Title 5 — Amusements and Sports

In this chapter, unless the context otherwise requires: 1. "Authority" means the tourism and sports authority. 2. "Board" means the board of directors of the authority. 3. "Indian tribe" means any organized Indian nation, tribe, band or community that is recognized as an Indian t…

A. The tourism and sports authority is established. The boundaries of the authority are the boundaries of any county that has a population of more than two million persons. B. The authority is a corporate and political body and, except as otherwise limited, modified or provided b…

A. The authority is governed by a board of directors consisting of the following members who must reside in the county in which the authority is established: 1. Five members appointed by the governor pursuant to section 38-211. No more than three of these members may be from the …

A. The board of directors, on behalf of the authority, may: 1. Adopt and use a corporate seal. 2. Sue and be sued. 3. Enter into contracts, including intergovernmental agreements under title 11, chapter 7, article 3, as necessary to carry out the purposes and requirements of this…

B. The executive director shall negotiate, make, execute, acknowledge and perform contracts and other agreements in the interest of the authority or to carry out or accomplish the purposes of this chapter, including construction contracts and agreements with users of the multipur…

A. A principal or lobbyist or any other person acting on behalf of a principal or lobbyist shall not give a gift to any board member or employee of the board and a board member or employee of the board shall not accept a gift from a principal or lobbyist. B. For the purpose of th…

A. The authority shall construct, finance, furnish, maintain, improve, operate, market and promote the use of a multipurpose facility and do all things necessary or convenient to accomplish those purposes. One or more site hosts shall provide the land, infrastructure and parking …

A. From monies in the cactus league promotion account established by section 5-837, the authority may: 1. Acquire land or construct, finance, furnish, improve, market or promote the use of existing or proposed major league baseball spring training facilities that are located in t…

A. From monies in the youth and amateur sports facilities account established by section 5-838, the authority may: 1. Acquire land or construct, finance, furnish, maintain, improve, operate, market or promote the use of community youth and amateur sports facilities, recreational …

Subject to the requirements of title 4, the board may permit and regulate the sale, use and consumption of alcoholic beverages at events held on property acquired, leased or subleased under this chapter.

A. The directors, officers and employees of the authority are subject to title 38, chapter 3, article 8 relating to conflicts of interest. B. A director, officer or employee of the authority shall not have any direct or indirect financial interest in any property owned, purchased…

A. Beginning not later than 2004 and at least every fifth year thereafter, the auditor general shall conduct a performance audit, as defined in section 41-1278, of the authority. B. On or before November 30 of the respective year the auditor general shall issue a public report of…

A. Notwithstanding any other law, the authority shall: 1. Establish disadvantaged business enterprise participation goals for the design, engineering and construction of the multipurpose facility under section 5-807 based on the availability of ready, willing and able disadvantag…

A. Within three weeks after the end of each calendar month the authority shall prepare a report signed by the executive director of the authority and transmit the report to the governor, the legislature, as provided by section 41-1178, and the joint legislative budget committee. …

A. The authority shall enter into a special use agreement for the sole purpose of hosting at the multipurpose facility an intercollegiate football national championship game or playoff games. The authority may only contract for this purpose with a nonprofit community based organi…

A. Beginning in 2001, on or before June 30 of each year the board shall hold a public hearing to adopt a budget for the following fiscal year that includes: 1. Receipts during the past fiscal year. 2. Expenditures during the past fiscal year. 3. Estimates of amounts necessary for…

A. The authority shall maintain a general fund, divided into a construction account, a facility revenue clearing account and a tourism revenue clearing account. The authority may establish additional accounts and subaccounts as necessary and convenient. All revenues and monies re…

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 …

A. The authority shall maintain a facility revenue clearing account in the general fund consisting of: 1. Revenues received from dedicated public funding sources as provided by law. 2. Payments received from leasing, subleasing or renting property owned, leased or controlled by t…

A. The authority shall maintain a tourism revenue clearing account within the general fund consisting of monies transmitted to the authority by the state treasurer pursuant to sections 5-839 and 5-840. On the second Tuesday of each month, the treasurer of the authority shall dist…

A. The authority shall maintain an operating account consisting of monies transmitted to the account pursuant to sections 5-834 and 5-835. B. The authority may spend monies in the operating account for costs incurred for any of the following purposes: 1. Operating, marketing, pro…

A. The authority shall maintain a cactus league promotion account consisting of monies transmitted to the account pursuant to section 5-835. B. The authority shall use monies in the account for purposes of section 5-808. C. The authority may pledge all or part of the revenues and…

