued pursuant to this article, including:
(a) Bonds and notes.
(b) Certificates of participation in a lease-purchase or certificates of purchase in a lease or installment purchase agreement.
(c) Obligations that are authorized and issued to refund or refinance obligations that are authorized and issued pursuant to this article.
2. "Bond related expenses" means any expenses incurred by the authority for issuing and administering its bonds, including underwriting fees and costs, trustee fees, financial consultant fees, printing and advertising costs, paying agent fees, transfer agent fees, legal, accounting, feasibility consultant and other professional fees and expenses, credit enhancement fees, attorney and accounting fees and expenses related to credit enhancement, bond insurance or liquidity enhancement, remarketing fees, rating agency fees and costs, travel and telephone expenses and all other fees considered necessary by the authority board in order to market and administer the bonds.
3. "Sports authority purpose" includes:
(a) The capital costs of acquiring, designing, developing, constructing, reconstructing, equipping, furnishing, repairing, maintaining and improving stadiums and multipurpose facilities, directly related improvements and infrastructure, except as otherwise limited by this article. For the purposes of this subdivision, "infrastructure" means improvements that will directly and principally benefit the stadium or multipurpose facility and includes:
(i) Sanitary sewage systems.
(ii) Drainage and flood control systems.
(iii) Water systems.
(iv) Roadways for access, entry and exit and parking facilities.
(v) Pedestrian and other nonmotorized facilities for access, entry and exit and parking.
(vii) Lighting systems.
(viii) Traffic control systems, signals, controls, markings and signage.
(b) The payment of bonds.
(c) Bond related expenses.