A. The authority shall maintain a construction account in the general fund consisting of:

Terms Used In Arizona Laws 5-833

  • Authority: means the tourism and sports authority. See Arizona Laws 5-801
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Multipurpose facility: means any facility that is suitable to be used to accommodate professional football franchises, major college football bowl sponsors, other sporting events and entertainment, cultural, civic, meeting, trade show or convention events or activities and may include a stadium, on-site infrastructure, parking garages and lots and related commercial uses within the facility. See Arizona Laws 5-801

1. Monies received by the authority from any source for the purpose of acquiring land for and funding the cost of constructing a multipurpose facility, including financial participation for capital costs of the facility from any private or public source.

2. Proceeds of bonds issued by the authority pursuant to section 5-863, which shall be held in a segregated bond proceeds subaccount in the construction account.

B. The authority may spend monies in the construction account for costs of any multipurpose facility purpose, as defined in section 5-861.

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