A. The authority shall maintain a youth and amateur sports facilities account consisting of monies transmitted to the account pursuant to section 5-835. B. The authority shall establish a youth and amateur sports facilities reserve within the account consisting of monies transmit…

A. The qualified electors residing in the authority, by majority vote at an election held in the authority, may levy and, if levied, the department of revenue shall collect a car rental surcharge beginning on the first day of the first month beginning ninety days after the electi…

A. The qualified electors residing in the authority, by majority vote at an election held in the authority, may levy and, if levied, the department of revenue shall collect a tax on the gross proceeds of sales or gross income from the business of every person engaging or continui…

A. The board of directors shall cause an annual audit to be conducted of each of the authority’s funds, accounts and subaccounts by an independent certified public accountant within one hundred twenty days after the end of the fiscal year. B. The board shall immediately file a ce…

In this article, unless the context otherwise requires: 1. "Bond related expenses" means any expenses incurred by the authority to issue and administer its bonds including underwriting fees and costs, trustee fees, financial consultant fees, printing and advertising costs, paying…

A. The authority may issue negotiable bonds pursuant to this article in such principal amount as, in the opinion of the board, is necessary to: 1. Provide sufficient monies for any multipurpose facility purpose. 2. Pay necessary bond related expenses. 3. Establish and fully or pa…

A. The board shall issue the bonds in the number and amount provided in the resolution. B. The bonds may be sold by competitive bid or negotiated sale for public or private offering at the price and on the terms prescribed in the resolution. C. The proceeds from the sale of the b…

A. If the authority issues bonds under this article, the board shall establish a bond proceeds subaccount within the construction account established by section 5-833 consisting of monies received from the sale of the bonds. B. The authority may use monies in the bond proceeds su…

A. If the authority issues bonds under this article the board shall establish a debt service account consisting of monies designated and dedicated by the board for repayment of the bonds and payment of costs and related expenses associated with redeeming the bonds. B. Monies in t…

In connection with issuing bonds authorized by this article and to secure the principal and interest on the bonds, the board by resolution may: 1. Pledge for the payment of principal and interest on the bonds all or part of the revenues and other monies received by the authority …

A. Any pledge made under this article is valid and binding from the time when the pledge is made. B. The monies pledged to the holders of the bonds and received by the authority for placement in the debt service account are immediately subject to the lien of the pledge without an…

The board may purchase bonds for cancellation, using any available monies, at a price not exceeding the following: 1. If the bonds are redeemable at the time of purchase, the applicable redemption price plus accrued interest to the next interest payment date. 2. If the bonds are …

A. The bonds shall be paid solely from monies in the debt service account. B. Neither the members of the board nor any person executing the bonds is personally liable for the payment of the bonds. C. The treasurer or fiscal agent of the authority shall cancel all bonds when paid.…

A. If a balance remains in the bond proceeds subaccount after all acquisition, construction and related costs have been paid: 1. The board shall credit the balance to repay any other outstanding indebtedness of the authority. 2. If the authority has no outstanding indebtedness, t…

A. The board may authorize the treasurer or fiscal agent of the authority to invest monies in the bond proceeds subaccount in the manner prescribed by section 5-873. B. The order directing an investment shall state a date on which the proceeds from the sale of the bonds will be n…

A. The board may authorize the treasurer or fiscal agent of the authority to invest and reinvest any monies in the debt service account as provided by section 5-873. B. The order directing an investment shall state a date on which the monies and other resources in the debt servic…

A. The monies in either the bond proceeds subaccount or the debt service account may be invested and reinvested at the direction of the board in any of the following: 1. United States treasury obligations. 2. Consolidated farm loan bonds. 3. Obligations issued by the federal inte…

A. Monies derived from selling bonds under this article or pledged or assigned to or in trust for the benefit of the holder or holders of the bonds shall be deposited by the treasurer or fiscal agent in financial institutions that the board designates and that are insured by an a…

A. Bonds issued under this article are fully negotiable within the meaning and for all purposes of the uniform commercial code, subject only to any provisions for registration, regardless of whether the bonds actually constitute negotiable instruments under the uniform commercial…

A. Bonds issued under this article remain valid and binding obligations of the authority notwithstanding that before the delivery of the bonds any of the persons whose signatures appear on the bonds cease to be officers of the authority. B. An amendment of any provision in this c…

A. This article constitutes full authority for authorizing and issuing bonds without reference to any other law of this state. No other law with regard to authorizing or issuing obligations or that in any way impedes or restricts performing the acts authorized by this article may…