Terms Used In Arizona Laws 5-1165
- 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
A. If the authority issues bonds under this article, the authority board shall establish a bond proceeds account within the general fund consisting of monies received from the sale of the bonds.
B. The authority board may use monies in the bond proceeds account only for sports authority purposes in the manner prescribed by this chapter.
C. The authority’s fiscal agent shall administer and account for the bond proceeds account.