Title 5 — Amusements and Sports

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…

(Conditionally Rpld.) In this chapter, unless the context otherwise requires: 1. "Advisory board" means the advisory board of the sports authority. 2. "Authority" means a sports authority established pursuant to this chapter. 3. "Authority board" means the governing board of the …

(Conditionally Rpld.) A. A sports authority district is established in each county having a population of more than five hundred thousand but less than two million persons. The boundaries of the district are the boundaries of the county. B. The county board of supervisors shall s…

(Conditionally Rpld.) A. The board of directors may call an election of the qualified electors of the district to authorize the establishment of a sports authority within and coterminous with the boundaries of the district. The election, if held, shall occur on one of the next ei…

(Conditionally Rpld.) A. The authority board shall submit a plan for the operation of the sports authority, including proposals for the construction, renovation, expansion or repair of stadiums, multipurpose facilities and youth sports facilities as provided in this chapter. The …

(Conditionally Rpld.) A. The executive director of the authority is responsible to the authority board for managing, administering and supervising the activities of the authority. B. The executive director shall negotiate, make, execute, acknowledge and perform contracts and othe…

(Conditionally Rpld.) A. 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 the authority and other structures, utilities, roads, parkin…

(Conditionally Rpld.) A. Except as provided by section 5-1139, the authority shall spend at least ten per cent of its general revenues for the purpose of promoting youth sports and recreation and may: 1. Acquire land or construct, finance, furnish, maintain, improve, operate, mar…

(Conditionally Rpld.) A. A principal or lobbyist or any other person acting on behalf of a principal or lobbyist shall not give a gift to any member of the board of directors or any member or employee of the authority board, and an authority board member or employee shall not acc…

(Conditionally Rpld.) Subject to the requirements of title 4, the authority 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.

(Conditionally Rpld.) A. The members of the authority board are subject to title 38, chapter 3, article 8, relating to conflicts of interest, including the penalties prescribed by section 38-510. B. A member of the board of directors shall not have any direct or indirect financia…

(Conditionally Rpld.) A. Beginning in 2011 and at least every fifth year thereafter, the auditor general shall conduct or cause to be conducted a performance audit, as defined in section 41-1278, of the authority. B. On or before June 30 of the respective year, the auditor genera…

(Conditionally Rpld.) A. Within six weeks after the end of each calendar quarter the authority shall prepare a report signed by the executive director and transmit the report to the governor, the legislature, as provided by section 41-1178, and the joint legislative budget commit…

(Conditionally Rpld.) A. On or before May 31 of each year, the authority board shall hold a public hearing to adopt a budget for the following fiscal year that includes: 1. Receipts during the preceding fiscal year. 2. Expenditures during the preceding fiscal year. 3. Estimates o…

(Conditionally Rpld.) A. The authority shall maintain a general fund and may establish accounts and subaccounts within the general fund as necessary and convenient. All revenues and monies received by the authority shall initially be deposited in the general fund. B. The authorit…

(Conditionally Rpld.) A. The qualified electors, by majority vote at an election held pursuant to section 5-1103, may levy and, if levied, the department of revenue shall collect an excise tax on the gross proceeds of sales or gross income from the business of leasing or renting …

(Conditionally Rpld.) A. The qualified electors, by majority vote at an election held pursuant to section 5-1103, 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 co…

(Conditionally Rpld.) A. The qualified electors, by majority vote at an election held pursuant to section 5-1103, 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 co…

(Conditionally Rpld.) A. The qualified electors, by majority vote at an election held pursuant to section 5-1103, may levy and, if levied, the department of revenue shall collect a tax on the gross proceeds of sales or gross income from persons taxed under title 42, chapter 5 and…

(Conditionally Rpld.) A. The qualified electors, by majority vote at an election held pursuant to section 5-1103, 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 co…

(Conditionally Rpld.) A. Unless the context otherwise requires, section 42-6102 governs the administration of the taxes imposed under this article. B. Each month the state treasurer shall transmit the net revenues collected pursuant to this article to the authority for deposit in…

(Conditionally Rpld.) A. If, seventy-two months after the district is established, at least two major league baseball franchises have not executed binding contractual agreements for use of stadiums and other facilities in the district as their exclusive sites for spring training …

(Conditionally Rpld.) A. The board of directors of the district 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.…