Arizona § 5-870 Use of surplus monies

Arizona Statutes

§ 5-870 — Use of surplus monies

Arizona § 5-870

Title 5Arizona Revised Statutes

Ch. 8TOURISM AND SPORTS AUTHORITY

Art. 3Revenue Bonds

This text of Arizona § 5-870 (Use of surplus monies) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 5-870 (2026).

Text

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, the board shall credit the remaining balance to the authority’s operating account established by section 5-836.

B.If a balance remains in the debt service account after payment of all bonds, interest and other charges related to bonds issued under this article, the board shall credit the balance to the authority’s operating account established by section 5-836.

Free access — add to your briefcase to read the full text and ask questions with AI

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, the board shall credit the remaining balance to the authority’s operating account established by section 5-836.

B. If a balance remains in the debt service account after payment of all bonds, interest and other charges related to bonds issued under this article, the board shall credit the balance to the authority’s operating account established by section 5-836.