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