Title 5 — Amusements and Sports

B. The department shall notify the director of the Arizona legislative council in writing of the date on which the condition was met.

1. "Advisory board" means the advisory board of the authority. 2. "Authority" means the southern Arizona sports, tourism and film authority. 3. "Board" means the board of directors of the authority. 4. "Indian tribe" means any organized Indian nation, tribe, band or community tha…

B. The authority is a corporate and political body, separate and independent of this state or the counties. Except as otherwise limited, modified or provided by this chapter, the authority has all of the rights, powers and immunities of municipal corporations except to acquire re…

1. Six members representing the county government of each county in the authority. The governor shall appoint two members, the president of the senate shall appoint two members and the speaker of the house of representatives shall appoint two members. 2. Four members who reside w…

1. Adopt and use a corporate seal. 2. Sue and be sued. 3. Enter into contracts, including intergovernmental agreements under pursuant to title 11, chapter 7, article 3, as necessary to carry out the purposes and requirements of this chapter. 4. Adopt administrative rules as neces…

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 any facility…

B. A member of the board of directors may not have any direct or indirect financial interest in any of the following: 1. Property owned, purchased or constructed by the authority. 2. A contract entered into by the authority. 3. A private corporation or other entity with which the…

B. For the purposes of this section, a gift does not include any of the following: 1. Salary, compensation or employer-reimbursed expenses lawfully paid to a board member or employee. 2. A family gift. 3. An award or prize that is given to competitors in a contest or event that i…

[Repealed or reserved.]

B. At the request of the chairperson of the joint legislative budget committee, the executive director shall appear before the joint legislative budget committee to report on the activities and financial performance of the authority during the previous year.

1. Receipts during the preceding fiscal year. 2. Expenditures during the preceding fiscal year. 3. Estimates of amounts necessary for expenses during the following fiscal year, including amounts proposed for administrative costs of the authority. 4. Anticipated revenue to the aut…

B. The authority may invest any unexpended monies in the general fund as provided in title 35, chapter 2. Interest and other income from investments of monies in any account shall be credited to that account except as otherwise provided by law. C. The authority's investments must…

B. On or before November 30 of the respective year, the auditor general shall issue a public report of the performance audit, including findings and specific recommendations for statutory and administrative changes to improve the operation of the authority. The auditor general sh…

B. The board shall immediately file a certified copy of the audit with the auditor general. The auditor general may make such further audits and examinations as necessary and may take appropriate action relating to the audit or examination pursuant to title 41, chapter 7, article…

1. "Authority purpose" includes: (a) The capital costs of acquiring, designing, developing, constructing, reconstructing, equipping, furnishing, repairing, maintaining and improving stadiums and multipurpose facilities, directly related improvements and infrastructure, except as …

1. Are payable only according to their terms. 2. Are obligations of the authority. 3. Are not general, special or other obligations of this state, or of the county or any city or town located in the authority. The members of the board and persons who execute the bonds are not per…

1. Provide sufficient monies for any authority purposes. 2. Establish and fully or partially fund any required reserves or sinking accounts. 3. Issue refunding bonds to refund bonds issued by the authority if the board considers refunding to be expedient. The board may provide fo…

B. The bonds may be sold by competitive public sale, through an online bidding process or at negotiated sale for public or private offering at the price and on the terms prescribed in the resolution. For the purposes of this subsection, "online bidding process" means a procuremen…

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.

B. Monies in the debt service account may be used only for the purposes authorized by this article. C. The authority's fiscal agent shall administer and account for the debt service account.

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 and deposited in the general fund or any account or subaccount of the general fund. 2. Pledge and assign to or in trust for the benefit of the h…

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 any further act. Any lien of any pledge is valid and binding against all parties who have claims of …

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 not redeemable at the time of purchase, the applicable redemption price on the first date after purchase on which t…

B. The members of the board and any persons who execute the bonds are not personally liable for the payment of the bonds. C. The authority's fiscal agent shall cancel all bonds when paid.

