A. If the authority issues bonds under this article, the board shall establish a bond proceeds account within the general fund consisting of monies received from the sale of the bonds.

Terms Used In Arizona Laws 5-1465

  • Authority: means the southern Arizona sports, tourism and film authority. See Arizona Laws 5-1401
  • Board: means the board of directors of the authority. See Arizona Laws 5-1401
  • Bond: means any obligation authorized and issued pursuant to this article, including:

    (a) Bonds and notes. See Arizona Laws 5-1461

B. The board may use monies in the bond proceeds account only for authority purposes in the manner prescribed by this chapter.

C. The authority’s fiscal agent shall administer and account for the bond proceeds account.

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