reglab/housing_qa huggingface dataset:
AZ Rev Stat § 5-1161 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1161 - Definitions

5-1161.  Definitions (Conditionally Rpld.) In this article,  unless the context otherwise requires: 1. " Bond"  means any obligation authorized and issued pursuant to this article,  including: (a) Bonds and notes. (b) Certificates of participation in a lease-purchase or certificates of purchase in a lease or installment purchase agreement. (c) Obligations that are authorized and issued to refund or refinance obligations that are authorized and issued pursuant to this article. 2. " Bond related expenses"  means any expenses incurred by the authority for issuing and administering its bonds,  including underwriting fees and costs,  trustee fees,  financial consultant fees,  printing and advertising costs,  paying agent fees,  transfer agent fees,  legal,  accounting,  feasibility consultant and other professional fees and expenses,  credit enhancement fees,  attorney and accounting fees and expenses related to credit enhancement,  bond insurance or liquidity enhancement,  remarketing fees,  rating agency fees and costs,  travel and telephone expenses and all other fees considered necessary by the authority board in order to market and administer the bonds. 3. " Sports 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 otherwise limited by this article. For the purposes of this subdivision,  " infrastructure"  means improvements that will directly and principally benefit the stadium or multipurpose facility and includes: (i) Sanitary sewage systems. (ii) Drainage and flood control systems. (iii) Water systems. (iv) Roadways for access,  entry and exit and parking facilities. (v) Pedestrian and other nonmotorized facilities for access,  entry and exit and parking. (vi) Landscaping. (vii) Lighting systems. (viii) Traffic control systems,  signals,  controls,  markings and signage. (b) The payment of bonds. (c) Bond related expenses.
AZ Rev Stat § 5-1162 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1162 - Obligation for the bonds

5-1162.  Obligation for the bonds (Conditionally Rpld.) 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 of directors and the authority board and persons who execute the bonds are not personally liable for payment of the bonds. 4. Do not constitute a debt of this state or of the county or any city or town located in the authority. 5. Are not enforceable against this state. Payment of the bonds is enforceable only out of any monies or assets of the authority specifically pledged and assigned to or in trust for the benefit of the holder or holders of the bonds.
AZ Rev Stat § 5-1163 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1163 - Authorization of bonds

5-1163.  Authorization of bonds (Conditionally Rpld.) A. The authority may issue bonds pursuant to this article in a principal amount that is necessary to: 1. Provide sufficient monies for any sports 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 authority board considers refunding to be expedient. The board may provide for investing and holding the proceeds of the refunding bonds in trust for the benefit of the holders of the bonds being refunded. B. The authority board shall authorize the bonds by resolution. The resolution shall prescribe: 1. The revenue sources that are pledged and dedicated to secure the bonds. 2. The rate or rates of interest,  which may be fixed or variable,  the date or dates on which interest is payable and the denominations of the bonds. 3. The date or dates of the bonds and maturity,  which shall be within thirty years after the date of issuance. 4. The manner of executing the bonds. 5. The medium and place of payment. 6. The terms of redemption,  which may provide for a premium for early redemption.
AZ Rev Stat § 5-1164 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1164 - Issuance and sale of bonds

5-1164.  Issuance and sale of bonds (Conditionally Rpld.) A. The authority board shall issue the bonds in the number and amount provided in the resolution. The authority board shall provide published notice within fifteen days to the public and to the district board of directors of its intention to issue bonds. 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 procurement process in which the board receives bids electronically over the internet in a real-time,  competitive bidding event. C. The proceeds from the sale of the bonds shall be deposited in the bond proceeds account established pursuant to section 5-1165. D. Title 35,  chapter 3,  article 7 applies to the authority board and to bonds issued under this article.
AZ Rev Stat § 5-1165 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1165 - Bond proceeds account

5-1165.  Bond proceeds account (Conditionally Rpld.) A. If the authority issues bonds under this article,  the authority board shall establish a bond proceeds account within the general fund consisting of monies received from the sale of the bonds. B. The authority board may use monies in the bond proceeds account only for sports authority purposes in the manner prescribed by this chapter. C. The authority's fiscal agent shall administer and account for the bond proceeds account.
AZ Rev Stat § 5-1166 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1166 - Debt service account

5-1166.  Debt service account (Conditionally Rpld.) A. If the authority issues bonds under this article,  the authority 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 the bonds. 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.
AZ Rev Stat § 5-1167 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1167 - Securing principal and interest

