Title 5, Amusements and Sports

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 pursuant to title 11, chapter 7, article 3, as necessary to carry out the purposes and requirem…

A. The executive director is responsible for managing, administering and supervising the activities of the authority. 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 …

A. The members of the board are subject to title 38, chapter 3, article 8, relating to conflicts of interest, including the penalties prescribed in section 38-510. B. A member of the board of directors may not have any direct or indirect financial interest in any of the following…

A. A principal or lobbyist or any other person acting on behalf of a principal or lobbyist may not give a gift to any member or employee of the board, and a board member or employee may not accept a gift from a principal or lobbyist. B. For the purposes of this section, a gift do…

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

A. Within three months after the end of each fiscal year, the authority shall prepare a report signed by the executive director and transmit the report to the joint legislative budget committee. The report shall include a progress report of the activities of the authority during …

A. On or before May 31 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 preceding fiscal year. 2. Expenditures during the preceding fiscal year. 3. Estimates of amounts necessary for expenses…

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 authority may invest any unexp…

A. Beginning not later than 2027, 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. The board 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 certified copy …

In this article, unless the context otherwise requires: 1. "Authority purpose" includes: (a) The capital costs of acquiring, designing, developing, constructing, reconstructing, equipping, furnishing, repairing, maintaining and improving stadiums and multipurpose facilities, dire…

Bonds issued under this article: 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 …

A. The board may issue bonds pursuant to this article in a principal amount that is necessary to: 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 …

A. The board shall issue the bonds in the number and amount provided in the resolution. The board shall provide published notice within fifteen days to the public of its intention to issue bonds. B. The bonds may be sold by competitive public sale, through an online bidding proce…

A. If the authority issues bonds under this article, the board shall establish a bond proceeds account within the general fund consisting of monies received from the sale of the bonds. B. The board may use monies in the bond proceeds account only for authority purposes in the man…

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

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 of not more than 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 a…

A. The bonds shall be paid solely from monies in the debt service account. 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.

A. The board may authorize the authority's fiscal agent to invest monies in the bond proceeds account in the manner prescribed by section 5-1473. 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 t…

A. The board may authorize the authority's fiscal agent to invest and reinvest any monies in the debt service account as provided by section 5-1473. B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be…

A. The monies in either the bond proceeds account 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 interme…

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 authority's fiscal agent in financial institutions that the board designates and that are insured by an ag…

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 person whose signature appears on the bonds ceases to be an officer of the authority. B. An amendment of this chapter does not dimin…

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 app…

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…