B. The order directing an investment shall state a date on which the proceeds from the sale of the bonds will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date. C. All monies earned as interest or otherwis…

B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date. C. All monies earned as i…

1. United States treasury obligations. 2. Consolidated farm loan bonds. 3. Obligations issued by the federal intermediate credit banks or bonds for cooperatives on authority of the farm credit act of 1933 (48 Stat. 257). 4. Any other obligations guaranteed by the United States go…

B. This section does not limit the power of the board to agree in connection with issuing any of its bonds as to the custody and disposition of the monies received from selling bonds or from the income and revenues pledged or assigned to or in trust for the benefit of the holder …

B. The bonds, their transfer and the income from the bonds are at all times free from taxation in this state. C. Bonds issued under this article: 1. Are securities in which public officers and bodies of this state and of municipalities and political subdivisions of this state, al…

B. An amendment of this chapter does not diminish or impair the validity of bonds issued under this article or the remedies and rights of bondholders. C. This state pledges to and agrees with the holders of the bonds authorized by this article that this state will not limit, alte…

B. The validity of bonds issued under this article does not depend on and is not affected by the legality of any proceeding relating to the acquisition, construction, improvement, operation or maintenance of a stadium or multipurpose facility for which the bonds are issued. C. Th…

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

A. The director shall issue state lottery revenue bonds pursuant to this article in an amount sufficient to provide monies to: 1. Deposit in the state general fund by December 31, 2010 an amount of not more than four hundred fifty million dollars. 2. Pay bond related expenses. 3.…

A. The state lottery revenue bonds shall be sold at public or private sale at the price and on the terms prescribed by the director at, above or below par. The first four hundred fifty million dollars of proceeds received from the issuance of state lottery revenue bonds shall be …

A. The state lottery revenue bond debt service fund is established. The fund shall consist of monies transferred pursuant to law. The department shall administer and account for the state lottery revenue bond debt service fund. B. If the director issues state lottery revenue bond…

A. In connection with issuing state lottery revenue bonds authorized by this article and to secure the principal and interest on the bonds, the director may: 1. Segregate the state lottery revenue bond debt service fund into one or more accounts and subaccounts and provide that b…

A. Any pledge made under this article in connection with state lottery revenue bonds is valid and binding from the time the pledge is made. B. The monies pledged and received by the state lottery revenue bond debt service fund and by the state lottery fund to be placed in the sta…

The director may purchase bonds for cancellation out of any monies available for the purchase, at a price of not more than either of the following: 1. If the bonds are redeemable at the time of the purchase, the applicable redemption price plus accrued interest to the next intere…

The state lottery revenue bonds shall be paid solely from monies from the state lottery revenue bond debt service fund established by section 5-534.

A. The director may authorize the state treasurer or bond trustee to invest monies in the state lottery revenue bond proceeds fund and the state lottery revenue bond debt service fund. B. The order directing an investment may state a specified time when the monies invested will b…

A. State lottery revenue 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 …

A. An amendment of any provision of this article does not diminish or impair the validity of bonds issued under this article or the remedies and rights of bondholders. B. This state pledges to and agrees with the holders of the bonds authorized by this article that this state wil…

A. This article constitutes full authority for authorizing and issuing state lottery revenue 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 authoriz…

Notwithstanding any other law, all state officials shall comply with all agreements made by the director with or for the benefit of the owners of its state lottery revenue bonds. The executive director of the state lottery commission shall provide assistance and information as re…

In this chapter, unless the context otherwise requires: 1. "Commission" means the Arizona state lottery commission. 2. "Director" means the executive director of the Arizona state lottery commission. 3. "Lottery" or "state lottery" means the lottery created and operated pursuant …

A. There is established the Arizona state lottery commission consisting of five members who shall be citizens and residents of this state and appointed by the governor pursuant to section 38-211. No more than three members may be from the same political party. The term of members…

A. An executive director appointed by the governor pursuant to section 38-211 shall exercise immediate supervision over the lottery. The director shall be a person qualified by training and experience to administer the state lottery. The director shall be appointed by the governo…

A. The commission shall meet with the director not less than once each quarter to make recommendations and set policy, receive reports from the director and transact other business properly brought before the commission. B. The commission shall oversee a state lottery to produce …

A. Not more than eighteen and one-half per cent of the total annual revenues accruing from the sale of lottery tickets or shares and from all other sources and not more than thirty-five per cent of the total annual revenues from the sale of special instant games authorized under …

In addition to other powers and duties prescribed in this chapter, the director shall: 1. Supervise and administer the operation of the lottery in accordance with this chapter and the rules adopted under this chapter, subject to the continuous duty to take into account the partic…