5-1167.  Securing principal and interest (Conditionally Rpld.) In connection with issuing bonds authorized by this article and to secure the principal and interest on the bonds,  the authority 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 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 holder or holders of the bonds all or part of the monies in the debt service account or any other account or subaccount as necessary to secure and pay the principal,  the interest and any premium on the bonds as they come due. 3. Segregate the debt service account into one or more subaccounts and provide that bonds issued under this article may be secured by a lien on all or part of the monies paid into the debt service account or into any subaccount in the debt service account. 4. Establish priorities among bondholders based on criteria adopted by the board. 5. Set aside,  regulate and dispose of reserves and sinking accounts. 6. Prescribe the procedure,  if any,  by which the terms of any contract with bondholders may be amended or abrogated,  the amount of bonds the holders of which must consent to and the manner in which the consent may be given. 7. Provide for payment of bond related expenses from the proceeds of the sale of the bonds or other revenues available to the board. 8. Provide for the services of trustees,  cotrustees,  agents and consultants and other specialized services with respect to the bonds. 9. Take any other action that in any way may enhance the security and protection of the bonds or interest on the bonds.
AZ Rev Stat § 5-1168 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1168 - Lien of pledge

5-1168.  Lien of pledge (Conditionally Rpld.) 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 any further act. Any lien of any pledge is valid and binding against all parties who have claims of any kind against the authority,  regardless of whether the parties have notice of the lien. The official resolution or any instrument by which this pledge is created,  when adopted by the authority board,  is notice to all concerned of the creation of the pledge,  and those instruments need not be recorded in any other place to perfect the pledge.
AZ Rev Stat § 5-1169 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1169 - Bond purchase for cancellation

5-1169.  Bond purchase for cancellation (Conditionally Rpld.) The authority 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 not redeemable at the time of purchase,  the applicable redemption price on the first date after purchase on which the bonds become subject to redemption plus accrued interest to that date.
AZ Rev Stat § 5-1170 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1170 - Payment of bonds

5-1170.  Payment of bonds (Conditionally Rpld.) A. The bonds shall be paid solely from monies in the debt service account. B. The members of the authority 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.
AZ Rev Stat § 5-1171 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1171 - Investment of monies in the bond proceeds account

5-1171.  Investment of monies in the bond proceeds account (Conditionally Rpld.) A. The authority board may authorize the authority's fiscal agent to invest monies in the bond proceeds account in the manner prescribed by section 5-1173. 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 otherwise derived from the investment of the monies in the bond proceeds account shall be credited as described in the authorizing resolution.
AZ Rev Stat § 5-1172 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1172 - Investment of monies in the debt service account

5-1172.  Investment of monies in the debt service account (Conditionally Rpld.) A. The authority board may authorize the authority's fiscal agent to invest and reinvest any monies in the debt service account as provided by section 5-1173. 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 interest or otherwise derived from the investment of the monies in the debt service account shall be credited as described in the authorizing resolution.
AZ Rev Stat § 5-1173 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1173 - Authorized investment of monies

5-1173.  Authorized investment of monies (Conditionally Rpld.) A. The monies in either the bond proceeds account or the debt service account may be invested and reinvested at the direction of the authority board in any of the following: 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. 4. Any other obligations guaranteed by the United States government. 5. Any investments that are authorized by any other agencies of the United States government and that are authorized to secure public deposits. 6. State and local government series United States treasury securities. 7. State,  county or municipal bonds issued in this state and on which the payments of interest have not been deferred. 8. Investment agreements and repurchase agreements collateralized by investments described in paragraphs 1 through 5. 9. Investment agreements from providers rated in one of the two highest rating categories by a nationally recognized rating agency. B. The purchase of the securities shall be made by the authority's fiscal agent on authority of a resolution of the authority board. The fiscal agent shall act as custodian of all securities purchased. C. The authority board may place any restrictions on reinvestment yield on bond proceeds or on any monies pledged to pay the bonds if necessary to comply with federal income tax laws and regulations to gain any federal tax benefits available with respect to the bonds.
AZ Rev Stat § 5-1174 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1174 - Deposit and disbursement of monies

5-1174.  Deposit and disbursement of monies (Conditionally Rpld.) 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 authority board designates and that are insured by an agency or instrumentality of the United States. The monies shall be disbursed as the authority board directs and according to the terms of any agreements with the holder or holders of the bonds. B. This section shall not be construed as limiting the power of the authority board to agree in connection with the issuance of 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 or holders of the bonds.
AZ Rev Stat § 5-1175 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1175 - Characteristics of bonds; negotiability; legal investments; exemption from taxation

5-1175.  Characteristics of bonds;  negotiability;  legal investments;  exemption from taxation (Conditionally Rpld.) 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 code. 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,  all companies,  associations and other persons carrying on an insurance business,  all financial institutions,  investment companies and other persons carrying on a banking business,  all fiduciaries and all other persons who are authorized to invest in government obligations may properly and legally invest. 2. Are securities that may be deposited with public officers or bodies of this state and municipalities and political subdivisions of this state for purposes that require the deposit of government bonds or obligations.
AZ Rev Stat § 5-1176 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1176 - Effect of changing circumstances on bonds; agreement of state

