Arizona § 5-872 Investment of monies in debt service account

Arizona Statutes

§ 5-872 — Investment of monies in debt service account

Arizona·Title 5 Arizona Revised Statutes·Ch. 8 TOURISM AND SPORTS AUTHORITY·Art. 3 Revenue Bonds

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 service account will be needed for use, and the treasurer or 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 otherwise derived from the investment of the monies in the debt service account shall be credited to that account.

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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 service account will be needed for use, and the treasurer or 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 otherwise derived from the investment of the monies in the debt service account shall be credited to that account.

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