5-1176.  Effect of changing circumstances on bonds;  agreement of state (Conditionally Rpld.) 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 any provision in 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,  alter or impair the rights vested in the authority to receive the monies necessary to fulfill the terms of any agreements made with the holders of the bonds,  or in any way impair the rights and remedies of the bondholders,  until all bonds issued under this article,  together with interest on the bonds,  interest on any unpaid installments of principal or interest and all costs and expenses in connection with any action or proceedings by or on behalf of the bondholders,  are fully met and discharged. The authority board,  as agent for this state,  may include this pledge and undertaking in its resolutions and indentures authorizing and securing its bonds.
AZ Rev Stat § 5-1177 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1177 - Validity of bonds; legal opinion

5-1177.  Validity of bonds;  legal opinion (Conditionally Rpld.) 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 be construed to apply to any proceedings taken or acts done pursuant to this article. 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. The authority board may submit any bonds to be issued under this article to a nationally recognized bond counsel after all proceedings for authorizing the bonds have been completed. On submission the counsel shall examine and pass on the validity of the bonds and the regularity of the proceedings. If the proceedings comply with this article,  and if the bonds when delivered and paid for will constitute binding and legal obligations of the authority,  the counsel shall certify on the back of each bond,  in substance,  that it is issued according to the constitution and laws of this state and that the interest on the bonds will be exempt from state taxes as provided by law. D. The bonds shall recite that they are regularly issued pursuant to this article. That recital,  together with the legal opinion under subsection C,  constitutes prima facie evidence of the legality and validity of the bonds. From and after the sale and delivery of the bonds,  they are incontestable by this state or the authority.
AZ Rev Stat § 5-1101 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1101 - Definitions

5-1101.  Definitions (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 sports authority. 4. " Board of directors"  means the county board of supervisors serving as the board of directors of the district. 5. " District"  means a sports authority district established pursuant to this chapter. 6. " Multipurpose facility"  means a stadium or a facility for youth sports that is adapted for additional entertainment,  cultural,  civic,  meeting,  trade show or convention events,  on-site infrastructure and related parking facilities and commercial activity within the facility. 7. " Stadium"  means a facility intended primarily for use by one or more major league baseball spring training operations,  including baseball stadiums,  clubhouses,  practice facilities,  other related facilities,  on-site infrastructure and related parking facilities and commercial activity within the facility. 8. " Youth sports"  means recreational and amateur sporting related activities and competitions organized in the district.
AZ Rev Stat § 5-1102 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1102 - Formation of district; board of directors; duties

5-1102.  Formation of district;  board of directors;  duties (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 serve as the board of directors of the district. The directors shall not receive compensation or reimbursement of expenses for their services as the board of directors. C. The board of directors may call an election for the establishment of a sports authority district in the county as provided by section 5-1103,  subsection A. D. The board of directors shall: 1. Appoint certain members of the governing board of the sports authority as provided by section 5-1103,  subsection D. 2. Approve a budget of the authority pursuant to section 5-1131. 3. Approve the issuance of revenue bonds of the authority pursuant to article 3 of this chapter. E. The district is a corporate and political body,  separate and independent of this state or the county,  and except as otherwise limited,  modified or provided by this chapter,  has all of the rights,  powers and immunities of municipal corporations except to acquire real property by eminent domain. The board of directors and the district do not have the authority to levy or otherwise impose any tax or assessment,  other than charges for the use of facilities owned or managed by the district. The qualified electors residing in the district may levy a tax for the fiscal needs of the authority as provided by this chapter,  but the board of directors has no independent authority to impose a tax. Subject to that limitation,  the district is considered to be a tax levying public improvement district for the purposes of article XIII,  section 7,  Constitution of Arizona.
AZ Rev Stat § 5-1105 (2021)
2021 Arizona Revised Statutes|Title 5 - Amusements and Sports|§ 5-1105 - Executive director; duties

5-1105.  Executive director;  duties (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 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 a multipurpose facility,  all of which are subject to approval by the authority board. C. The executive director shall: 1. Employ a fiscal agent to deposit,  hold,  invest and disburse the authority's monies. 2. Employ administrative and clerical employees and prescribe the terms and conditions of their employment as necessary to carry out the purposes of the authority. Employees of the authority are considered to be public employees for purposes of title 38. 3. Recommend the employment of consultants by the authority board,  including outside counsel and a professional facility management company. 4. Direct the activities of outside consultants.